Investment 23/9/2025

The Hang Seng Index opened 85 points lower at 26,459 and continued its decline, falling 341 points to 26,204 for the day, ending the day down 200 points, or 0.75%, at 26,344. The Tech Index fell 36 points, or 0.58%, to 6,257. Main Board turnover was HK$290.5 billion.


As expected, the Hong Kong stock market adjusted, but the Hang Seng Index slightly breached its 10-DMA (26,384). The next support level is the 20-DMA (25,861). If it holds above this level and there are no signs of capital outflow, the market outlook remains positive, with a potential test of 27,000 points. The market is expected to consolidate at high levels in the short term. The Hang Seng Index's range is between 25,900 and 27,000 points. Further progress in Sino-US trade relations or positive news for technology stocks are needed before a strong test of the higher levels is possible.


European stock markets were generally lower, with French and German stocks down 0.3% and 0.48%, respectively, while British stocks edged up 0.11%.


The market has temporarily digested the positive news of the Federal Reserve's interest rate cut, and investors are looking for new catalysts. After a correction early in the session on Monday (the 22nd), US stocks gradually rose. The Dow Jones Industrial Average opened 108 points lower, then fell as much as 279 points to 46,035 before recovering to 46,447. The S&P 500 fell 0.24% before reaching a high of 6,698. The tech-heavy Nasdaq Composite Index rose 0.75% to 22,801.


At the close of trading, the Dow Jones Industrial Average was at 46,381, up 66 points, or 0.14%; the S&P 500 rose 29 points, or 0.44%, to 6,693; and the Nasdaq rose 157 points, or 0.7%, to 22,788. All three major indices closed near their intraday highs, reaching both intraday and closing all-time highs.


The US dollar index fell as much as 0.34% to 97.31, while the euro rose 0.48% to $1.1803 and the yen gained 0.21% to 147.66 per dollar. Bitcoin plummeted 3% to a low of $115,587.

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