Investment 29/4/2026

The Hang Seng Index opened 111 points lower at 25,814 and continued its downward trend, falling as much as 316 points in the afternoon to a low of 25,609. It closed down 245 points, or 0.94%, at 25,679. The Technology Index fell 112 points, or 2.28%, to 4,827. Total market turnover was HK$262.3 billion.

It is anticipated that the US and Iran will not reach a negotiation agreement soon; furthermore, the liquidity drain and the upcoming May Day holiday have contributed to the two consecutive days of decline in Hong Kong stocks. The Hang Seng Index may test the support level of the 250-day moving average (25,404), while the 100-day moving average (26,098) will turn from support to resistance. Investors should not rush into the market now but should adopt a risk-averse strategy, waiting for the Hang Seng Index to potentially fall to the 24,409 level before considering buying on dips to position for a rebound.

European stocks traded mixed, with the UK FTSE 100 rising slightly by 0.11%, while French and German stocks fell by 0.46% and 0.27% respectively.

US stocks opened 109 points higher, with the Dow Jones Industrial Average extending its gains to as much as 213 points before reversing course and falling as much as 90 points to a low of 49,077, pressured by technology stocks. The S&P 500 and Nasdaq Composite both retreated from record highs, with the S&P 500 dropping as much as 0.82% and the technology-heavy Nasdaq plunging as much as 1.46%.

At the close, the Dow Jones Industrial Average fell 25 points, or 0.05%, to 49,141; the S&P 500 dropped 35 points, or 0.49%, to 7,138; and the Nasdaq Composite declined 223 points, or 0.9%, to 24,663.

The US dollar index rose as much as 0.38% to 98.874, while the euro fell 0.38% to $1.1677. Following the Bank of Japan's policy meeting, which did not provide a clear indication of when interest rates would be raised, the yen fluctuated and fell 0.23% to 159.79 against the dollar. Bitcoin fell as much as 1.69% to $75,665.