Hang Seng Index fell 327 points Chinese bank stocks into target targets China Merchants Bank H diarrhea nearly 8% Shanghai and Hong Kong heavy pressure
The three listed banks in the Mainland may be sanctioned for refusing to comply with a court summons in violation of the North Korean sanctions order. Investors are worried that the trade war will spread to the mainland financial industry. The Chinese and Hong Kong stock markets fell yesterday. The HSI fell more than 300 points and lost 50. Antenna (28,408 points). Mainland banks have fallen almost across the board. China Merchants Bank (03968) and Bank of Communications (03328), suspected of violating the sanctions investigation order, inserted 7.7% and 3.7% respectively. CMB was the target of arrogance, with a turnover of 4.76 billion yuan, exceeding Tencent (00700). Become the most active share of the day.
The Hang Seng Index opened lower after opening 65 points lower. It fell 446 points in the afternoon and stayed at the 28,000 mark. The decline in the tail section narrowed to 327 points (1.2%), closing at 28185 points. The H-Share Index plunged 210 points (1.9%) to close at 10,742 points. Main board turnover increased to 82.3 billion yuan. At 1:30 in the morning, the Hang Seng Index reported 28107 points, down 49 points, and low water of 79 points. The ADR Hong Kong stock index was 28071, which was 114 points lower than Hong Kong.
Nearly 1,200 shares in the market fell, and the proportion of shares increased was only 31.5%. The United States may impose penalties on the involved banks, and the mainland private equity fund “Zhongjin Guorui” suspected of escaping the money has claimed cooperation with China Merchants Bank, and the mainland banks have become the hardest hit areas.
In addition to the H-shares rushing 7.7% under the big deal, China Merchants Bank’s A-shares (600036.SH) also fell 4.8% to 36.13 yuan, and the turnover surged 6.5 times to 8.75 billion yuan. The net profit of China Merchants Bank A shares was RMB 968 million. As for the Bank of Communications, yesterday, under the dual influence of net factors and sanctions, it became the weakest blue-chip; Shanghai A-share Bank A-share (601328.SH) closed down 3%. Another related issue of Shanghai Pudong Development Bank A shares (600000.SH) fell 3.1% to close at 11.66 yuan.
Penny stocks to wash the warehouse
In addition, a number of penny stocks experienced a plunge-style plunge. Xingya Holdings (08293) plunged more than 96%, ranking first in the decline of Hong Kong stocks, with a total turnover of 310 million yuan. China Baoli Technology (00164), Yongyao Group (08022) and CHI HO DEV (08423) fell between 51% and 67%. International gold prices saw a six-year high, gold mining stocks against the market, Shandong Gold (01787), China Gold International (02099) and Zhaojin Mining (01818) rose about 5% to 6%.
The mainland stock market was also under pressure. The Shanghai Composite Index fell 26 points (0.9%), closing at 2,982 points and losing 3,000 points. The Shenzhen Component Index fell for two consecutive days, closing at 94 points (1%) to 9118 points. The Shanghai and Shenzhen stock exchanges totaled 513.3 billion yuan yesterday.
Beishui net buys 1 billion. 4th day sweeps
Foreign capital reduced its holdings of A shares for two consecutive days. Yesterday, it sold a total of RMB 3.3 billion A shares through Shanghai, Shenzhen and Hong Kong, which was the most in a month. Beishui entered Hong Kong stocks for 4 consecutive trading days. It bought a net gain of 1.03 billion Hong Kong shares yesterday through Hong Kong Stock Connect.
Zhonggang’s fund manager Wen Gangcheng pointed out that the market is likely to enter the market before the “Xite Special Meeting”. The Hang Seng Index is expected to close at 27800 to 28200 this week. He continued that if the market believes that the trade talks will break down, the Hang Seng Index will lose 27,584 points of important support, but believe that US President Trump will not give up the trade talks easily, so the level should be defensive.
For individual penny stocks, Liang Gaowen, the investment manager of Honggao Securities, pointed out that Xingya Holdings may be the trigger point. It does not rule out that the company has shareholders who have been squatted, burned under the chain, and other fines held by shareholders who hold more goods. The stock also fell.
In addition, Morgan Stanley expects that if the Sino-US trade tension continues, there will be more stimulus measures in the Mainland to offset the negative impact. The bank therefore prefers steel and cement stocks, prefer Ma Steel (00323), Conch Cement (00914), Zhaojin Mining and so on.