Investment 25/11/2024

Last Friday, after opening 12 points higher at 19,613 points, the Hang Seng Index rose 110 points to 19,711 points in the early morning. Selling pressure intensified in the afternoon and fell 466 points to a nearly two-month low of 19,134 points. It closed down 371 points or 1.89% for the whole day. 19,229 points; the technology index fell 111 points or 2.56% to 4,246 points. Main board transaction volume increased to HK$157.9 billion.

 For the whole week, the Hang Seng Index fell 196 points or 1.01%.

 Last week, the Hang Seng Index fell below the 4-week-long horizontal zone with a big black candlestick, and fell below the May rebound wave peak of 19,706. The trend took a turn for the worse. Last week, it further fell below the previous rising wave of fibo 0.618 at 19,361, and the daily chart If it falls below the rising flag, it is expected to continue to find the bottom. The next support is the 100-DMA (18,756). This Wednesday (27th) is the peak day for spot-month index futures rollover. Thursday and Friday are the settlement day for spot-month index futures and the settlement day for spot-month OTC derivatives respectively. Due to Hang Seng Index still below the current 10-DMA ( 19,674), this month’s futures may be held and settled at a lower level. If there is a short-term rebound in the Hang Seng Index, the 10-DMA is expected to have initial resistance. If the market wants to get rid of the weak state of trying to test the bottom, it must successfully cross it again and hold firmly above this line. Although there have been eye-catching IPOs in the Hong Kong stock market recently, the scale is not large in terms of the amount of funds raised. It is expected that it will be difficult to stimulate the sentiment of the Hong Kong stock market. In addition, the market lacks good news, and the Hong Kong stock market has no upward momentum.

 British, French and German stocks closed up 1.38%, 0.58% and 0.92% respectively.

 The U.S. Composite Purchasing Managers Index (PMI) rose to 55.3 in November from 54.1 in October, the fastest pace of expansion since April 2022, better than expected, indicating further expansion of U.S. economic activity and positive market sentiment. U.S. stocks performed well last Friday, with the Dow Jones Industrial Average expanding its gains to 453 points after opening flat, reaching a high of 44,323 points, and closing at a record high; the S&P 500 once rose 0.41%; the Nasdaq gave up as much as 0.38% before stabilizing.

 At the close of the U.S. market, the Dow Jones Industrial Average rose 426 points, or 0.97%, to 44,296 points; the S&P Index rebounded 20 points, or 0.35%, to 5,969 points; the Nasdaq rebounded 31 points, or 0.16%, to 19,003 points. Last week, the Dow Jones Industrial Average rose 2%, the S&P 500 rose 1.7%, and the Nasdaq gained 1.7%.

 The U.S. dollar index rose as much as 1.03% to 108.071; the yen once rose 0.37% to 153.97 per dollar, and then fell 0.31% to a low of 155.03. The Euro fell sharply by 1.33% to $1.0335, a new low since November 2022.

 Bitcoin once approached the $100,000 mark, rising as much as 2.6% to a high of $99,767. The origin of Bitcoin is to "decentralize", and Trump's policy runs counter to this.

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