Investment 27/12/2024

Hong Kong stocks opened for trading on Christmas Eve and exceeded the 20,000 mark for Christmas.  The Hang Seng Index opened 28 points higher at 19,911 points and then gradually expanded its gains. It once rose 282 points to 20,165 points and closed up 215 points, or 1.08%, at 20,098 points. The Technology Index rose 49 points, or 1.11%, to 4,507 points.  Half-day main board turnover was HK$84.5 billion.


 Before the end of the year, the market's trading volume has become quiet. After the Hang Seng Index breaks through the 20,000 mark, the real challenge lies in whether it can further rise above 21,000.  Recently, mainland bank stocks have performed well. However, in order to stimulate the economy, the mainland has adopted a moderately loose monetary policy. As mainland banks shoulder a heavy responsibility, it may drag down profit growth. Asset quality also deserves attention. It is difficult for the sector to gain momentum again.


 In European stock markets on Tuesday, Britain's FTSE 100 index reported 8136 points, up 34 points or 0.42%; France's CAC 40 index reported 7282 points, up 10 points or 0.14%.  Yesterday, major European stock markets including the British, French and German stock markets continued to be closed.


 Due to the Christmas holiday, U.S. stocks will only be open for half a day on Tuesday and will be closed for the whole day on Wednesday.  The market sentiment is optimistic, looking forward to the "Santa Claus trend", which is a rise in the last five trading days of the year and the first two trading days of the new year.  On Tuesday, the Dow Jones Industrial Average rose 390 points to close at 43,297 points, the S&P 500 rose 65 points or 1.1% to close at 6,040 points, and the Nasdaq crossed the 20,000 mark, rising 266 points or 1.3% to close at 20,031 points.


 The number of people continuing to apply for unemployment benefits in the United States rose to a more than 3-year high, and the U.S. stock market resumed performance after the holiday. After the Dow opened 95 points lower, the decline once expanded to 181 points, reaching a low of 43,115 points; the S&P 500 index fell 0.35% at one point. The Nasdaq, which is dominated by technology stocks, fell as much as 0.71%.  The three major indexes closed individually with little change.


 U.S. stocks closed Thursday, with the Dow Jones Industrial Average rising 28 points, or 0.07%, to 43,325 points; the S&P Index retreating 2 points, or 0.04%, to 6,037 points; and the Nasdaq Composite falling 10 points, or 0.05%, to 20,020 points.


 The U.S. dollar index fell 0.21% repeatedly to 108.03; the yen fell for four consecutive days, once falling another 0.57% to a low of 158.1 per dollar.

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