Hong Kong stocks plunged 10% in October and are expected to rebound by 1,000 points. Lost 5828 points in half a year.
Hong Kong stocks rose 394 points on the last trading day in October, closing at 24,979 points, the main board turnover was 106.3 billion yuan, of which Tencent (00700) rose nearly 5.9%. However, the HSI still fell 2808 points or 10.1%, which was the biggest single-month point drop since January 2016, and fell for 6 months, the longest decline in 36 years, 6828 points or 68.9 months. %. The analysis believes that Hong Kong stocks will have a chance to start a short-term rebound after the October “share disaster month”, and the market will look forward to 26,000 points.
In addition, the Hang Seng Index closed at 25012 points, up 101 points, and high water 32 points. At 1:30 am, the ADR Hong Kong stock index was at 24,937 points, 42 points lower than the Hong Kong market.
Tencent rose 6% yesterday, car stocks continued to rise
After the Hang Seng Index opened 167 points higher yesterday, it was driven by the steady rise of A-shares. After the afternoon, it was significantly better. It closed at 55 points higher during the auction period and closed at the highest level of the day, but failed to regain 25,000 points. The H-Share Index recovered 10,000 points and closed at 10,138 points, up 139 points (1.4%). The market short-selling ratio was 13.76%, a decrease of 0.86 percentage points from the previous day. “Hong Kong Stock Connect” invested 472 million yuan.
US technology stocks generally made good on Tuesday, and Apple released a new iPad. Hong Kong-listed technology stocks were encouraged. After Tencent opened nearly 2% higher, it rose more and more, with a full-day high of 267 yuan, up 5.87%. Apple’s concept stocks also made good, and Sunny Optical (02382) and Gaowei Electronics (01415) both rose more than 5.8%. Auto stocks continued to rebound. Geely Automobile (00175) pumped 7.6% higher than yesterday’s strongest blue chip; Brilliance Auto (01114) and Great Wall Motor (02333) both rose more than half. Chinese aviation stocks have speculation, Air China (00753) closed up nearly 7%; China Eastern Airlines (00670) and China Southern Airlines (01055) both rose more than 5%.
Looking back in October, only three of the blue-chip stocks were recorded, followed by CITIC (00267), China Overseas (00688) and Bank of Communications (03328), up 0.86%, 0.2% and 0.17% respectively; the worst performers in October 3 The only blue chips were Ruisheng (02018), Haoyu and BOC Hong Kong (02388), which blew 26.63%, 24.7% and 21.24% respectively.
Liang Zhenhui, head of investment strategy at Standard Chartered Hong Kong Wealth Management, said that Hong Kong stocks rose yesterday and had a chance to start a short-term rebound, even as the renminbi approached 7 and the China Manufacturing Purchasing Managers Index (PMI) fell short of expectations. He pointed out that the poor PMI is within the market expectation, as the October data officially reflected the impact of the second round of US tariff measures. As for the short-term calculation of the renminbi, it is necessary to see how the market interprets. If the uncertainty is considered to be declining, the central government will allow the devaluation of the renminbi, which will stabilize the Hong Kong stock market. He believes that the basic factors have not changed, and the rebound of Hong Kong stocks will not be very large, or look up 26,000 points.
MPF year-to-date per capita erosion
Luo Jiacong, chief economic and strategist of Bank of Communications in Hong Kong, is also optimistic about the rebound in the market. Hong Kong stocks have fallen less in November and December. In particular, this year’s friends have earned enough. If the market stabilizes, they may not be re-invested. He believes that the market should have reflected many negative news. The technical market has formed many feet in October. The bottoming trend is very obvious. Not only will there be a chance to regain 25,000 points, but it is more likely to rise to 27,000 points or even 28,000 points before the end of the year.
However, Shang Zhang Morgan Investment Director Zhang Shuzhen pointed out that the market outlook is still difficult to judge, the recent stock market fluctuations are relatively large, and the Sino-US trade war is still unclear. In addition, according to the comprehensive performance index of Junlong MPF (MPF), as of October 24 this year, the MPF return fell by 8.77%, and the per capita loss was 17,822 yuan.