Investment 29/7/2025

After opening 70 points higher at 25,458 points, the Hang Seng Index once expanded its gains to 279 points, reaching a high of 25,667 points, up 173 points or 0.68% for the day to 25,562 points; the Technology Index fell 13 points or 0.24% to 5,664 points. The main board turnover was HK$250.2 billion.


Hong Kong stocks rebounded after a day of retreat. The overbought situation has not been completely improved. In addition, many investors may take the opportunity to reduce the weight of "crab goods" held for several years. Hong Kong stocks may face certain resistance at the 26,000 point level at this stage. The key to the breakthrough in the future market lies in whether the performance of large technology stocks can drive the stock price upward. If the performance is not ideal, there may be a wave of rights issues again, dragging down the market atmosphere. Unless there is an unexpected surprise during the August performance period, it will be difficult to rise sharply. However, BOC International believes that the current market valuation is still attractive, so it has raised the target for the end of this year to 27,500 points, which is equivalent to a forecast price-earnings ratio of 12.2 times.


European stock markets rose first and then fell back, with British, French and German stocks turning around and falling 0.43%, 0.43% and 1.02% respectively.


The US and the EU reached a trade agreement, which was good for the market atmosphere. After the US S&P 500 hit a record high for five consecutive days last week, it continued to break the top on Monday, rising 0.19% to 6,401 points; the Nasdaq also set a new intraday record, rising 0.44% to 21,202 points at one point, and both the Nasdaq and the S&P 500 hit new historical highs at the close; but after the Dow opened 45 points higher, it turned around and fell as much as 161 points, with a low of 44,739 points.


At the close of the US stock market, the Dow Jones Industrial Average repeatedly gave up 64 points or 0.14% to 44,837 points; the S&P 500 rose slightly by 1 point or 0.02% to 6,389 points; the Nasdaq rose 70 points or 0.33% to 21,178 points.


The US dollar index rose 1.05% to 98.68, the euro fell 1.34% to $1.1586, and the yen fell 0.62% to 148.58 per dollar. Bitcoin fell 2% to $117,428.

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