16/7/2018-10

The currency is falling, the airlines are falling.

Hong Kong Wenhui News (Reporter Zhou Shaoji) The RMB’s decline has intensified yesterday, and A shares have fallen another 0.5%, which is not conducive to Hong Kong stock investment sentiment. The Hang Seng Index fell below 200 points yesterday and fell below the 28,000 mark. It fell 106 points to 28,010 points, and hit a low since September last year. The turnover was only 77.8 billion yuan. The market is concerned about the trend of the renminbi. The FOB price against the US dollar has continued to fall. At about 6 pm yesterday, the exchange rate has plunged more than 600 points, and the low price of 6.8029 against one US dollar fell below the 6.8 mark, creating about 1 in mid-July last year. The annual low is nearly 300 points lower than the market closing price.

The renminbi fell, especially on the exchange rate, China Southern Airlines (1055) fell nearly 6%, China Eastern Airlines (0670) fell 5.3%, Air China (0753) fell nearly 5%. Heavy-density Chinese property stocks also lingered, Sunac (1918) fell 5.7%, KWG (1813) fell 4%, and mainland banks were also under pressure, the H-Share Index fell 55 points to 10,523 points. The PBOC plans to introduce additional measures to increase market liquidity, which is the main reason for the decline in mainland banks. ICBC (1398) and CCB (0939) closed down 1%.

The renminbi continues to depreciate against the US dollar. The foreign exchange industry expects that the renminbi is expected to “break the seven” in the short term, that is, it will fall below the level of RMB 7 against the US dollar, mainly because of the competitiveness of China in maintaining Sino-US trade. It is intended to devalue the renminbi in an orderly manner, but it is also possible that the devaluation of the renminbi will make the US trade deficit with China unable to fall sharply. The United States will probably set off a larger trade war at that time.

Negative atmosphere, Hong Kong stocks continued to be low

Yao Yaohui, director of the research department of Yaocai Securities, said that A shares and Hong Kong stocks still have not improved, mainly due to low trading volume. Hong Kong stocks turnover was below 80 billion yuan for 4 consecutive days, reflecting the negative market sentiment, and the market outlook will depend on A shares. Going. He pointed out that investors can pay attention to stocks with good performance, because their resilience is generally stronger. It seems that Xinhua Insurance (1336) issued a profit alert yesterday, and its share price rose more than 4% against the market.

Market focus Xiaomi (1810) shares fell 6.7% yesterday, closing at 20.1 yuan. He said that since the Xiaomi IPO, the stock has been undervalued and has not changed since the stock price rose. Although the Hong Kong Stock Exchange (0388) expressed communication with the Shanghai and Shenzhen Stock Exchanges, it hopes to include Xiaomi as a “Hong Kong Stock Connect" as soon as possible, but he believes that it is only the wishful thinking of the HKEx. Before the “North Water" channel was officially established, the stock believed that there would be only volatility and no increase.

There is a big cut in the target price. Tencent is weak.

There is a big move to lower the target price of Tencent (0700). Furui’s latest forecast for Tencent’s second-hand mobile game revenue is 18.7 billion yuan, which is expected to fall 14% quarter-on-quarter, up 26% year-on-year, and total revenue in the second quarter is 75.3 billion yuan. Yuan Renminbi, lower than the market consensus, non-GAAP net profit of 18.9 billion yuan, up 15% year-on-year, also lower than the market’s average forecast. Therefore, the target price of the bank’s cutting Tencent dropped from 515 yuan to 497 yuan, and the rating remained “buy". Tencent fell 0.6% yesterday to 375.6 yuan, dragging down the market.

The internal insurance is favored. Zhongchang is washed and dumped 43%.

Mobile phone stocks were also under pressure. The soaring G2 (2382), which was smashed by the short-selling organization GMT, was beaten by Moto, but its share price still fell more than 2%, and AAC (2018) fell 1.6%. In the anti-market, there are insurance stocks. Xinhua Insurance has risen due to the profit alert, which has stimulated China Life Insurance (2628) to rise more than 1%, and Ping An Insurance (2318) also rose slightly.

In terms of individual stocks, Zhongchang (0859) suffered a sharp decline in the market, with a 42.6% expansion. Fosun Pharma (2196) allotment, intends to place 68 million H shares at 38.2 yuan per share, a discount of 9.05% to the closing price of 42 yuan on Wednesday, and a net fund raising of 2.758 billion yuan. The news caused the stock to fall 8.2%. The market still fell 7% to 39.05 yuan, dragging Chinese traditional Chinese medicine (0570) also fell 5.5%, and Zhongsheng Pharmaceutical (1177) fell 3.3%.