Investment 17/12/2024

After opening 24 points lower at 19,947 points, the Hang Seng Index once rose 77 points to 20,049 points. It then fell into a correction and fell as much as 245 points to 19,726 points. It fell 175 points or 0.88% for the whole day to 19,795 points; the technology index fell 64 points. or 1.44%, at 4,414 points.  Main board transaction volume was HK$134 billion.


 Investors will be more cautious before seeing the details of the mainland's support policies. Hong Kong stocks will inevitably maintain a consolidation pattern in the short term and will test the support of the previous low of 19,566 points. If it falls, it will meet the 100-DMA (19,055).  However, the mainland is still likely to implement monetary easing policies such as lowering the reserve requirement ratio this year, which is expected to bring rebound opportunities for Hong Kong stocks, with the market looking at the 20,800-point to 21,300-point area.  On the other hand, the market is ushering in a super interest rate discussion week by global central banks. Investors are paying attention to whether Hong Kong banks will adjust the prime interest rate accordingly. If they follow the cut, it is expected to be good for the performance of Hong Kong stocks and the local property market.


 European stock markets came under pressure. France's credit rating was downgraded by Moody's. French stocks fell 0.71%, British stocks and German stocks fell 0.46% and 0.45%.


 The U.S. manufacturing purchasing managers' index (PMI) in December fell to 48.3, a new low since May 2020, from 49.7 in November, which was worse than the expected 49.5.  U.S. stocks developed individually on Monday. After opening 2 points lower, the Dow Jones Industrial Average turned around and rose by up to 123 points, reaching a high of 43,951 points. After that, it fell back by up to 141 points, reaching a low of 43,686 points. The S&P 500 once rose 0.56%, reaching a high of 6,085 points. The Nasdaq broke its top. It once rose 1.39%, with a high of 20,204 points, and closed at a new high.


 U.S. stocks closed with the Dow retreating 110 points, or 0.25%, to 43,717 points, marking its eighth consecutive trading day of losses; the S&P 500 rose 22 points, or 0.38%, to 6,074 points; the Nasdaq rose 247 points, or 1.24%, to 20,173 points. .


 The U.S. dollar index once rose 0.16% to 107.17, and then fell by more than 0.1%; the Euro rose 0.23% to $1.0527; the Japanese yen fell as much as 0.51% to 154.48 per dollar.

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