Investment 28/11/2024

The rebound in the RMB exchange rate drove Hong Kong stocks to rebound significantly on the eve of futures settlement.  After opening 27 points higher at 19,187 points, the Hang Seng Index fell 97 points to 19,061 points. It then resumed its upward trend and expanded to 501 points in the afternoon, reaching a high of 19,660 points. It rose 443 points or 2.31% throughout the day to 19,603 points.  The technology index rose 152 points, or 3.61%, to 4,374 points.  Main board transaction volume was HK$138.9 billion.


 The Hang Seng Index has fallen below the 20-DMA (19,963) and the central axis of the Bollinger Band. In addition, the transaction volume has gradually shrunk, and the technical trend is weak. Once the transaction volume is less than Hk$100 billion , it means that the market has returned to the trend before the mainland's October rescue.  The Hang Seng Index has the opportunity to test the 100-DMA (18,798), investors should be cautious.


 European stock markets had mixed trends, with British stocks rising slightly by 0.2%, French and German stocks falling by 0.72% and 0.18% respectively.


 The latest data from the United States showed that inflation has not worsened. U.S. stocks retreated on the eve of the Thanksgiving holiday on Wednesday. After opening 22 points lower, the Dow once turned around and rebounded up to 142 points, reaching a high of 45,003 points, setting a new market high. Later, it fell 170 points. It hit a low of 44,690 points; the S&P 500 fell by as much as 0.61%, and the Nasdaq, which is dominated by technology stocks, once fell by 1.24%.


 At the close of the U.S. stock market, the Dow fell 138 points, or 0.31%, to 44,722 points; the S&P 500 fell 22 points, or 0.38%, to 5,998 points, ending its winning streak in the past seven trading days; the Nasdaq fell 115 points, or 0.6%, to 5,998 points. 19,060 points.


 The U.S. dollar index fell as much as 1.07% to 105.86, the Euro rose 0.94% to $1.059, and the Japanese yen rose 1.73% to 150.46 per dollar.  Bitcoin once rebounded 7.2% to more than $97,300.

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Investment 24/4/2026

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