Investment 14/4/2025

The Hang Seng Index opened 124 points lower at 20,557 points, and fell 237 points to 20,444 points at one point. It then turned upward, rising as much as 445 points to 21,127 points. It rose 232 points or 1.12% to 20,914 points for the whole day, rising for four consecutive days; the Technology Index rose 86 points or 1.8% to 4,900 points. The main board traded HK$276.4 billion .


The Hang Seng Index rose to 24,874 points in mid-March, a new high this year, breaking through the top of the large sideways zone of 22,700 points, but was blocked at the top of the dense zone of 25,000 points at the beginning of 2021. It has fallen for five consecutive weeks and fell through a large gap (21,211 to 22,638) last week, breaking through the 100-DMA (21,190). The trend seems to be weakening; but from a technical point of view, the first support level is at the recent low of 20,260 points, and the 250-DMA (19,537) has stronger support.


Looking ahead to the Easter holiday this week, as the United States announced the exemption of tariffs on some imported goods, the Hong Kong stock market is expected to rebound along with the external market, and the Hang Seng Index will test the resistance of the 50-DMA (22,692). Although the weakening of the US dollar is also beneficial to the Hong Kong stock market, the ongoing Sino-US struggle is unlikely to be resolved in a short period of time. It is expected that the market will have a greater chance of fluctuating between the 50-DMA and 250-DMA.


European stock markets developed differently, with British stocks rising 0.64%, French stocks falling 0.3% and German stocks falling 0.92%.


As the market is still digesting the latest developments in the Sino-US trade war, the US Producer Price Index (PPI) showed that inflationary pressure was milder than expected. The PPI in March slowed down to 2.7% year-on-year. The US stock market fluctuated on Friday. After the Dow opened 100 points lower, the decline once widened to as much as 338 points, hitting a low of 39,255 points, and then stopped falling and rebounded, hitting a high of 40,404 points, an increase of 810 points; the S&P 500 rose as much as 2.15%, while the Nasdaq, which is dominated by technology stocks, rose 2.23%.


At the close of U.S. stock markets, the Dow Jones Industrial Average rose 619 points, or 1.56%, to 40,212 points; the S&P 500 rose 95 points, or 1.81%, to 5,363 points; and the Nasdaq Composite rose 337 points, or 2.06%, to 16,724 points.


Last week, the Dow Jones Industrial Average climbed 4.95%; the S&P 500 rose 5.7%, its best weekly performance since November 2023; and the Nasdaq rose 7.29%.


The US dollar was sold off. After the US dollar index plunged nearly 2% on Thursday, it further fell 1.84% on Friday, falling below the 100 mark for the first time since 2023, hitting a low of 99.01, the weakest in three years; traditional safe-haven currencies continued to strengthen, with the yen rising to 142.07 per US dollar, up 1.65%, with a high of 5.4588 Hong Kong dollars per 100 yen; the Swiss franc rose nearly 4% against the US dollar on Thursday, the biggest increase since 2015, and continued to rise 1.72% on Friday, reaching a high of 0.8099 against the US dollar.


Spot gold prices hit a record high for two consecutive days, rising 2.19% to $3,245.36 per ounce at one point.

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