Hong Kong stocks plunged 694 points in August
Sino-US trade wars have shown signs of deterioration. Hong Kong stocks fell for two consecutive trading days. In addition, the mainland intends to tighten online game supervision, which has dragged Tencent (00700) down more than half a day on Friday. The Hang Seng Index fell 443 points at most, closing at 27,888 points. It fell 275 points (0.98%), evaporated nearly 528 points on two days, and lost 10 antennas and 20 antennas. In summary, in August, it was hit by five major factors [see table]. The Hang Seng Index inserted 694 points (2.43%) and fell for 4 consecutive months, with 2919 points (9.5%).
The Hang Seng Index opened 365 points lower on Friday and lost 28,000 points when it opened the market. It further fell to a full-day low of 27,720 points, down 443 points. Since then, the market’s decline has narrowed and narrowed. It once fell only about 200 points, but the tail market fell again, closing 10 antennas (27,983 points) and 20 antennas (27928 points). The Hang Seng Index closed at 27,613 points, down 152 points and 276 points lower. As of 1:45 am on Saturday, the ADR Hong Kong stock market index was 27,746 points, 142 points lower than the closing price in Hong Kong.
The transaction is worth hundreds of billions of nights, low water 276
The Ministry of Education and other eight departments jointly issued a notice, in which the National Press and Publication Administration threatened to limit the number of new online games, and took measures to limit the time for young people to play online games. Tencent’s share price fell more than 5.4% on Friday, low. 338 yuan, closing at 340 yuan, still fell 4.9%, accounting for 130 points of decline in the Hang Seng Index, the market value of a single day evaporation of nearly 165.7 billion yuan. Other mobile game stocks are also difficult to escape. IGG (00799), NetDragon (00777) and Boya Interactive (00434) fell between 6.7% and 10%. The MSCI quarterly adjustment took effect after the market closed on Friday. The fund-for-the-sales market boosted the market turnover of the whole day by nearly 38% to 108 billion yuan, the highest since August 16.
After the “seven turns over” failed, Hong Kong stocks continued to be weak in August. The market’s original performance of Hong Kong stocks was good. However, some strong sectors such as technology stocks and mobile phone equipment stocks were “out of shape”, while RMB pressure surged, emerging markets. The currency crisis reappeared, and the strength of the US dollar index triggered more funds to flow out of emerging markets. The HSI fell to a new low of 26,871 points in mid-August.
Earlier, the Chinese government repeatedly rescued the city, including restarting the counter-cyclic factor to stabilize the RMB exchange rate. Hong Kong stocks launched a round of rebounds in late August. Unfortunately, there have been many negative news attacks in recent days, including the Sino-US trade negotiations. In the crash, the US President Trump implemented the tariff increase of 200 billion US dollars of Chinese imports in the week. The Hong Kong stocks were unable to recover the lost land and fell for 4 months.
Long and full moon crown blue chip
The best performing blue chip in August was Changhe (00001), which rose 6.04%; the worst was Sunny Optical (02382), which was 23%. If the performance of blue chip stocks in the past 4 months is the worst, Wanzhou International (00288) is the worst, with 27.72% in 4 months. Other blue chips with more than 20% decline include Country Garden (02007), AAC Technologies (02018) and Sunny Optical. Etc. During the period, the best performance was defensive stocks. Both Taikoo (00019) and CLP Holdings (00002) rose more than 13%.
The H-Share Index closed at 10,875 points on Friday, down 92 points (0.84%), and fell 149 points (1.35%) in August. The H-Share Index also fell for 4 months, a total of 1455 points (11.8%). During the period, the decline in the constituent stocks of the H-Share Index was Great Wall Motor (02333), which was 41.31%, followed by China Huarong (02799). It also recorded a 40% decline; the best performance was Shenzhou International (02313), and “anti-market” rose by nearly 20%.
Wang Rongkun, assistant director of investment management in South China, said that whether the United States will impose tariffs on 200 billion US dollars of Chinese imports during the week is difficult to predict. Although the recent stabilization of the renminbi has driven the rebound of Hong Kong stocks, the international political environment has not changed. The upswing will soon be unsustainable, and in September, it will face the trouble of raising interest rates in the United States, and it will not rule out the emergence of a new “crossing of death.” Li Shengyang, market strategist at DBS Vickers in China and Hong Kong, expects the market to trade in a narrow range between 27,000 and 28,000.