Investment 25/6/2025

The Hang Seng Index opened 143 points higher at 23,832 points and continued to rise, rising 540 points to 24,229 points at one point, and rose 487 points or 2.06% to 24,177 points for the day; the Technology Index rose 110 points or 2.13% to 5,297 points. The main board turnover was HK$240.4 billion.

The Hang Seng Index may continue to fluctuate around the 50-day line (23,020), tending to be weak, with the key support level at 22,668 points. If it falls below, it may further drop to 22,461, 21,850 or even 21,239 points. The easing of tensions in the Middle East is believed to be conducive to the rebound of Hong Kong stocks. However, the global trade war is still continuing. After the Hang Seng Index re-crosses the 24,000 mark, the upward momentum is limited. It is expected to rise to 24,500 points, which is the top estimated by foreign investors this year, and the selling pressure will be heavy. In the short term, the 50-day line has support. However, some brokerages have raised the Hang Seng Index target for this year to 25,500 points, corresponding to a forecast price-earnings ratio of about 11 times. Based on yesterday's closing level, the potential upside is about 5.5%, and the annual increase is more than 27%.

European stock markets are up, with British, French and German stocks rising 0.01%, 1.04% and 1.6% respectively.

Federal Reserve Chairman Powell attended a hearing of the House Financial Services Committee on Tuesday and delivered a semi-annual monetary policy report. He did not rule out the possibility of a rate cut in July. In addition, Israel and Iran have roughly ceased fire, and New York oil prices have further fallen by about 6%, alleviating concerns about rising inflationary pressure in the United States. U.S. stocks continued to rise on Tuesday. After opening 225 points higher, the Dow Jones Industrial Average once expanded its increase to 601 points, reaching a high of 43,183 points; the S&P 500 rose 1.27%, only 0.91% lower than the intraday historical high of 6,147 points on February 19 this year; the Nasdaq, which is dominated by technology stocks, rose as much as 1.61%.

At the close of the U.S. stock market, the Dow Jones Industrial Average was at 43,089 points, up 507 points or 1.19%; the S&P 500 rose 67 points or 1.11% to 6,092 points; and the Nasdaq rose 281 points or 1.43% to 19,912 points.

The U.S. dollar weakened, and the U.S. dollar index fell 0.72% to 97.707; the euro rose 0.56% to $1.1643; and the yen rose 1.12% to 144.51 per dollar.