Investment 3/12/2024

Hong Kong stocks performed well repeatedly on the first trading day of December.  The Hang Seng Index opened 18 points higher at 19,442 points and maintained an upward trend for most of the time thereafter, rising as much as 266 points to 19,690 points. It rose 126 points or 0.65% throughout the day to 19,550 points; the Technology Index rose 52 points or 1.2% to 4,405 points. point.  Main board transaction volume was HK$146 billion.


 Yesterday, the Hang Seng Index regained the 10-DMA (19,445) as expected. I believe that as investors' pessimism eases, the market is expected to stabilize. If it can break through the resistance of the 20-DMA (19,811), it is expected to challenge the 20,000 level in the short term.


 Mainland economic data is gradually recovering, with the official manufacturing purchasing managers index (PMI) remaining in the expansion range for the second consecutive month. The market is looking forward to the important meeting held in the Mainland this month, which will introduce more economic stimulus measures.  In addition, the US dollar exchange rate showed signs of softening, which also benefited the performance of Hong Kong stocks.


 European stock markets fell first and then stabilized. The dispute over the French government's budget triggered political instability. French stocks fell by as much as 1.23% and closed up 0.02%. British and German stocks rose by 0.31% and 1.57% respectively.


 U.S. stocks experienced individual developments on the first trading day of December. After opening 15 points higher on Monday, the Dow Jones Industrial Average turned around and retreated by up to 200 points, reaching a low of 44,710 points. The S&P 500 and Nasdaq both broke through the top and hit record closing highs, with the S&P 100 rising 0.35%. , as high as 6,053 points, the Nasdaq once rose 1.14%, reaching a high of 19,436 points.


 At the close of U.S. stocks, the Dow Jones Industrial Average fell 128 points, or 0.29%, to 44,782 points; the S&P Index rose 14 points, 0.24%, to 6,047 points; and the Nasdaq Composite rose 185 points, 0.97%, to 19,403 points.


 The U.S. dollar index rose as much as 0.94% to 106.73, the euro fell 1.09% to $1.0462, and the yen once fell 0.65% to 150.75 per dollar.

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