Investment 19/6/2025

The Hang Seng Index opened 120 points lower at 23,859 points and continued to fall, falling 348 points to 23,631 points at one point, and fell 269 points or 1.12% to 23,710 points for the day; the Technology Index fell 77 points or 1.46% to 5,214 points. The main board turnover was HK$181.9 billion.


The situation in the Middle East continued to be tense, and the latest US retail data was also poor, but the panic sentiment did not spread. Although the Hong Kong stock market followed the external pressure, the adjustment range was also limited. In addition, the market is looking forward to the important meeting in the Mainland or the introduction of policies to support the financial market. If the Hang Seng Index can hold above the 20-DMA (23,717) and close, it is still expected to re-reach the 24,000 mark in the future; on the contrary, once it is confirmed that the 20-DMA  has been lost, there is a chance to test the support of the 100-DMA (22,691). The weakening of the US dollar has been beneficial to Asian emerging market stocks in the past. However, Morgan Stanley, a US brokerage firm that had previously raised the Hang Seng Index's target to 24,500 points in the middle of next year under basic conditions, said that the current round of US dollar decline is less beneficial to emerging markets, and bluntly stated that the Hang Seng Index has little chance of rising above the target level, and it is the upper limit of the Hang Seng Index.


European stock markets were in a state of contention, with British stocks closing up slightly by 0.11%, while French stocks and German stocks closed down by 0.36% and 0.5% respectively.


US President Trump revealed that Iran was seeking negotiations to cool down tensions in the Middle East. After opening 20 points higher, the Dow Jones Industrial Average expanded its gains to a maximum of 294 points, reaching a high of 42,510 points; the S&P 500 rose 0.59% and the Nasdaq, which is dominated by technology stocks, rose 0.72% at one point. The Federal Reserve subsequently announced that the target range of interest rates remained unchanged, maintaining it between 4.25% and 4.5% for four consecutive times, in line with expectations, and hinted that it was not in a hurry to cut interest rates. The market still expected a 50% cut this year. After the announcement of the interest rate decision, the Dow Jones Industrial Average lost nearly 300 points of gains in the day and fell slightly, while the Nasdaq Composite Index stabilized repeatedly.


At the close of the U.S. stock market, the Dow Jones Industrial Average gave up 44 points or 0.1% to 42,171 points; the S&P 500 fell slightly by 0.03% to 5,980 points; the Nasdaq Composite Index rebounded by 0.13% to 19,546 points.


The U.S. dollar index fell by 0.34% to 98.48; the euro rose by 0.43% to 1.1531 yuan; the Japanese yen rose by 0.65% to 144.34 per dollar.

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