In the last quarter, the Hang Seng Index was over 2,400 points
With the support of the Mainland’s 11th National Day holiday and the lack of support from the North, the Hong Kong stocks entered the traditional “stock disaster in October”. The first day was stable and the 26,000 mark was recovered. Hang Seng Index opened 190 points and then rushed to 314 points, low 25778, a new low since the 4th of last month, followed by a sharp increase in buying, regaining the 26,000 mark, and finally harvested 26,04 points, down 49 points; It closed at 10182, down 18 points, and the turnover shrank to 61.945 billion yuan.
Blue chip stocks developed individually. Tencent (700), which plans to buy a 29% stake in Norwegian game developers, fell 1.57% to close at 325 yuan; HSBC (005) fell 1.24% to close at 59.65 yuan; HKEx (388) fell 0.7% to close 228.4 yuan. MTR (066) closed up to 47 stations on Tuesday, equivalent to half of all 94 MTR stations. The stock price weakened and closed down 1.14% to 43.5 yuan.
Domestic demand stocks are good, Budweiser continues to strengthen
Domestic demand stocks were better against the market. Budweiser Asia Pacific (1876), which was included in the Hang Seng Composite Index, continued to strengthen on the second day after listing. It hit a new high, with a high of 29.8 yuan, a high of 5.32% and a return of 29.7 yuan, and a turnover of 2.866 billion yuan. The transaction was second only to Tencent at the top of the list; Meituan (3690) also broke the top, with a high of 82 yuan, up 1.75% to 81.5 yuan. In addition; Zhou Black Duck (1458) rose 7.28% to close at 3.83 yuan. In terms of apparel stocks, Qian Baidu (1028) surged 16.36% to close at 0.32 yuan; Daphne (210) rebounded 6.22% to close at 0.205 yuan.
On October 1st, many large shopping malls in Hong Kong were closed on National Day
The shopping mall property located at Hong Kong Island, Hysan (014) did not rise and fall, closing at 31.6 yuan; the affected shopping malls (823) rose 0.52% to close at 86.9 yuan; Taikoo Property (1972) rose 2.24% to close at 25.15 yuan; Henderson Land (012) rose 1.64% to close at 37.1 yuan; New World Development (017) rose 2.75% to close at 10.46 yuan, the best performing blue chip.
Fulong Securities Co-Director Tan Langwei said that in October, the market waited for the Sino-US economic and trade talks to be held next week. It is expected that this round of negotiations may not achieve significant results. However, progress on both sides is better than nothing. On the other hand, US President Trump earlier announced that he would postpone the tariff rate on Chinese goods until October 15. The closer the day, the relationship between the two countries may be affected, and the market conditions will be more volatile. Once the HSI 26,000 has failed to hold, it may fall back to the low level at the end of October last year.