Investment 29/10/2024

Hong Kong stocks were struggling, with the Hang Seng Index opening 2 points higher at 20,592 points. The high had risen 79 points to 20,669 points, and the low had fallen 161 points to 20,428 points. It rose 9 points or 0.04% for the whole day to 20,599 points; the technology index outperformed. It rose 36 points or 0.79% to 4,574 points.  Main board transaction volume was HK$136.3 billion.


 The Hang Seng Index once fell below the 10-DMA (20,491) yesterday, but fortunately returned to its upper level and closed. It is expected to remain in the range of 20,000 to 21,000 points in the short term.  The Mainland will hold an important meeting next month, and the market is expecting more policies to be implemented one after another. It is believed to have a positive effect on the market, and the Hang Seng Index will make a strong move by then.  However, the U.S. presidential election will be held early next month, and the Federal Reserve will also discuss interest rates. We should pay attention to the external environment, which may become more volatile.


 European stock markets were mixed, with British and German stocks rising 0.45% and 0.35% respectively, while French stocks performed better, closing 0.79% higher.


 U.S. stocks performed well on Monday as tensions in the Middle East cooled down and expectations for bright performance from U.S. companies surged. After opening 150 points higher, the Dow rose as much as 362 points to a high of 42,476 points. The S&P 500 index rose 0.6%, and the Nasdaq, dominated by technology stocks, once rose. 0.82%.


 At the close of U.S. stocks, the Dow still rebounded 273 points, or 0.65%, to 42,387 points; the S&P 500 rose 15 points, or 0.27%, to 5,823 points; and the Nasdaq rose 48 points, or 0.26%, to 18,567 points.

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