Sino-US trade talks have been shadowed again
There have been fierce clashes in many districts yesterday. The rumors have spread, dragging Hong Kong stocks down for the second consecutive trading day, 920 points; the Hang Seng plunged 820 points yesterday and closed 724 points (2.6 %), fell through 27,000 and 250 antennas in one fell swoop, reported 26,926 points, see the low since the end of last month. The HSI Volatility Index (VHSI), which is known as the Hong Kong stock panic index, surged 21.1%. The proportion of shares fell by 82%. Hong Kong property and rent-collecting stocks were scattered. Among them, Taikoo (00019) fell 5.2%, and blue-chip stocks only Shijiazhuang (01093) stabilized against the market. The analysis believes that due to internal and external factors, the HSI will test 26600 points to 26800 points today.
US President Trump has indicated that he has not agreed to withdraw the tariff imposed on China and to add a variable to the trade agreement in the near future. At the same time, the situation in Hong Kong deteriorated. Some netizens launched a roadblock yesterday. Police officers opened three live ammunition during the dispersal of demonstrators in the Sai Wan River at about 7 am, hitting a man and the atmosphere became tense. The Hang Seng Index opened nearly 300 points lower, and it lost 250 antennas (27423 points) when it opened the market. After that, the decline widened. In the morning, it lost 648 points at most, see 27002 points, and still can hold the 27,000 level.
Local property stocks become the hardest hit
In the afternoon, demonstrators gathered in the downtown area of the city. The police had to cast a number of tear gas bombs to drive away. On the Internet, the Hong Kong government will cite the “Emergency Law” to announce the suspension, suspension and suspension of school. The Hang Seng Index plunged in the afternoon and blew 820 points, low at 26830. Point, the market still fell more than 700 points, reported 26,926 points, following the 250 antennas, 10 antennas (27,280 points) and 20 antennas (26,998 points) fell together; the H-Share Index fell 268 points (2.47%), closing at 10,613 points; The turnover of the city increased slightly to 86.5 billion yuan.
At 1:30 in the morning, the Hang Seng Index reported 27180 points, up 186 points and 253 points above the water. The ADR Hong Kong stock index was 27,108 points, 182 points higher than Hong Kong.
Beishui was fearful of falling, and “Hong Kong Stock Connect” recorded a net purchase for 12 consecutive days. The amount yesterday increased to 1.493 billion yuan; Shanghai and Shenzhen Stock Connect continued to have foreign capital inflows on the 13th, and yesterday recorded a net sweep of 670 million yuan.
Local property stocks became the hardest hit, with Wharf Real Estate (01997), SHKP (00016) and New World (00017) falling more than 4%; local banks and Chinese banks generally fell 2% to 3%; the market short-selling ratio was 17.3 %, up 4 percentage points from last Friday.
Hang Seng Index short-term or test 26600
The HSI volatility index (measured by the HSI forecast volatility rate for the next 30 days) surged 21.1%, and the high was 18.31, reflecting the increase in market panic. Looking up the data, according to the recent five VHSI surges about 20%, four of the HSI opened lower the next day.
Li Yao, fund manager and chief investment strategist of Lida, said that Hong Kong stocks were hit by three major factors, including variables in Sino-US trade negotiations, rising CPI in the Mainland and local social events. The HSI may test the range of 26600 points to 26800 points. Difficulties in real estate stocks, especially the collection of shares.
The Hang Seng Index once inserted more than 800 points, resulting in a recovery price of 26,900 points to 26,999 points in the heavy goods area of the HSI Bulls, and a total of 27,100 points of cattle certificates, equivalent to 2,226 hedge futures. Huang Jien, executive director of the Farba-listed Derivatives Division, revealed that the Hang Seng Index opened hundreds of points lower and reminded investors of the dumping of goods in disguise. Therefore, there were not many street goods actually targeted. Yesterday, a small amount of funds poured into the HSI Bullet Card with lower recovery price. , Bo today HSI rebounded.
In addition, the Morgan Stanley report pointed out that the current price of the Hong Kong Stock Exchange (00388) is equivalent to 31 times the 2020 P/E ratio, and the valuation is attractive. Due to the recent rebound in Hong Kong stock trading, the northbound Shanghai-Shenzhen-Hong Kong Stock Connect remains strong. It is expected that these factors will support Hong Kong’s Made well, I believe that the stock price will rise by more than 80% in the next 60 days, giving an overweight rating with a target price of 280 yuan. The Hong Kong Stock Exchange closed at 246.2 yuan yesterday, down 3%.
The Shanghai and Shenzhen stock markets both fell yesterday. The Shanghai Composite Index closed at 2,909 points, down 54 points. The Shenzhen Composite Index reported 98,000 points, down 214 points. The two cities’ transactions shrank to 423 billion yuan.