Investment 19/5/2025

The Hang Seng Index opened 204 points lower at 23,249 points, and then fell 262 points to 23,190 points. The daily decline narrowed to 108 points or 0.46% to 23,345 points; the Technology Index fell 16 points or 0.31% to 5,281 points. The Main Board's turnover was HK$190.7 billion.

At the beginning of last week, the market surged on the truce in the Sino-US tariff war, but has only been rising and falling since then, reflecting that market confidence has not yet fully recovered. Although the Hang Seng Index fell last Friday, it still maintained its upward trend. If the short-term adjustment holds the 10-DMA (23,060), it should not be viewed too pessimistically. It is expected to fluctuate mainly between 22,800 and 23,800 points. In the medium term, it is expected to challenge the 25,000 point mark again. The Hang Seng Index has continued to rebound from its low in April. Funds have accumulated sufficient stocks during this period and are not very willing to buy more stocks now. In addition, the share prices of major technology stocks performed poorly after earnings results, which may drag down the overall market performance in the short term. Unless Northbound funds enter the market again to buy stocks in large quantities, there is little chance of further breakthroughs for Hong Kong stocks in the short term.

European stock markets closed stable, with UK, French and German stocks rising 0.59%, 0.42% and 0.3% respectively.

The United States and Europe reportedly began tariff negotiations, U.S. consumer inflation expectations climbed to a more than 40-year high, and U.S. stocks fell and then rose on Friday, with the S&P 500 eventually rising for five consecutive days. After opening 33 points higher, the Dow Jones Industrial Average fell 90 points to a low of 42,232 points. It then rebounded from the low and rose as much as 340 points in the final stage to a high of 42,663 points. The S&P 500 rose 0.7% at one point, while the Nasdaq fell 0.39% and then rebounded, rebounding 0.53%.

At the close of U.S. stocks, the Dow Jones Industrial Average rose 331 points, or 0.78%, to 42,654 points; the S&P 500 rose 41 points, or 0.7%, to 5,958 points; and the Nasdaq rose 98 points, or 0.52%, to 19,211 points. Last week, the Dow Jones Industrial Average gained 3.4%, the S&P 500 rose 5.3%, and the Nasdaq rose 7.2%.

The U.S. dollar index once rose 0.38% to 101.26, the euro fell 0.47% to $1.1186, and the yen fell 0.29% to 146.11 per dollar. Bitcoin rose 1.66% to $104,503.

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