Investment 19/11/2024

Hong Kong stocks rebounded after six consecutive losses.  The Hang Seng Index opened 169 points higher at 19,595 points and later rose 354 points to 19,781 points. It rose 150 points or 0.77% for the whole day to 19,576 points. The Technology Index rose 13 points or 0.31% to 4,341 points.  Main board transaction volume was HK$141 billion.


 Hong Kong stocks will fluctuate between 19,300 and 20,000 points this week. It is advisable to hold on to last week's low of 19,332 points, otherwise it will test the previous gap level of 19,000 points, or even the 150-DMA (18,488).  Last week, the China Securities Regulatory Commission issued the "Supervisory Guidelines for Listed Companies No. 10 - Market Value Management", which aims to further guide listed companies to pay attention to their own investment value and effectively improve investor returns.  The guidelines hope to raise market expectations for investment in Chinese stocks. There is room for value in stocks with low price-to-book ratios, such as domestic banking stocks and infrastructure stocks, which are expected to increase dividends and buybacks.


 European stock markets developed individually, with German stocks falling 0.11%, while British and French stocks rose 0.57% and 0.12% respectively. ​


 The U.S. 10-year bond interest rate rose to close to 4.5%, and the market was waiting to see who would be the U.S. Treasury Secretary. U.S. stocks lacked a clear direction in the early hours of Monday. After opening 13 points lower, the Dow fell back as much as 147 points and as low as 43,297 points. It fell after rising 0.1%, while the Nasdaq, which is dominated by technology stocks, rebounded 0.88%.


 At the close of U.S. stocks, the Dow Jones Industrial Average fell 55 points, or 0.1%, to 43,389 points; the S&P Index rose 23 points, or 0.39%, to 5,893 points; and the Nasdaq Composite rose 111 points, or 0.6%, to 18,791 points.


 The U.S. dollar index retreated 0.17% to 106.502, the euro rose 0.32% to $1.0574, and the yen fell 0.69% to 155.36 per dollar.

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