Investment 5/11/2024

Investors are waiting to watch many major political and economic events this week, and Hong Kong stocks are struggling. The Hang Seng Index opened 78 points higher at 20,584 points, once rose 127 points to 20,633 points, and fell 60 points to 20,446 points. It closed up 61 points or more for the whole day. 0.29%, reported at 20,567 points; the technology index rose 48 points, or 1.07%, reported at 4,532 points.  Main board transaction volume was HK$116.2 billion.

 The US presidential election, the Federal Reserve's interest rate meeting and the National People's Congress meeting will all be held this week.  The market expects that the Federal Reserve will have a greater chance of cutting interest rates by 0.25%, but whoever joins the White House will attract more attention. If Trump is elected, the Sino-US trade war may resume, putting pressure on China's exports and even the RMB exchange rate, which will inevitably have a certain impact on Hong Kong stocks.  The short-term fluctuations of the Hang Seng Index may increase, with support at 19,700 to 20,100 points at the bottom and resistance at 21,000 points at the top.

 European stock markets had mixed trends, with British stocks rising 0.09%, French and German stocks falling 0.5% and 0.56% respectively.

 The U.S. presidential election is held today, and investors are also waiting to see the outcome of the Federal Reserve's interest rate meeting on Thursday. They are cautious in entering the market. U.S. stocks were soft on Monday. After opening 47 points lower, the Dow Jones Industrial Average fell as much as 405 points to a low of 41,647 points. The S&P 500 index had fallen 0.56%, the Nasdaq once fell back 0.7%.

 At the close of U.S. stocks, the Dow Jones Industrial Average fell 257 points, or 0.61%, to 41,794 points; the S&P Index fell 16 points, or 0.28%, to 5,712 points; and the Nasdaq Composite fell 60 points, or 0.33%, to 18,179 points.

 Trump supports loose fiscal policies and threatens to significantly increase tariffs, which may exacerbate Washington's fiscal deficit and push up inflation. Rising interest rates will put pressure on U.S. debt, but will be good for the U.S. dollar; if Harris wins the election and each party takes one house, the U.S. dollar Last month's gains will quickly evaporate.

 The U.S. dollar index fell as much as 0.68% to 103.576, and the Bloomberg U.S. dollar spot index once fell 0.71%, the largest decline since August; the yen surged 0.96% to 151.54 per dollar, and the euro rose 0.75% to $1.0915.