Investment 4/12/2024

Hong Kong stocks have done well repeatedly.  The Hang Seng Index opened 35 points higher at 19,585 points. It fell 163 points in the early stage to a low of 19,386 points. It then turned upward and rose 218 points to 19,768 points. It rose 196 points or 1% for the whole day to 19,746 points.   Technology The index lagged behind, rising 12 points or 0.27% to 4,417 points.  Main board transaction volume was HK$126.6 billion.


 The Hang Seng Index rose for the third consecutive trading day, and was indeed constrained by the resistance of the 20-DMA (19,748).  If today's adjustment can still hold the 10-DMA(19,454), the market outlook is expected to challenge the 20,000 level.


 Although the trend of Hong Kong stocks is dominated by mainland policies, the market is not too convinced by the pace and scale of earlier rescue measures. It seems that it has failed to boost investor confidence. It remains to be seen whether the Central Economic Work Conference next Wednesday may bring surprises.  In addition, the weakening of the RMB exchange rate amid the strong US dollar has also put pressure on Hong Kong stocks.


 European stock markets performed well, with British and French stocks closing up 0.56% and 0.26% respectively. Germany's DAX index rose above the 20,000 mark for the first time, closing up 0.42% at 20,016 points, temporarily rising by nearly 20% this year.


 Looking at the performance of U.S. employment data and Federal Reserve Chairman Powell's speech, U.S. stocks repeatedly consolidated at high levels on Tuesday. After the Dow opened 12 points lower, it turned around and rose 132 points to a high of 44,914 points, and then fell 207 points to a low of 44,574 points; The index once fell back 0.23%, but eventually recovered and reached a new closing high with the Nasdaq. The Nasdaq, which is dominated by technology stocks, gave up at most 0.33%, and then also broke through the top and reached a high of 19,486 points, with an increase of 0.3%.


 At the close of U.S. stocks, the Dow Jones Industrial Average fell 76 points, or 0.17%, to 44,705 points; the S&P Index rose 2 points, or 0.05%, to 6,049 points; and the Nasdaq Composite rose 76 points, or 0.4%, to 19,480 points.


 U.S. stocks are so bullish that the S&P 50 index hit a new closing high for the 54th time this year on Monday. JPMorgan traders pointed out that options trading bets show that the S&P 500 index may rise to 6,200 to 6,300 points by the end of this year, which means another 3% to 4% increase. space.

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Investment 24/4/2026

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