Investment 6/12/2024

The Hang Seng Index opened 163 points lower at 19,578 points and then remained soft. The decline once extended to 275 points and hit a low of 19,466 points. It fell 182 points or 0.92% for the whole day to 19,560 points. The Technology Index fell 33 points or 0.76% to 4,370 points. .  Main board transaction volume was HK$109.3 billion.


 The U.S. "small non-farm payrolls" ADP private employment growth in November was weaker than expected, reinforcing market expectations for the Federal Reserve to raise interest rates. The three major U.S. stock indexes all hit record highs overnight.  However, the positive external atmosphere has limited stimulating effect on Hong Kong stocks. The US dollar continues to be strong, and investors are worried about the impact of RMB depreciation on Chinese stocks.  In addition, the market is also waiting to see whether the Mainland's Central Economic Work Conference to be held next Wednesday will introduce further economic stimulus policies.  Since the Hang Seng Index can still hold the 10-DMA (19,453) after adjustment, the market outlook is still expected to break through the resistance of the 20-DMA (19,638) and challenge the 20,000 level.


 European stock markets stabilized, with British stocks closing slightly higher by 0.16%, French stocks and German stocks rising by 0.37% and 0.63%.


 Before the U.S. employment data for November was released on Friday, U.S. stocks repeatedly consolidated at historical highs on Thursday. After opening 24 points higher, the Dow Jones Industrial Average turned around and fell back up to 266 points, reaching a low of 44,747 points. It once rose 0.13% to a high of 6,094 points; the Nasdaq, which is dominated by technology stocks, rose 0.28% to a high of 19,790 points.  The S&P 500 and Nasdaq fell back after breaking through the top.


 At the close of U.S. stocks, the Dow Jones Industrial Average fell 248 points, or 0.55%, to 44,765 points; the S&P Index retreated 11 points, or 0.19%, to 6,075 points; and the Nasdaq fell 34 points, or 0.18%, to 19,700 points.


 The U.S. exchange rate index once fell 0.58% to 105.75, the euro rose as much as 0.76% to $1.0592, and the yen once rebounded 0.62% to 149.66 per dollar.  Bitcoin rose above the US$100,000 mark for the first time, soaring 6.05% to a high of US$103,800.

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Investment 24/4/2026

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