Investment 8/12/2025

On Friday, the Hang Seng Index opened 102 points lower, rose 195 points to a high, and fell 177 points to a low, with a range of 373 points. It closed up 149 points, or 0.58%, at 26,085 points. Market turnover was HK$210.4 billion, an increase of 17.38% from the previous day, the highest since the HK$231.1 billion turnover on November 25th. The percentage of advancing stocks was 38.22%, declining stocks 32.07%, and unchanged stocks 29.69%. The Hang Seng Tech Index closed at 5,662 points, up 0.84%. Hong Kong stocks rose for two consecutive days, stabilizing above the 26,000-point mark. For the week, it rose 226 points, or 0.87%, marking two consecutive weeks of gains.


The market is unlikely to break out of its short-term sideways pattern. The key support level for the Hang Seng Index is the 100-day moving average (25,821). A significant upward move is possible only if it breaks through the 50-day moving average (26,203). The lackluster quarterly results of Chinese technology stocks, coupled with lingering concerns about intense competition, have dragged down the sector's overall performance. As for previously strong Chinese financial stocks, the insurance sector saw a pullback following the A-share market correction, while Chinese banks also faced adjustment pressure after accumulating some gains.

The US Federal Reserve's interest rate decision is expected to likely result in a rate cut, while the Bank of Japan is likely to raise rates this month. Although this could potentially trigger the unwinding of yen carry trades, similar events have historically had limited impact on Hong Kong stocks, and the market is already prepared for this event. It is not expected to trigger large-scale capital flows leading to significant market volatility. It is believed that trading volume in Hong Kong stocks will not recover until January at the earliest, after institutions have redeployed their strategies. Important meetings and policies in mainland China will be potential drivers for Hong Kong stocks in the future, including the Central Economic Work Conference expected this month and the "Two Sessions" next quarter, but short-term policy stimulus is expected to be limited.

European stocks showed mixed performance, with German stocks rising 0.61%, while British and French stocks fell 0.45% and 0.09% respectively.

US consumer confidence rebounded, coupled with a robust economy and expectations of a Federal Reserve rate cut next week, leading to a strong performance in US stocks on Friday. The Dow Jones Industrial Average opened 28 points higher and then extended its gains to 282 points, reaching a high of 48,133 points; the S&P 500 rose as much as 0.56% to 6,895 points, just 0.35% below its all-time high; and the Nasdaq Composite rose as much as 0.74%.

At the close of US trading, the Dow Jones Industrial Average stood at 47,954 points, up 104 points; the S&P 500 rose 13 points, or 0.19%, to 6,870 points, marking its fourth consecutive day of gains; and the Nasdaq Composite rose 72 points, or 0.31%, to 23,578 points.

Technically, the US dollar index has entered a short-term consolidation range between 98.8 and 100. However, the overall trend remains unchanged, following the sharp drop from 110 to 96.4 in the first half of 2025, followed by consolidation within the low range of 96.2 to 100.2 since July.

Bitcoin had previously retreated 4.6% to $88,413.

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Investment 24/4/2026

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The Hang Seng Index opened 64 points lower at 26,098, and the decline widened to 322 points at one point, reaching a low of 25,840. It closed down 248 points, or 0.94%, at 25,915. The Technology Index fell 98 points, or 1.98%, to 4,865. Total market turnover was HK$255.3 billion. The Hang Seng Index broke below the 16,000-point mark. However, due to the relatively lagging performance of Hong Kong stocks and stable market sentiment, a significant correction has not yet occurred. It is believed that the Hang Seng Index can hold the 250-day moving average (25,349), a key level for bull and bear markets, while facing strong resistance at 27,000 points. European stock markets showed mixed performance, with British and German stocks falling 0.19% and 0.16% respectively, while French stocks rose 0.87%. With the Middle East situation unresolved and investors awaiting the implementation of peace talks, international oil prices remained high, putting pressure on US stocks on Thursday. The Dow Jo...
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Investment 27/4/2026

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