Investment 14/7/2025

After opening 4 points higher at 24,033 points, the Hang Seng Index once expanded its gains to 477 points, reaching a high of 24,506 points. The upward trend reversed in the late trading, and the whole day rose by 111 points or 0.46% to 24,139 points; the Technology Index rose by 31 points or 0.61% to 5,248 points. The main board turnover increased to HK$323.9 billion.

Hong Kong stocks lack rising catalysts in the short term, and the Hang Seng Index is likely to remain between 23,500 and 24,500 points. The Hang Seng Index has risen to 25,000 several times in recent weeks but failed to break through. It rose to the previous high of 24,533 last Friday and then fell sharply. It may form a small double top with another high of 24,439 in June. The neckline is at 23,185. If this level is lost, the decline may reach 21,900.

The US tariff policy (especially the potential high tariffs on copper and medicines) and the weakening of the US dollar may affect investor sentiment and lead to volatility in Asian stock markets. The Hong Kong dollar has been weak recently, and the Hong Kong Monetary Authority has entered the market to buy Hong Kong dollars many times, which has increased market volatility and put pressure on Hong Kong stocks. Mainland economic growth has not seen significant improvement, so the current valuation of Hong Kong stocks is unlikely to have much room for improvement. However, Hong Kong stocks are still not too pessimistic at present, because there are still many stocks that support the performance of the market, such as domestic banks that focus on income, international bank stocks, IPO new stock markets, growth stocks, and stocks sought after by Northbound funds.

European stock markets were under pressure, with British, French and German stocks falling 0.38%, 0.92% and 0.82% respectively.

US stocks were under pressure to give back on Friday. After the Dow opened 169 points lower, the decline widened to 375 points, reaching a low of 44,275 points; the S&P and Nasdaq both pulled back from record highs, with the S&P falling 0.68% at one point and the Nasdaq, which is dominated by technology stocks, falling as much as 0.59%.

At the close of the U.S. stock market, the Dow Jones Industrial Average was at 44,371 points, giving up 279 points or 0.63%; the S&P 500 fell 20 points or 0.33% to 6,259 points; and the Nasdaq fell 45 points or 0.22% to 20,585 points.

The U.S. dollar index rose 0.32% to 97.964; the euro fell 0.31% to $1.1667; the yen fell as much as 0.86% to 147.52 per dollar.

Bitcoin further broke through the top, rising sharply by 4.63% to $118,847, and option speculators bet further increased to $120,000. CoinGlass data showed that more than $1 billion of short positions were closed in the past 24 hours.

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Investment 24/4/2026

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