Investment 31/3/2025

On the futures settlement day, the Hang Seng Index opened 94 points higher at 23,672 points, and then rose 196 points to 23,775 points. It then encountered resistance and fell, falling 324 points to 23,254 points. It fell 152 points or 0.64% for the day to 23,426 points, ending a two-day rally; the Technology Index fell 82 points or 1.47% to 5,506 points. The Main Board's turnover was HK$229.6 billion.


Hong Kong stocks fell for three consecutive weeks, with the Hang Seng Index falling 804 points, marking the longest decline in five months. It fell 263 points or 1.11% for the week. The Tech Index fell more than the Hang Seng Index and has been falling for three consecutive weeks, with a cumulative drop of 530 points or 8.79%.


The recent reduction in trading volume of Hong Kong stocks reflects that investors are cautious in entering the market. Even though the bottom of the Hong Kong stock market is relatively strong and it recorded an increase of more than 6,000 points in the first quarter, the Hong Kong stock market may enter a consolidation period in the second quarter, with the main fluctuations being range-bound. It is expected that the Hang Seng Index will fluctuate around the 20-DMA (23,802) in the short term. Unless the market can rise above the 24,000 level and stabilize, it will be in a position to challenge the high again. In the future, more data is needed to prove that the mainland economy continues to improve and corporate profit growth maintains a certain level, in order to drive the market to further break new highs.


European stocks closed weak, with UK, French and German stocks falling 0.08%, 0.93% and 0.96% respectively.


The core personal consumption expenditures deflator (Core PCE), the main inflation indicator in the United States, rose faster to 2.8% year-on-year, stronger than the expected 2.7%. Coupled with continued tariff concerns, U.S. stocks plunged on Friday. The Dow opened 53 points lower and then widened its decline to 769 points, with a low of 41,530 points. The S&P 500 fell for three consecutive days, falling 2.12%, and the Nasdaq fell 2.93% at one point.


At the close of the U.S. market, the Dow Jones Industrial Average fell 715 points, or 1.69%, to 41,583 points; the S&P 500 fell 112 points, or 1.97%, to 5,580 points; and the Nasdaq Composite dropped 481 points, or 2.7%, to 17,322 points.


For the whole week, the Dow Jones Industrial Average fell 1%, the S&P 500 fell 1.5%, and the Nasdaq fell 2.6%. In the past six weeks, the Nasdaq and the S&P 500 have recorded declines in five of them.


The U.S. dollar index fell as much as 0.42% to 103.9, the euro rose 0.4% to $1.0847, and the yen rose 0.9% to 149.69 per dollar. Bitcoin fell 4.6% to $83,654.


Japan's Shinmoe-dake volcano has been experiencing frequent volcanic activity in recent days, and the Japan Meteorological Agency has raised its alert level.


The picture below shows the eruption in 2017. (AFP)

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