Recently, China-US trade talks have repeatedly reported unfavorable news, but it is reported that China will invite the US to hold a new round of face-to-face trade consultations next week
The market is watching the progress of bilateral trade talks, boosting Hong Kong stocks to outperform A-shares, and stabilizing after two days of decline. The Hang Seng Index closed at 26,595, rebounded 128 points, and 268 points higher throughout the week; the H-Share Index closed 55 points higher at 10,506, and the market turnover was 67.2 billion yuan.
The city passed the US party or postponed the original tariff on December 15 and imposed new tariffs on Chinese goods. However, the mainland stock market continued to be soft, with the Shanghai index falling below 2,900. The Shanghai Composite Index fell for three consecutive days, closing at 2885, down 0.63%; the Shenzhen Index closed at 9626, down 1.51%; the two cities totaled 471 billion yuan.
The performance of the US group (3690) was better than the market expectation, and it was well-received by many big banks
It pushed up the stock price and broke the top. It was 12.62% high and saw 103.5 yuan, but the market failed to hold the “red bottom” mark. Pumping up 6.69% to build 98.05 yuan, turnover of 7.497 billion yuan, accounting for more than 11% of Hong Kong stocks turnover, the top of the transaction, its trading amount more than double the number of shares of the king Tencent (700).
Blue chips have developed individually. Tencent rose 1.28% to close at 333.6 yuan; AIA (1299) rose 0.78% to close at 77.3 yuan; CCB (939) rose 0.96% to close at 6.33 yuan; the above three heavyweights supported the market’s uptrend. Wanzhou (288) rose 1.86% to close at 8.2 yuan, the largest increase in blue chips. In contrast, Want Want (151) fell 1.37% to close at 6.47 yuan, the biggest blue-chip decline.
Implement centralized procurement, pharmaceutical stocks
The press conference on the procurement of concentrated medicines in Hunan Province held in Changsha revealed that Hunan Province will fully implement the centralized procurement of national medicines and take the lead in the procurement of antibiotics in the country. The pharmaceutical stocks Zhongsheng Pharmaceutical (1177) fell 0.53% to close at 11.26 yuan; Kang Zhe (867) fell 1.34% to close at 11.74 yuan; Fosun Pharma (2196) fell 1.52% to close at 22.75 yuan. Shijiao (1093) rose 0.1% to close at 20 yuan; Yaoming Biological (2269) rose 2.29% to close at 91.45 yuan; Baekje Shenzhou (6160) rose 2.49% to close at 123.4 yuan. (see table for details)
Chen Weicong, director of research department of Youxin Securities, said that the Hang Seng Index fell more than 600 points on Wednesday and only rose by about 100 points on Friday. This shows that the market rebound is insufficient, investors have insufficient confidence in the market, and the transaction is weak. There was no positive news in the trade consultation. I believe that the market’s cautious attitude continues. It is expected that the Hang Seng Index will rise and fall in the short-term between 26,200 and 26,800. Once it falls below the support level of 26,200, the market conditions and investment climate will soon turn.