Local social riots are endless
On weekends, the long-term holidays are everywhere, and the chief executive Lin Zhengyue predicts that all walks of life will enter the winter. Local retail consumer stocks continued to falter yesterday, and many of the products of Youpin 360 (02360) were ruined by mobs in a row, and the stock price plunged nearly 10%. The share price of the rental property (00823) fell more than 2%. Local ginger performed very poorly, but overall Hong Kong stocks performed strongly. US President Trump threatened to win Sino-US trade negotiations or achieve substantial results. The Hang Seng Index rose 359 points yesterday, and the gains narrowed to 72 points at the close.
Social violence has intensified, citizens’ desire for consumption has fallen, and the number of tourists entering the country has been rushing. The Chief Executive revealed that tourists visiting Hong Kong fell by more than 50% in the first six days of October, reversing the traditional “11 Golden Week" consumption effect. In addition, according to the number of immigration offices, inbound passengers fell by more than 30% in the first six days of October, a decrease of nearly 2 million. The Chief Executive is concerned that all walks of life enter the harsh winter. The University of Hong Kong’s latest forecast for Hong Kong’s real economic growth in the third quarter will record a year-on-year decline of 0.1% and zero growth for the whole year.
Regal Langing shares see three years low
The local economy was in recession risk, the retail market was grayed out, and a large amount of funds fled from the local consumption sector. The stocks that were targeted by violence 360 fell sharply by 9.4% to close at 1.82 yuan, and again fell to wear 2 yuan. AEON (00984) shares fell 5.2% to 3.23 yuan. Visitors to Hong Kong have shrunk, and the shares of Regal Industries (01881) and Langham (01270) have fallen to a three-year low. Regal’s share price fell 3.3% to 1.72 yuan; Langham shares fell 2.8% to 2.07 yuan. Shares of watch shareholders (00398), which are sensitive to the number of passengers, fell 6.8% to 1.36 yuan.
The increase in Hong Kong stocks was mainly due to the fact that local real estate and rent-receiving stocks were “legged". In the case of the consortium, the individual shopping malls of the Link Real Estate closed the door and closed the business early. The share price of the Link Exhibition fell 2.4% yesterday to 85.35 yuan. Shares of Fortune Industrial (00778) fell 2.4% to 8.83 yuan. In terms of property development stocks, New World Development (00017) shares fell 2.5% to 10.14 yuan. In addition, the share price of MTR (00066) weakened 0.1% to 43.6 yuan.
US stocks plunged ADR down 252 points in the early session
Despite the hustle and bustle of the local retail consumer sector, the overall Hong Kong stock market is hard. The China-US trade talks were held this week, and Trump said that this consultation has the opportunity to achieve substantive results. The news boosted investor confidence in the market. The Hang Seng Index rose 359 points at most. Unfortunately, it was blocked at the psychological barrier of 26,200 points. The superposition of the mainland A-share index returned from a high level. The index closed at 72 points and closed at 25,893 points. The HSCEI rose 54 points to 10,201. The US stock market index plunged nearly 300 points in the early session, dragging the Hang Seng ADR down about 252 points to 25,540 points.
Looking ahead to the market, Yao Haoran, managing director of Shifu Asset Management, said that Sino-US trade negotiations are the focus of this week’s market, and the results are unknown. Therefore, investors do not want to risk chasing goods at high positions, but they are not in a hurry to pick up goods at low levels. . He expects the Hang Seng Index’s short-term upside resistance to be 26,400 points, 26,500 points, and down support at 25,600 points and 25,700 points. Yao Haoran also said that the Asia-Pacific Economic Cooperation (APEC) will hold a summit in Chile in November, and the market will watch whether the Chinese dollar will meet at the summit.
Li Huifen, vice president of the KBA Group, pointed out that there are differences between China and the United States in the expectations of this negotiation, and the US is about to impose tariffs on Chinese imports of US$250 billion this month. The United States will eventually reduce the tax rate or increase tariffs, and investors should pay attention to developments. Li Huifen said that looking at the recent trend of Hong Kong stocks, the Hang Seng Index has shown a pattern of cows to be changed. It is said that “ten cows are nine light." According to technical analysis, the Hang Seng Index may have to test 25,300 points this week and the upward resistance is 26,200 points.