Investment 18/5/2025

Last Friday, the Hang Seng Index opened 197 points lower at 25,322, then fell as much as 351 points to a low of 25,167. The index fell 249 points, or 0.97%, to 25,270. The Tech Index fell 32 points, or 0.58%, to 5,543. Southbound funds net bought over HK$35.8 billion, a record high. Main Board turnover reached HK$312.6 billion.


For the week, the Hang Seng Index rose 411 points, or 1.65%.


The Hang Seng Index climbed to a high of 25,766 last week, narrowly breaking the previous high of 25,735. Unfortunately, it failed to close above it, so it cannot be considered a breakthrough. It may simply be consolidating at the month-long high. However, there is still hope that it will break through the 25,766 high and challenge the 26,000 level. If the Hang Seng Index fails to break through, it will likely seek support downward in the short term. Having held above its 20-DMA (25,151) last Friday, if this level is breached, the 50-DMA  (24,518) is expected to offer strong support.


European stocks saw mixed performance, with French stocks rising 0.67% and British and German stocks falling 0.42% and 0.07%, respectively.


Latest US data showed mixed results, and with the market awaiting the outcome of the Alaska summit between US and Russian leaders, US stocks continued to consolidate on Friday, with technology stocks performing differently. The Dow Jones Industrial Average opened 248 points higher, extending its gains to as much as 292 points, breaking its December 2024 intraday record high to 45,203 points. The S&P 500 also slightly breached its peak, rebounding 0.2% to 6,481 points before falling as much as 0.41%. The tech-heavy Nasdaq Composite Index fell 0.66%.


At the close of U.S. trading, the Dow Jones Industrial Average rose 34 points, or 0.08%, to 44,946; the S&P 500 fell 18 points, or 0.29%, to 6,449; and the Nasdaq Composite dropped 87 points, or 0.4%, to 21,622.


For the week, the Dow Jones Industrial Average climbed 1.74%, the S&P 500 rose 0.94%, marking its second consecutive week of gains, while the Nasdaq gained 0.81%.


The U.S. dollar index fell 0.53% to 97.73, the euro rose 0.59% to $1.1718, and the yen rose 0.69% to 146.74 per dollar. Bitcoin fell 1.98% to $116,937.

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