Investment 12/12/2024

After opening 93 points higher at 20,404 points, the Hang Seng Index rose 170 points to 20,481 points. It then fell back repeatedly, once falling 211 points and reaching a low of 20,100 points. It fell 156 points or 0.76% for the whole day to 20,155 points; the technology index fell 60 points  or 1.31%, reported at 4,531 points.  Main board transaction volume was HK$141.6 billion.


 The mainland recently stated that it will implement a more active fiscal policy and a moderately loose monetary policy in 2025, saying that it must stabilize the property and stock markets, and vigorously boost consumption.  The Central Economic Work Conference will be held on Wednesday (11th), and the market expects that more specific measures may be introduced.  The Hong Kong stock market has soared in recent days, but there was a one-day reversal last day, with 21,000 gained and lost again, and today it fell below the 50-DMA (20,354).  In the short term, we should pay attention to whether the Hang Seng Index can hold the 20,000 level. If it stabilizes above it, the market outlook is still expected to repeatedly test highs; but if it falls, it means that the technical trend will weaken again.


 U.S. securities firm JPMorgan Chase said that the Politburo's signal of support for the macroeconomy and stock market is believed to be positive for the performance of Chinese financial stocks, and it is optimistic that the brokerage sector will outperform domestic banks in the short term.


 European stock markets remained stable, with British, French and German stocks rising 0.26%, 0.39% and 0.34% respectively.


 The U.S. Department of Labor announced that the consumer price index (CPI) in November accelerated to 2.7% year-on-year from 2.6% in October. The inflation data was in line with expectations and is not expected to disrupt the Federal Reserve's interest rate cut plan next week. U.S. stocks developed individually on Wednesday , after the Dow opened 52 points higher, the gain expanded to a maximum of 128 points, reaching a high of 44,376 points, and fell 112 points near the close, with a low of 44,135 points; the S&P 500 rose by up to 0.96%, approaching a historical high; mainly technology stocks The Nasdaq broke through its peak, once rising 1.87%, reaching a high of 20,055 points. It also closed at a record high, and stood above 20,000 points for the first time.


 At the close of the U.S. stock market, the Dow Jones Industrial Average retreated 99 points, or 0.22%, to 44,148 points; the S&P Index rose 49 points, 0.82%, to 6,084 points; the Nasdaq Composite rebounded 347 points, or 1.77%, to 20,034 points.


 The U.S. dollar index rose as much as 0.39% to 106.81; the European Central Bank is expected to cut deposit interest rates by 0.25% on Thursday, and the Euro fell 0.47% to $1.0481.  The yen once fell 0.57% to a low of 152.82 per dollar.  Bitcoin once again rose above the $100,000 mark, rising more than 7% to $101,700.

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