Investment 31/12/2024

After opening higher, Hong Kong stocks repeatedly turned soft, hovering around 20,000 points.  After opening 34 points higher to 20,124 points, the Hang Seng Index once fell below the 20,000-point mark, reaching a low of 19,968 points. It closed down 49 points, or 0.24%, at 20,041 points throughout the day; the Technology Index fell 37 points, or 0.84%, to 4,500 points.  Market turnover was approximately HK$128.6 billion.  Hong Kong stocks will only be open for half a day on New Year's Eve today and will be closed on New Year's Day on Wednesday.


 The market atmosphere is weak during the holiday season. The Hang Seng Index is expected to hover around 20,000 points in the short term, with high and low fluctuations ranging from 19,600 points to 21,000 points. The market is still waiting to see the details of the central government’s issuance of 3 trillion RMB treasury bonds, as well as the details of the US president-elect. Trump’s actions after he officially takes office next month.  Hong Kong stocks have performed well this year. The Hang Seng Index has risen by about 3,000 points since the beginning of the year, and the market turnover has also reached a record high.  It seems that the performance of Chinese stocks in the first nine months of this year is generally in line with or even better than expected. It is expected to remain stable in 2025, which is believed to support the performance of the market.  The Hang Seng Index is expected to continue to fall above 20,000 points before the end of the year. Under the policy trends in the Mainland next year, the overall market is still optimistic. The initial target for the index next year is 23,000 points. It may test 25,000 points after breaking above.


 European stock markets fell across the board, with British, French and German stocks falling 0.35%, 0.57% and 0.38% respectively. The market investment sentiment was weak, and the overall European stock trading volume was only half of the average of the past 30 days.


 Wall Street investors sold large technology stocks to lock in profits near the end of the year, dragging down U.S. stocks on Monday. The Dow Jones Industrial Average opened 128 points lower and then fell sharply. It once fell 728 points to a low of 42,263 points; the S&P 500 dropped as much as 1.7%. , the Nasdaq had fallen 1.92%.  The three major indexes narrowed their losses at closing.


 At the close of U.S. stocks, the Dow narrowed its decline to 418 points, or 0.97%, to 42,573 points; the S&P 500 fell 63 points, or 1.07%, to 5,906 points; the Nasdaq fell 235 points, or 1.19%, to 19,486 points.


 The U.S. dollar index rose 0.33% to 108.38; the yen rose 0.74% to 156.67 per dollar; the euro fell 0.53% to $1.0373.

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