Hang Seng Index started weak in June, 6.7 billion North Water net buy
Hong Kong stocks rebounded weakly in June. The Hang Seng Index opened 8 points higher yesterday. It was slightly stimulated by the mainland’s Caixin manufacturing PMI in May. The early gains were widened to 67 points, but the strength was not maintained, and it fell by 165 points. Low to see 26,735 points, set to a new low since January 17. In the afternoon, the decline narrowed. The Hang Seng Index closed at 26,893 points, down slightly by 7 points (less than 0.1%). It was under pressure for 4 consecutive trading days and fell 497 points. The H-Share Index rose 43 points (0.4%) to close at 10,430 points. The turnover of the main board was 82.7 billion yuan.
The market fell in a comprehensive trend, and there were thousands of shares falling yesterday. The short-selling ratio continued to be high, and the short-selling of the main board accounted for more than 16% of the trading volume for three consecutive trading days. The Hang Seng Index closed at 26,809 points, up 98 points and 85 points lower. At 1:30 am, the ADR Hong Kong stock index was at 26,995, 101 points higher than Hong Kong.
The Shanghai Composite Index and the Shenzhen Component Index continued to fall yesterday. The Shanghai Composite Index opened 3 points higher and regained 2,900 points and then fell back. It closed down 8 points and closed at 2890 points. The 2900 was closed and lost. Shen Cheng pointed to 65 points (0.7%) and closed at 8856 points. The two cities traded about 479.2 billion yuan, up nearly 10% from last Friday.
Foreign capital yesterday bought a net of 4.41 billion yuan of A shares through “Shanghai-Hong Kong Stock Connect” and “Shenzhen-Hong Kong Stock Connect”, reversing the momentum of net sales for three consecutive trading days. Beishui bought a net of 670 million Hong Kong shares through the “Hong Kong Stock Connect” and recorded a net absorption for seven consecutive trading days.
Passing tight financing
The mainland media quoted the news that the regulators will tighten the open market financing of some housing companies, triggering a decline in many mainland property stocks, and Xuhui (00884) and Zhangzhou Real Estate (01628), which were suspended from issuing bonds, fell 3.6% and 2 respectively. %, Agile (03383) fell 3.1%.
Another Xinhua News Agency reported that the Ministry of Industry and Information Technology will issue 5G commercial licenses in the near future, 5G concept stocks will rise against the market, Jingxin Communications (02342) and Zhongxing (00763) will increase 10% and 8.2% respectively, and Tower (00788) will account for 4%, China Telecom (00728) rose 3.3%, China Mobile (00941) rose nearly 3%, Tencent (00700) bombed 2.3%, the latter two contributed a nearly 100 points for the HSI.
26,500 is expected to have support
Huang Zhiyang, director of Anshan Capital Asset Management, estimates that the market is stabilizing in the short-term around 26,500 points, but it is hard to say. He believes that China will continue to accelerate the development of 5G under the trade war, but it is necessary to be wary of the entry of parts of some 5G-related stocks, which may be blocked by the trade war; the medium-sized service (00552) and the iron tower are relatively stable in the sector, because the former The business is dominated by solutions, while the latter is oriented to the mainland market.