Investment 28/8/2025

The Hang Seng Index opened 101 points higher at 25,626, then rose 129 points to 25,653. However, it came under pressure in the afternoon, falling 384 points to a low of 25,140. For the day, it was down 323 points, or 1.26%, at 25,201. The Tech Index fell 84 points, or 1.46%, to 5,697. Main Board turnover totaled HK$371.3 billion.


After two days of correction, the Hong Kong stock market's 14-day Relative Strength Index (RSI) has fallen back to 65, below 80, temporarily easing its overbought conditions. However, the Hang Seng Index is expected to revisit its 20-DMA (25,126) in the short term. If it fails to break below this level, it could potentially test 24,800 points. The market could continue to fluctuate upward, potentially testing the 26,000 mark. At this stage, estimating a top is of little significance. As long as a turning point signal (14-day RSI above 80) is not present, the Hong Kong stock market can maintain its upward momentum.


European stock markets showed mixed results, with UK and German stocks down 0.11% and 0.44%, respectively. French stocks rebounded 0.44%, but concerns about political instability persisted.


In response to US export controls and related rhetoric, promoting the development of its domestic semiconductor industry, and safeguarding technological independence and geopolitical stance in the Sino-US tech war, China attempted to restrict state-owned enterprises from purchasing Nvidia H20 chips. The market focused on Nvidia's earnings release. Nvidia, with a market capitalization of approximately $4.4 trillion, saw its share price fall as much as 1.5% before closing slightly lower by 0.1%.


The US stock market rebounded, with the S&P 500 falling 0.13% before hitting a record closing high. The Dow Jones Industrial Average rose as much as 203 points after opening flat, reaching 45,621. The tech-heavy Nasdaq Composite Index fell 0.32% before recovering.


At the close of U.S. stocks, the Dow Jones Industrial Average rose 147 points to 45,565; the S&P 500 rose 15 points, or 0.24%, to 6,481; and the Nasdaq rose 45 points, or 0.21%, to 21,590.

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