Investment 13/11/25
The Hang Seng Index opened 58 points higher at 26,754, and then extended its gains to 319 points, reaching a high of 27,016 before retreating to close up 226 points or 0.84% at 26,922, marking its third consecutive day of gains. The Technology Index rose 9 points or 0.16% to 5,933. Main board turnover was HK$236.3 billion.
The Hang Seng Index briefly climbed back above the 27,000 mark, reaching 27,016, but weak trading volume indicated cautious investor sentiment. If the Hang Seng Index can continue to stabilize at its current level, Hong Kong stocks still have room for further gains. The key resistance level is the October 2nd high of 27,381. A break above this level would likely lead to further gains towards new highs for the year, and could even develop into another medium-term upward trend, targeting 28,247.
European stock markets performed well, with French and German stocks both rising over 1%, and British stocks slightly up 0.12%. U.S. stocks rallied on Wednesday as the U.S. government shutdown is expected to end soon. The Dow Jones Industrial Average hit record intraday and closing highs, closing above 48,000 points for the first time. The Dow opened 87 points higher and then extended its gains to as much as 503 points, reaching a high of 48,431. The S&P 500 rose 0.34% before fluctuating, while the tech-heavy Nasdaq initially rose 0.41% before falling as much as 0.81%.
At the close, the Dow Jones Industrial Average was up 326 points, or 0.68%, at 48,254; the S&P 500 rose 4 points, or 0.06%, to 6,850; and the Nasdaq Composite fell 61 points, or 0.26%, to 23,406.
The U.S. dollar index rose as much as 0.27% to 99.71, while the euro fell 0.16% to $1.1563. British Prime Minister John Stiglitz is rumored to be facing a cabinet resignation, causing the pound to fall as much as 0.51% to $1.3084. The yen fell below the key psychological level of 155 against the dollar, hitting a low of 155.03, a drop of 0.56%. Bitcoin rose as much as 2.64% to $105,310 before turning negative.
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