Investment 10/12/2024

The Political Bureau meeting of the CPC Central Committee proposed to implement a more active fiscal policy and a moderately loose monetary policy next year to expand domestic demand and stabilize the property and stock markets.  After opening 133 points lower at 19,732 points, the Hang Seng Index once fell to 19,700 points. It rose rapidly near the end of the market, once soaring 567 points to 20,433 points. It closed up 548 points or 2.76% at 20,414 points for the whole day; the technology index rose 192 points or 4.3 points. %, reported 4,656 points.  The full-day transaction volume surged 26.87% from the previous trading day to 206.645 billion yuan, the most in the past month.

 The Hang Seng Index rose sharply, hitting a new closing high in the past month, surpassing the recent high of 19,900, crossing the resistance of 20,000 points, and the 50-DMA (20,380). It also broke through the falling wedge formed since early October. If it can hold 20,000 point, and based on the technical trend, the increase target can be seen at 23,200 levels.

 European stock markets developed individually, with British and French stocks rising by 0.52% and 0.72%, while German stocks closed slightly lower by 0.19%.

 The market was waiting to see the inflation data to be released in the United States later this week. U.S. stocks were under pressure on Monday. After opening slightly lower by 4 points, the Dow Jones Industrial Average recovered up to 85 points, reaching a high of 44,728 points. However, it soon fell repeatedly, with the decline extending to 259 points at the end of the period. , as low as 44,382 points; the S&P 500 fell back from its record closing high, once down 0.68%, and the Nasdaq, dominated by technology stocks, once fell 0.81%.  All three major indexes closed near the day's lows.

 At the close of the U.S. stock market, the Dow Jones Industrial Average fell 240 points, or 0.54%, to 44,401 points; the S&P Index fell 37 points, or 0.61%, to 6,052 points; the Nasdaq also retreated 123 points, or 0.62%, to 19,736 points.

 The U.S. dollar index fell as much as 0.25% to a low of 105.8, and then stabilized; the Euro rose 0.26% to $1.0587, and then weakened repeatedly; the yen once fell 0.89%, to 151.35 per dollar.  Bitcoin gave back up to 6.4% to about $94,900.