The number of diagnosed cases of new pneumonia in the country is increasing, but the Hong Kong stock market rose for four consecutive days
The Hang Seng Index followed the index and U.S. stocks soared early in the morning (see chart). It has risen 525 points in the half-day and regained 27,000 points. At noon, China announced that it would lower tariffs on US $ 75 billion in US goods, stimulating the HSI to rise up to 822 points in the afternoon and At 27,608 points, it finally closed at 27,493 points, up 706 points or 2.6%, and the main board turnover was 131.7 billion yuan. Stock markets in the Asia-Pacific region generally rose yesterday, with Japanese and South Korean stocks up 2.4% and 2.9%, and Taiwan stocks also up 1.5%. (Related News Magazine A13)
China cuts US tariffs on U.S. stocks
Affected by the China-US tariff news, the mainland stock market rose steadily on the same day, and the A-share recorded three consecutive gains. The Shanghai Composite Index closed up 1.72% to 2886 points. The Shenzhen Component Index and Shenzhen Stock Exchange rose 2.9% and 3.74%, of which Shenzhen The GEM rose to a more than three-year high and completely recovered the decline after the epidemic worsened at the end of January.
For Hong Kong stocks, blue chip stocks generally rose. China Mobile (0941) closed up 5.4%, making it the largest blue chip gainer. AIA (1299) and HSBC (0005) rose 2.2% and 1.9%. Tencent (0700) closed yesterday at 400 yuan, up 2%; Alibaba (9988) rose 0.8% to close at 217.4 yuan. The Hang Seng Index has already given up at night, reaching 27,203 points at 11:45, a low of 291 points.
Daily necessities snapped up, Vinda hit a new listing high
With the recent shortage of masks in the market and the surge in daily necessities such as paper towels, local essential consumer stocks soared yesterday (see table). Among them, Hong Kong TV (1137), which specializes in online shopping, rose 8.8% to close at 5.2 yuan; Enterprise International Household Retail (1373) rose 7% to close at 2.01 yuan. Tissue manufacturer Vinda International (3331) soared 8% once again, hitting a new high on the market and closing unchanged. In addition, the stocks of Asinwu’s parent companies, CEC International (0759) and Nissin Foods (1475), also rose by 5% and 3%, respectively.
Analysis: If the HSI stabilizes, it will look up to 28000 points
Peng Weixin, head of the research department of Jinghuashan No.1, said that recent market buying has reappeared. Investors are optimistic about the market outlook and are eager to “replenish”. They believe that the news is that the new pneumonia medicines have recently been released, and the market’s anxiety about the epidemic is gradually diminishing. , Will help the HSI in the short term.
He also stated that technically, the Hang Seng Index fell from a January high of 29,174 points, and then fell to a bottom of 26,145 points, with fluctuations of 3029 points. Based on a golden ratio measure of 38.2% rebound, it is estimated that if the Hang Seng Index can stabilize at 27,300 points, it will Looking up to the level of 28,000 points. As for the necessary consumer stocks rising sharply yesterday, he believes that this is purely hype, but is affected by panic. The short-term crazy tide disguised causes the related companies to “advance sales” and will not increase their overall sales. E-commerce and science and technology stocks with less impact from the outbreak, such as Tencent and Meituan Reviews (3690).