Investment 20/12/2024

The Hang Seng Index opened 254 points lower at 19,610 points. The low was down 273 points to 19,591 points. The decline narrowed to 15 points in the afternoon. It fell 112 points or 0.56% for the whole day to 19,752 points. The Technology Index fell 29 points or 0.65% to 19,752 points. 4,439 points.  Main board transaction volume was HK$142.8 billion.


 The U.S. Federal Reserve cut interest rates by 0.25% as expected, but Chairman Powell made "hawkish" remarks, and market expectations for the Fed to cut interest rates sharply cooled. The dot plot shows that the number of interest rate cuts next year may be reduced to two.  The U.S. 10-year bond yield hit the 4.5% level. U.S. stocks rose first and then fell overnight, with the Dow Jones Industrial Average falling more than a thousand points.  Amid the strong US dollar, downward pressure on the RMB is expected to drag down the performance of Chinese stocks, and Hong Kong stocks will inevitably be affected.  The Hang Seng Index has the opportunity to test 19,000 points, while the upper resistance is at 20,000 points.


 European stock markets came under pressure, with British, French and German stocks falling 1.14%, 1.22% and 1.35% respectively.


 The market's concerns about the US Federal Reserve's hawkishness have temporarily eased. US stocks' gains sharply narrowed after Thursday's sharp rebound, and eventually developed individually.  After the Dow opened 137 points higher, it rebounded up to 460 points, reaching a high of 42,787 points; the S&P 500 once rose 1.08%, and the Nasdaq once rose 1.19%.  The VIX volatility index, commonly known as the "fear index", surged 74% on Wednesday, the largest increase in seven years. It retreated 27% on Thursday.


 At the close of U.S. stocks, the Dow rose only 15 points, or 0.04%, to 42,342 points; the S&P 500 fell 5 points, or 0.09%, to 5,867 points; the Nasdaq fell 20 points, or 0.1%, to 19,372 points.


 The Dow closed at 1,123 points on Wednesday, falling for 10 days in a row, the longest losing streak since 1974. The S&P 500 dropped 2.95%, marking the biggest drop since 2001 on the day of the Federal Reserve interest rate meeting.


 The U.S. dollar index retreated first and then climbed, once rising 0.43% to 108.49; the Japanese yen fell as much as 1.91% to 157.8 per dollar.  The cryptocurrency Bitcoin fell repeatedly after falling below $100,000, falling as much as 7% to $95,633.

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Investment 24/4/2026

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