Investment 16/12/2024

The Hang Seng Index opened 158 points lower at 20,238 points last Friday and the decline intensified. It fell 469 points to 19,927 points in the afternoon and fell 425 points or 2.08% to 19,971 points for the whole day. The Technology Index fell 121 points or 2.63% to 4,479 points. Main board transaction volume was HK$158.4 billion.

 To summarize the whole week, the Hang Seng Index rose by 105 points or 0.53%.

 The details of the Central Economic Work Conference have been released, proposing a broad policy framework such as domestic demand. The outside world has already expected it, but the market is more looking forward to actual figures, such as whether consumer vouchers will be distributed and what the amount will be if so. I believe the conference will stimulate the market. Limited effect. Hong Kong stocks are expected to return to quietness. Mainland China hopes that the financial market will be stable and the stock market is not expected to fall sharply. The upper resistance of the Hang Seng Index is currently at 20,800 points, and the lower support is the previous low of 19,566 points. If it falls below, it will test the 100-DMA (19,055).

 European stock markets were little changed, with British, French and German stocks falling slightly by 0.14%, 0.15% and 0.1% respectively.

 Apple's chip supplier Broadcom's artificial intelligence (AI) product performance this quarter exceeded expectations, and its stock price surged 24.4%. Its market value exceeded US$1 trillion for the first time. It sang good prospects and boosted investment sentiment. U.S. stocks were volatile on Friday, with individual developments. After the Dow opened slightly higher by 15 points, the gain expanded to 140 points, reaching a high of 44,054 points, and then fell by 123 points to a low of 43,790 points. The S&P 500 rose by up to 0.45%, and then fell by 123 points to a low of 43,790 points. All gains evaporated; the Nasdaq once again rose above the 20,000 mark and reached its top. It once rose 0.8% to a high of 20,061 points, and then stabilized repeatedly.

 At the close of U.S. stocks, the Dow Jones Industrial Average fell 86 points, or 0.2%, to 43,828 points; the S&P Index dropped less than 1 point, to 6,051 points; and the Nasdaq Composite Index fell 23 points, or 0.12%, to 19,926 points.

 The U.S. dollar index once fell 0.22% to 106.719, and then stabilized repeatedly; the Euro rose 0.56% to $1.0526; the Japanese yen fell by up to 0.76%, reaching a low of 153.8 per dollar; the British economy contracted in October, and the pound briefly fell 0.51% to $1.2608.