Investment 17/7/2025
Hong Kong stocks fell after hitting a high of about 4 months, ending the 4-day rally. The Hang Seng Index opened 113 points higher at 24,704 points, and then expanded its gains to 277 points, reaching a high of 24,867 points since March. However, it fluctuated in the afternoon and closed at the all-day low of 24,517 points, down 72 points or 0.29%; the Technology Index fell 12 points or 0.23% to 5,418 points. The main board traded HK$258.9 billion.
If the Hang Seng Index fails to break through 24,874 points today and tomorrow, the market may face the risk of a decline in the future, testing the support of 23,600 points. If the neckline of the multi-top situation at 23,185 is lost, the measured decline may reach 21,900. Mainland China's GDP growth in the last quarter exceeded expectations, and China-US trade negotiations have also made progress. In addition, the latest mild inflation in the United States has increased market expectations for the Federal Reserve to cut interest rates. Whether the Hong Kong stock market can go further depends on whether potential risks can be eliminated, including whether the United States can reach a trade agreement with other countries.
European stock markets closed lower repeatedly, with the UK, France and Germany stock markets falling 0.13%, 0.57% and 0.21% respectively.
The latest US economic data eased concerns that tariffs will push up inflation. The Dow Jones Industrial Average opened 129 points higher on Wednesday, and the increase expanded to more than 200 points, and then fluctuated. It is reported that Trump has drafted a letter to fire Federal Reserve Chairman Powell. Under the influence of risk aversion, the Dow Jones Industrial Average fell as much as 264 points, hitting a low of 43,758 points. Later, Trump said that he did not intend to fire Powell, and the Dow Jones Industrial Average once rose 236 points, reaching a high of 44,260 points. The S&P 500 fell 0.68% and the tech-heavy Nasdaq fell as much as 0.83%. Both indexes closed higher, with the Nasdaq hitting its ninth record high.
At the close of the U.S. stock market, the Dow Jones Industrial Average still rose 231 points, or 0.53%, to 44,254 points; the S&P 500 rose 20 points, or 0.32%, to 6,263 points; and the Nasdaq rebounded 52 points, or 0.25%, to 20,730 points.
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