The market waited for the Sino-US trade negotiations and the Fed’s interest rate decision
The Hang Seng Index retreated yesterday after it soared, dropping 104 points to close at 26,786, with a turnover of 78.813 billion yuan. Some editorial committees pointed out that the third-quarter performance period of state-owned enterprises ended on Thursday. Due to the fact that the mainland banks that sent the transcripts had handed in their homework, the last sprints of CCB (939), Bank of China (3988) and China Merchants Bank (3968) should also Have a good performance, may wish to pay attention.
The editorial board also said that due to the slowdown in global economic growth, many companies’ earnings were affected, and the third-quarter results may bring “shock", so it is difficult to make profit by performance
For example, the heavyweight HSBC Holdings (005) announced its quarterly results on Monday. The third quarter earnings were less than expected, dragging the stock price down to below 60 yuan. It closed at 59.45 yuan yesterday, down 1.33%.
Bank of America Merrill Lynch issued a report that HSBC’s third quarter was excluded from the more volatile and one-time items, recording revenue of $13.7 billion, slightly lower than market expectations of $13.8 billion, and lowering its target price from $67.21 to 65.32. Yuan, reiterated the “neutral" rating.
Blockchain development benefits the technology sector
Some editors suggested paying attention to the technology sector, because President Xi Jinping recently proposed to increase the development of blockchain, and all departments should actively cooperate to stimulate the blockchain concept stocks to soar. Tongcheng Holdings (1611) has more than two on Monday. Cheng; Xiong’an Technology (1647) rose nearly 19%; Zhongan Online (6060) also rose nearly 9%.
Another editorial committee pointed out that the development of blockchain requires long-term planning, coupled with short-term over-representation, it should only be short-lived. Blockchain concept stocks retreated yesterday, Tongcheng closed at 4.17 yuan, down 11.28%; Xiong’an Technology closed at 0.495 yuan, down 2.94%; Zhongan Online closed at 27.5 yuan, down 2.65%.
The editorial board also said that the US group (3690) and Xiaomi (1810), which have different rights in the same stock, have been included in the “Hong Kong Stock Connect" this week. I believe that the short-term can attract the pursuit of Beishui, which is worthy of more than two eyes. However, the two stocks softened yesterday, the US group closed at 92 yuan, down 1.81%; Xiaomi fell 3.59%, closing at 8.86 yuan.
Citigroup published a research report indicating that after Xiaomi was announced by the Shenzhen Stock Exchange to be included in the Southbound trading, it is expected to attract “North Water” to accelerate the inflow. It is expected that Xiaomi will be re-evaluated by the market valuation and have a positive view on Xiaomi, reiterating the “Buy” rating. The target price is 13 yuan.
Another editorial board suggested that the company should benefit from the national policy, such as the recent rise in pharmaceutical and property management stocks. Although the valuation is high, the profit growth is high, and it is expected to support higher valuations. space.
In addition, the auto sector is also worth paying attention to, as the market believes that the worst situation should have passed, and the car sales figures are picking up. Among them, Changchun Automobile (2333)’s net profit in the third quarter increased by more than 5 times. It was favored by many big banks. Changchun’s share price soared nearly 14% on Monday, and rose 3.53% yesterday to close at 6.45 yuan. Geely (175) also won a big bank. Singing well, the stock soared 3.5% on Monday, and closed at 14.92 yuan yesterday, up 1.63%.