Investment 5/8/2025
The Hang Seng Index opened 75 points lower at 24,431, then fell 135 points to 24,372 before reversing its downward trend and surging 240 points to 24,748 in the afternoon. The index rose 225 points, or 0.92%, to 24,733 for the day. The Tech Index rose 83 points, or 1.55%, to 5,481. Main Board turnover totaled HK$234.6 billion.
The Hong Kong stock market fell below the March top of 24,874 points last week with a large bearish candlestick. If the rebound continues today and the market can break above last month's high of 25,744 points and rise above 26,000 points, it would confirm a double bottom pattern. Based on the measured increase, the medium- to long-term target is 30,800 points. If there is a correction, the Hang Seng Index faces support at the 50-DMA (24,219). If it fails to break below, there is a chance it could fall to the 100-DMA (23,506). This week, continue to monitor corporate earnings and mainland economic data. Barring significant external news, the market is expected to fluctuate in the short term.
European stock markets stabilized, with UK, French, and German stocks closing up 0.66%, 1.14%, and 1.42%, respectively.
As the market digested the disappointing US jobs data and concerns about tariffs, US stocks stabilized on Monday as investors took advantage of bargain hunting. The Dow Jones Industrial Average opened 139 points higher before turning upward, rebounding as much as 599 points near the close, reaching 44,188. The S&P 500 rose as much as 1.49%, reversing a four-day losing streak. The tech-heavy Nasdaq Composite Index gained 1.96%.
At the close of U.S. trading, the Dow Jones Industrial Average rose 585 points, or 1.34%, to 44,173, recouping all losses from last week's sharp stock market plunge triggered by weak jobs data. The S&P 500 rose 91 points, or 1.47%, to 6,329, while the Nasdaq Composite rose 403 points, or 1.95%, to 21,053.
The U.S. dollar index fell another 0.55% to a low of 98.592. The euro fell 0.32% to $1.155, while the yen rose 0.36% to 146.87 per dollar. Bitcoin rose as much as 1.36% to $115,707.
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