Investment 3/2/2025

Hong Kong stocks fluctuated on the last trading day of the Year of the Dragon.  The Hang Seng Index opened 139 points higher at 20,337 points, then fell 32 points to 20,165 points, and closed up 27 points or 0.13% at 20,225 points; the Technology Index rose 36 points or 0.77% to 4,723 points.  The main board traded HK$51.6 billion in the half-day session.


 The Hang Seng Index rose 4,478 points or 28.4% in the Year of the Dragon, making it the best performing year of the Dragon in history in terms of points.  In the first month of 2025, the Hang Seng Index rose by 165 points or 0.82%.


 The Hang Seng Index is expected to hold steady at 20,200 points after the Spring Festival holiday today, and then challenge the resistance zone of 21,000 to 21,300 points. If there is a short-term pullback, the 10-DMA (19,839) is expected to provide initial support.  The overall sentiment of the Hong Kong stock market is expected to remain sluggish. Investors should pay attention to whether the Hang Seng Index can hold the 10-DMA support level. If it fails, they may consider leaving the market.


 In European stock markets, UK, French and German stocks rose 0.31%, 0.11% and 0.02% respectively.


 The good performance of technology stocks brought support to the US stock market. The Dow Jones Industrial Average opened 172 points higher on Friday at 45,054 points, approaching the record high of 45,073 points in early December last year; the S&P 500 rose 0.82%, and the Nasdaq, which is dominated by technology stocks, rose the most. 1.46%.  However, U.S. President Trump will push forward plans to impose tariffs on goods from Canada, Mexico and China starting Saturday, and the news dragged down the three major U.S. stock indexes.


 At the close of U.S. stocks, the Dow Jones Industrial Average fell 337 points, or 0.75%, to 44,544 points; the S&P 500 fell 30 points, or 0.5%, to 6,040 points; and the Nasdaq fell 54 points, or 0.28%, to 19,627 points.

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