Daily Investment Strategy
Hang Seng Index rose 131 points on Thursday
The Hang Seng Index closed at 17,240 points for the day, rose 131 points or 0.8%. The Hang Seng Technology Index reported at 3,475 points, rose 24 points or 0.7%. The HSCEI Index rose 34 points, or 0.6%, to 6,017 points. The market turnover was HK$91.6 billion.
Tech stocks rise, S&P gains for fourth straight day
U.S. stocks rose on Thursday as investors continued to shake off a rough start to September and bought technology stocks on dips in anticipation of a rate cut from the Federal Reserve next week. The S&P 500 rose 0.75% to close at 5,595.76, marking its fourth consecutive day of gains. The Dow Jones Industrial Average rose 235.06 points to close at 41,096.77 points, an increase of 0.58%. The Nasdaq rose 1% to close at 17569.68 points. Big tech and semiconductor stocks continued their gains on Thursday, boosting the market in afternoon trading. Nvidia rose 1.9%, while Alphabet and Facebook parent Meta Platform both gained more than 2%. Shares of database software maker Oracle rose about 6% in after-hours trading Thursday after the company raised its fiscal 2026 revenue guidance. European stocks closed higher after the European Central Bank cut interest rates. All major regional stock markets closed higher, with Germany's DAX index closing up 0.97%. Various sectors are also in the rising zone, including technology stocks and mining stocks.
PPI rose 0.2% in August
Excluding food and energy, PPI rose 0.3%, slightly higher than expectations of 0.2%. In addition, the U.S. Department of Labor announced that in the week ending September 7, the number of people filing for initial jobless claims was 230,000, an increase of 2,000 from the previous week and higher than the estimate of 225,000. At the same time, the ECB cut interest rates again by 0.25% on Thursday. The market currently expects the Federal Reserve to cut interest rates at next week's FOMC meeting.
Hong Kong Stock Connect had a net inflow of HK3.07bn on Thursday of which Alibaba (9988) had the largest net inflow, reaching HK$3.51bn; followed by Tracker Fund (2800). HKEX (388) recorded the largest net outflow at HK$6.34bn, followed by Meituan (3690).
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