Investment 4/7/2025

The Hang Seng Index opened 12 points higher at 24,234 points and then fell back, falling 301 points to 23,920 points at one point, and fell 151 points or 0.62% to 24,069 points for the whole day; the Technology Index fell 35 points or 0.67% to 5,233 points. The main board turnover was HK$231.2 billion.

Yesterday, the index fluctuated and was weak. It opened slightly higher in the morning and then fell back. The decline intensified in the afternoon, indicating that the market was cautious. The recent resistance level is the mid-March high of 24,874 points. The 20-day moving average (24,009) support should not be lost, otherwise it must retreat to around 23.700. The market is concerned about the US Federal Reserve's interest rate cuts and the progress of trade tariff negotiations, which affect investor confidence. Technology stocks performed relatively stable, but there was a large selling pressure on state-owned enterprise stocks. It is expected that the Hong Kong stock market will continue to consolidate sideways at the 20-day moving average in the short term, waiting for new catalysts such as interest rate trends and corporate performance to challenge the psychological barrier of 25,000 points.

European stock markets performed well, with British, French and German stocks rising by 0.55%, 0.21% and 0.61% respectively.

The US only had a half-day market before the Independence Day holiday on Thursday. The latest employment data was stronger than expected. Non-agricultural job growth in June exceeded expectations for four consecutive months, showing that the US economy is still strong. Even if traders give up the Fed's forecast of a rate cut this month, the Dow Jones Industrial Average opened 81 points higher and rose significantly in the early stage, with the increase expanding to a maximum of 401 points, reaching a high of 44,885 points; the S&P 500 rose 0.92% to 6,284 points; the Nasdaq, which is dominated by technology stocks, climbed 1.13% to a high of 20,624 points.

The Dow Jones Industrial Average closed up 344 points, or 0.77%, at 44,828 points; the S&P 500 and Nasdaq Composite Index continued to break their peaks and set new closing highs. The S&P 500 closed up 51 points, or 0.83%, at 6,279 points; the Nasdaq Composite Index rebounded 207 points, or 1.02%, to 20,601 points.

The U.S. stock market will be closed on Friday due to the Independence Day holiday. So far this week, the Dow Jones Industrial Average has jumped 2.3%, the S&P 500 has risen 1.7%, and the Nasdaq has climbed 1.6%.

The U.S. dollar index once rebounded 0.67% to 97.422, while the euro fell 0.69% to $1.1718; the yen fell 1.09% to 145.23 per dollar. The pound stopped falling and stabilized, rising 0.29% to $1.3676. Bitcoin rose as much as 1.25% to $110,574.