Investment 27/10/2025

The Chinese and US heads of state will meet this week. The Hang Seng Index opened 209 points higher at 26,177, rising 271 points to 26,239, and ended the day up 192 points, or 0.74%, at 26,160. The Tech Index rose 108 points, or 1.82%, to 6,059. Main Board turnover reached HK$226.6 billion.


For the week, the Hang Seng Index rose 913 points, or 3.61%. The Tech Index outperformed the Hang Seng Index, rising 299 points, or 5.28%, its largest weekly gain in three weeks.


With four trading days remaining this month, Thursday is the settlement date for the front-month index futures. Technically, there should be stabilizing buying, allowing for rollover and settlement of this month's index futures above 26,000 points. After two consecutive days of gains, the Hang Seng Index re-crossed its 50-DMA (25,959), signaling a potential stabilization. It is expected to re-cross the 20-DMA (26,276) today. However, strictly speaking, the Hang Seng Index must successfully hold above the 20-DMA for the market to be considered truly stabilized. Following the meeting between Chinese and American officials on Sunday, the market is optimistic about a further de-escalation of trade tensions. Analysts believe that a successful meeting between the two leaders generally signals good news, and the Hang Seng Index could reach 26,800 points this week.


European stock markets showed mixed results, with UK and German stocks rising 0.7% and 0.13%, respectively, while French stocks fell less than 1 point.


US inflation in September was 3%, milder than expected, and the Federal Reserve is expected to continue cutting interest rates this week. US stocks performed significantly better on Friday, with all three major indices breaking intraday highs and setting new closing highs. The Dow Jones Industrial Average closed above 47,000 points for the first time. The Dow Jones Industrial Average opened 76 points higher, extending its gains to as much as 592 points, reaching a high of 47,326. The S&P 500 rose 1.02% to 6,807, while the tech-heavy Nasdaq Composite climbed 1.39% to 23,261.


At the close of trading, the Dow Jones Industrial Average was at 47,207, up 472 points, or 1.01%, while the S&P 500 rose 53 points, or 0.79%, to 6,791. The Nasdaq Composite rose 263 points, or 1.15%, to 23,204. Last week, the Dow Jones Industrial Average rose 2.2%, the S&P 500 rose 1.9%, and the Nasdaq fell 2.3%. So far this year, the S&P 500 has risen 15%, while the Nasdaq has gained 20%.


Market analysts predict that Wednesday and Thursday of this week will determine whether the US stock market bull market can continue its momentum for the rest of the year. Microsoft, Alphabet, Meta, Amazon, and Apple Inc. will release their quarterly earnings in the next two days. Investors are focused not only on these companies' outlooks for cloud computing, e-commerce, electronics, and digital advertising, but also, most importantly, on the prospects for artificial intelligence. Investment in AI has been a major driver of the bull market of the past three years, but investors are increasingly questioning when these investments will pay off. If they fail to receive satisfactory answers from companies' financial statements and management outlooks, market enthusiasm could be dampened, putting a damper on the current bull market.


The US dollar index briefly fell 0.21% to 98.728, while the euro rose 0.27% to $1.165. The Japanese yen fell 0.32% to 153.06 per dollar. Bitcoin rose as much as 2.23% to $112,006.

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