Investment 25/6/2026

The Hang Seng Index opened 84 points higher at 23,420, then fluctuated between 23,250 and 23,400 in the morning session before rising significantly in the afternoon, reaching a high of 23,565, a gain of 229 points. It closed up 75 points, or 0.32%, at 23,412. The Technology Index rose 79 points, or 1.81%, to 4,479. Total market turnover was HK$322.9 billion.


Hong Kong stocks ended a five-day losing streak, but the outlook remains pessimistic. The Hang Seng Index is expected to face significant resistance at 23,800, with a high probability of testing the 22,986 technical level. The Hong Kong stock market exhibits the "May slump, June crash" pattern, with the Hang Seng Index repeatedly searching for a bottom, reflecting continued market weakness. Only a loosening of monetary policy by banks after the July half-year closing offers a chance for a market rebound. With traditional large-cap tech stocks like AT&T and MJ showing weakness, funds have now shifted to speculating on new tech stocks such as chips and memory cards, while traditional tech stocks are no longer the market focus. One bank lowered its year-end target for the Hang Seng Index from 30,800 to 27,100 points.


European stock markets were mixed, with British and French stocks rising 0.31% and 0.54% respectively, while German stocks fell 0.62% due to pressure on defense stocks.


As more oil tankers passed through the Strait of Hormuz, New York crude oil futures fell below $70 per barrel for the first time since early March. Coupled with declining US Treasury yields, the Dow Jones Industrial Average opened slightly lower by 6 points on Wednesday, then rallied as much as 581 points to a high of 52,248, less than 100 points below its all-time high. The S&P 500 rose as much as 0.85%, while the tech-heavy Nasdaq Composite rose as much as 0.99% before falling as much as 0.91%. The S&P 500 also initially rose before declining.


U.S. stocks closed with the Dow Jones Industrial Average up 182 points, or 0.35%, to 51,848; the S&P 500 fell 7 points, or 0.1%, to 7,358; and the Nasdaq Composite dropped 110 points, or 0.43%, to 25,476.


The U.S. dollar index rose as much as 0.39% to 101.8, and the Bloomberg Dollar Spot Index rose 0.38%, hitting a seven-month high. The euro fell 0.5% to $1.1325; the yen fell 0.17%, hitting a low of 161.85 against the dollar. Bitcoin fell as much as 6.4% to $59,029. Spot gold prices fell below $4,000 per ounce for the first time since November last year.


Below: Satellite imagery shows smoke billowing from the Crimean Bridge spanning the Kerch Strait, which appears to have been attacked by a Ukrainian drone. (AFP)

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Investment 24/4/2026

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Investment 27/4/2026

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