Investment 6/8/2025

Hong Kong stocks fluctuated yesterday. The Hang Seng Index opened 13 points higher in the morning and rose 129 points shortly after the opening, then fell 46 points. It rose as much as 192 points in the afternoon, reaching a high of 24,925 points. For the day, it rose 169 points, or 0.68%, to 24,902 points. The Tech Index rose 39 points, or 0.72%, to 5,521 points. Market turnover exceeded HK$229.3 billion.


If the expected rebound continues yesterday and returns above the March top of 24,874 points, a break above last month's high of 25,744 points and above 26,000 points would confirm a double bottom pattern. Based on the measured gains, 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 (24,251). If it fails to break below, there is a chance it could fall to the 100-DMA (23,517). Continue to monitor corporate earnings and mainland economic data. Unless there's significant external news, the market is expected to fluctuate in the short term.


European stock markets saw mixed results, with UK and German stocks rising 0.16% and 0.37% respectively, while French stocks closed down 0.14%.


Latest US service sector data showed disappointing performance, prompting a rebound in US stocks on Tuesday. The Dow Jones Industrial Average opened 26 points higher, rising as much as 134 points to 44,308 before falling 249 points to 43,923. The S&P 500 briefly reversed course, falling 0.64%, while the tech-heavy Nasdaq Composite Index fell as much as 0.76%.


At the close of US trading, the Dow Jones Industrial Average fell 61 points to 44,111; the S&P 500 fell 30 points, or 0.49%, to 6,299; and the Nasdaq Composite dropped 137 points, or 0.65%, to 20,916.


The US dollar index fluctuated, rising 0.29% to 99.074, while the euro fell 0.37% to $1.1528 and the yen dropped 0.5% to 147.83 per dollar. Bitcoin fell as much as 2.3% to $112,763.

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