Investment 17/4/2025

The Hang Seng Index opened 149 points lower and fell nearly 600 points to 20,868 points at one point. The daily decline narrowed to 409 points, or 1.91%, to 21,056 points. The Technology Index fell 185 points, or 3.72%, to 4,796 points. The market turnover exceeded HK$219.9 billion .

As expected, the Hong Kong stock market gave up its gains after six consecutive days of gains. The Hang Seng Index lost its 100-DMA (21,245). The market outlook must pay close attention to the defensive ability of the 250-DMA (19,590). There are still many uncertainties in the global market and many investors are taking advantage of the rebound to sell their stocks and make profits. In addition, considering that the Hang Seng Index's low this year was around 19,000 points and its high was around 24,000 points, if it rebounds to 22,000 points, it will have almost completed half of this year's high and low difference. It is normal to believe that there will be resistance when rising to this level.

Morgan Stanley lowered its target for the Hang Seng Index by the end of this year, pointing out that corporate profits will inevitably be affected given the current challenging economic outlook. The latest target for the Hang Seng Index by the end of the year is 20,800 points, while the latest bullish and bearish targets are 25,500 points and 14,400 points respectively.

European stock markets developed individually, with UK and German stocks rising 0.32% and 0.27% respectively, and French stocks falling 0.07%.

The United States announced new chip export controls, and the new order figures of Dutch semiconductor equipment manufacturer ASML last quarter were far below expectations. In addition, Federal Reserve Chairman Powell said that the tariff issue has caused the central bank's monetary policy to fall into a dilemma. All of these have exacerbated investors' concerns about the trade war. U.S. stocks fell sharply on Wednesday, led by technology stocks. The Dow opened 189 points lower and the decline widened to 974 points, hitting a low of 39,394 points, falling below the 40,000 point mark. The S&P 500 fell 3.26% at one point, and the Nasdaq fell as much as 4.5%.

At the close of U.S. stocks, the Dow Jones Industrial Average fell 699 points, or 1.73%, to 39,669; the S&P 500 fell 120 points, or 2.24%, to 5,275; and the Nasdaq fell 516 points, or 3.07%, to 16,307.

The U.S. dollar index fell as much as 1.05% to 99.17; the euro rose 1.17% to $1.1415; the yen rose as much as 1.1% to 141.66 per dollar. The rising risk aversion in the market pushed the international gold price above US$3,300 per ounce. The spot gold price once surged 3.56% to US$3,342.49, and the New York gold futures price once soared 3.64% to US$3,358.4, both breaking records.

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Investment 24/4/2026

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Investment 27/4/2026

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