Investment 29/9/2025

The Hang Seng Index opened 212 points lower at 26,272, then fell 411 points to 26,072 in the afternoon, bringing its total loss for the day to 26,128 points, or 1.34%. The Tech Index fell 184 points, or 2.88%, to 6,195. Main Board turnover was HK$323.6 billion.

Following last Friday's positive external market conditions, Hong Kong stocks may follow suit and open higher today. However, with the upcoming mainland holiday, trading volume is expected to be soft. The Hang Seng Index has found support at its 20-DMA (24,880). If this level is broken, the bottom of the rising channel near the 50-DMA (25,545) is expected to offer strong support. However, if this level is broken again, the upward trend since May will be disrupted, and the market may enter a longer-term mid-term correction. The Hong Kong stock market's rally was primarily driven by technology stocks. While northbound capital flows remain active, their purchases are not targeted at Hang Seng Index constituents, providing little support for the broader market. The index's short-term upward momentum is limited, and the Hang Seng Index is expected to fluctuate significantly between 26,000 and 26,600 points.

European stocks stabilized, with UK, French, and German stocks rising 0.77%, 0.97%, and 0.87%, respectively.

The latest US inflation indicators suggest prices are under control and consumption is robust. US stocks stabilized on Friday. The Dow Jones Industrial Average opened 154 points higher and rebounded as much as 405 points, reaching a high of 46,353. The S&P 500 rose 0.67% at one point, while the tech-heavy Nasdaq Composite Index fluctuated near its intraday high.

At the close of US trading, the Dow Jones Industrial Average rose 299 points to 46,247; the S&P 500 rose 380.59% to 6,643; and the Nasdaq Composite rose 990.44% to 22,484.

The US dollar index fell as much as 0.43% to 98.13, while the euro rose 0.37% to $1.1709. The Tokyo Core Consumer Price Index, a leading indicator of national inflation, remained at 2.5% year-on-year in September, below expectations for a 2.8% increase. The yen fluctuated, rising 0.25% to 149.42 per dollar. Bitcoin rose as much as 1.4% to $110,315 before retreating.

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