There is a turning point in the trade war. Hong Kong stocks 29000
The key issue of Liu He’s consultation with the US trade representative spurred Hong Kong stocks to rise 417 points yesterday. Tan Derun photo
[Reporter] Sino-US trade negotiations entered the final critical moment, the United States Boeing company suddenly broke out of the crisis, its 737 main passenger aircraft facing a global ban, some analysts said, “equal to falling in the sky, China will decline", will make China negotiate The situation has greatly improved. Sino-US trade negotiations entered the Dazhi Road, stimulating Hong Kong stocks to rise more than 400 points yesterday, and once again forced the 2,900 mark.
The Hang Seng Index opened 256 points higher yesterday morning, and the mainland media announced that Vice Premier Liu He and the US Trade Representative had a phone call to discuss key issues. Hong Kong stocks rose more and more in the afternoon, eventually closing at 28,920 points, up 417 points or 1.46%; H pointed to 11466 points, up 189 points or 1.68%; the main board turnover was 109 billion yuan. Blue-chip stocks were almost all-round, Tencent (700) rose 1.7% to 361 yuan.
The Ethiopian air crash caused 157 people on board to be killed and the incident shocked the world. The Civil Aviation Administration of China announced on the 11th of this month that it would suspend the domestic Boeing 737 MAX 8 aircraft. Li Jian, deputy director of the Civil Aviation Administration, said that the same aircraft had two flight accidents in more than 130 days, which brought great pressure on the Chinese civil aviation regulatory authorities. Make a decision to ground the flight and emphasize that China is the first country in the world to do so. Yesterday, the Chinese Foreign Ministry made a rare statement, saying that there is no timetable for when to go around.
Boeing crisis helps China increase its chips
Peng Yu, an economist at ING, said: “The Chinese government’s response is fast and big, so it is obvious that it wants to do big things." She said that China-US negotiations are in the final stage, and China has been forced to buy a large number of US products. Among them, the Boeing aircraft is the most important project. If there is a problem with the safety, China’s negotiating position will be greatly improved. In addition, China can also transfer orders to European Airbus for security reasons, making the European and American camps different.
China is a major customer of Boeing. According to Boeing data, as of January 2019, 737 MAX has delivered a total of 350 aircraft worldwide, 180 of which are ordered by Chinese airlines. At present, 11 countries have stopped flying Boeing 737 MAX 8 aircraft, but the United States still allows the aircraft to fly. Peng Yu said, “Aircraft manufacturing is a pillar industry in the United States. The United States wants to die to support Boeing. It is equal to China’s death to support Huawei." If the US government strengthens its efforts to suppress Huawei, China can also exert pressure on Boeing for security reasons, making the US scrupulous. She believes that the Boeing crisis can reduce the pressure on the United States to contain Huawei and free China from the previous “beating" in the scientific and technological war.