Investment 20/11/2025

The Hang Seng Index opened 24 points higher at 25,954, rising as much as 115 points to 26,045 before softening, falling as much as 187 points to a low of 25,742. It closed down 99 points, or 0.38%, at 25,830. The Technology Index fell 38 points, or 0.68%, to 5,606. Main board turnover was HK$211.4 billion.


Yesterday, the Hang Seng Index fell nearly 200 points at one point, but closed above the 100-DMA (25,613). However, US tech stocks were the epicenter of this decline, and funds are preparing for year-end closing. Looking ahead, the Hong Kong stock market remains in a short-term adjustment period. Weak macro liquidity and corporate earnings expectations have fueled risk aversion. Rapid sector rotation and cautious investor sentiment suggest the market may need to wait for further clarity on US interest rate policy and mainland economic data before seeking a rebound opportunity. The Hang Seng Index is expected to hold above 25,599 points in the short term, and investors should take this opportunity to lock in profits for the year.


European stock markets showed mixed performance, with British, French, and German stocks falling 0.47%, 0.18%, and 0.08% respectively.


Markets are focused on the earnings report released after Wednesday's market close by artificial intelligence (AI) chip giant Nvidia. US stocks temporarily halted their decline, with the Dow Jones Industrial Average opening 46 points higher and extending its gains to a maximum of 207 points, reaching a high of 46,299 points. It later reversed course, falling as much as 186 points to a low of 45,905 points; the S&P 500 rebounded as much as 1.09%, and the tech-heavy Nasdaq Composite rebounded by as much as 1.73%.


U.S. stocks closed with the Dow Jones Industrial Average rebounding 47 points, or 0.01%, to 46,138; the S&P 500 rose 24 points, or 0.38%, to 6,642, both ending a four-day losing streak; and the Nasdaq Composite jumped 131 points, or 0.59%, to 22,564.


The U.S. dollar index stood at 100.14. Bitcoin continued its decline on Wednesday, falling below the $89,000 level again, and is currently down 4.4%, trading at $88,740.

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