Investment 22/4/2025

Last Thursday, Hong Kong stocks performed well before the long Easter holiday. The Hang Seng Index opened 9 points higher and continued to rise, ending the day up 338 points or 1.61% at 21,395 points; the Technology Index rose 91 points or 1.9% to 4,887 points. The main board's turnover exceeded HK$192.4 billion .


There were only four trading days for Hong Kong stocks last week. The Hang Seng Index rose 2.29% for the week, while the Tech Index fell 0.26%.


The Hong Kong stock market rebounded from the low at the beginning of the month. The technical trend is not weak, but there are signs of shrinking trading volume and the upward momentum is insufficient. In particular, the outlook for the external trade war is still unclear. Even if the market is looking forward to more economic stimulus measures in the mainland, it is expected that planning will take time. Even after the Easter holiday, there may not be much good news. The current entry price risk ratio is not high, so it is advisable to just go light for now. The market is mainly in a fluctuating pattern, with support at the 250-DMA  (19,608) and resistance at the 50-DMA (22,762).


European stock markets closed mixed on Thursday, with UK stocks rising less than 1 point, while French and German stocks fell 0.6% and 0.49% respectively. The three major European stock markets will remain closed on Monday for holidays.


Dragged down by rising medical costs, the US health insurance giant UnitedHealth, which has the highest weight in the Dow Jones Industrial Average, reported performance that fell short of market expectations for the first time in more than a decade and lowered its full-year profit forecast, triggering a sell-off in its shares. Its share price closed down 22.4%, making it the worst performing Dow component and the worst day since 1999. Coupled with Nvidia's continued decline, US stocks came under pressure before the Easter holiday on Thursday (17th), with the Dow Jones Industrial Average plunging by more than 719 points at one point. After opening 76 points higher, the Dow Jones Industrial Average reversed and plunged as much as 719 points to a low of 38,950. The S&P 500 rose 1% at one point, while the tech-heavy Nasdaq Composite Index fell 0.77% at one point. From Monday to Thursday last week, the Dow Jones Industrial Average fell 1.1%, the S&P 500 rose 0.3%, and the Nasdaq fell 0.6%.


The market is worried that the replacement of Federal Reserve Chairman Powell will further weaken investors' confidence in US dollar assets. U.S. stocks sold off significantly after the holiday on Monday. The Dow Jones Industrial Average opened 236 points lower and then fell step by step. The decline widened to as much as 1,311 points in the late stage and hit a low of 37,830 points. The S&P 500 fell sharply by 3.43% at one point, and the Nasdaq, which is dominated by technology stocks, plunged 3.69%.


At the close of U.S. stock markets, the Dow Jones Industrial Average was at 38,170, down 971 points, or 2.48%; the S&P 500 fell 124 points, or 2.36%, to 5,158; and the Nasdaq fell 415 points, or 2.55%, to 15,870.


The U.S. dollar index fell below the 98 level, losing as much as 1.32% to 97.921. The euro rose above $1.15, rising 1.58% to $1.1573, a more than three-year high. The yen rose 1.2% to 140.48 per dollar. The decline in the US dollar benefited Bitcoin, which once rebounded by 4.01% to $88,522.

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Investment 24/4/2026

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