Yesterday, Hong Kong stocks continued to do well for the second day in a row
After the market opened 144 points higher, the early session rose to nearly 300 points. However, the high position lacked acceptance. The Hang Seng Index closed 184 points higher at 26848. Point, the market turnover decreased by 12% to 72.1 billion yuan. The mainland will announce a number of important economic data today, which is expected to go to the market.
Hong Kong stocks continued their upward trend. They opened 144 points higher yesterday morning at 26809 points. Since then, the increase has narrowed. However, driven by local property stocks and banking stocks, the increase has risen to a maximum of 292 points, and the high is seen at 26,956 points, approaching the 27,000 mark.
The big bank generally believes that the policy address is beneficial to real estate stocks. The New World (017) rose nearly 4%, making it the best blue-chip for consecutive days. However, the rent-receiving stocks went down against the market. Hang Lung Properties (101) closed at a low all-day low and was also the worst performing blue chip. The property agent Meilian Group (1200) continued its upward trend and closed up by 20%. It closed at a high level all day and also hit a new four-month high.
The central government will announce a number of important economic data in the Mainland today, including the third quarter GDP, the September industrial production index and the retail sales index, which are expected to influence the market’s confidence in the market outlook, which in turn will affect the performance of the mainland and Hong Kong stock markets.
The market expects that due to continued trade wars, GDP performance in the third quarter is weak, with annual growth rate slightly down to 6.1%; industrial production index is expected to increase by 0.6 percentage points to 5%; retail sales index increased by 0.3 percentage points to 7.8%. If the GDP data in the Mainland is unsatisfactory, the Hong Kong stocks will support 26,500 points.
Policy Address Relaxed by Poly Real Estate Stocks
Independent stock evaluator Li Weijie said that whether the Sino-US trade talks can be signed into an agreement is worthy of attention, but the market sentiment is temporarily biased, so the temporary Hong Kong stocks have the opportunity to challenge 100 antennas and 27,000 points.
Credit Suisse published a research report saying that the policy of increasing the supply of land and buildings in the policy address issued by the Chief Executive, Mrs Lam, was in anticipation. However, it is a surprise for the mortgage insurance company to relax the insurance policy. The current price of Hong Kong property developers is higher than that of assets. The net value discount is about 56%, which is a greater discount than the average of 42% since 2010. Although the uncertainties still exist, it is estimated that the market sentiment will improve and the rigid demand will support the real estate developer’s stock price and preferred stock. It is Henderson Land (012) and New World Development (017) with a rating of “Outperform”.
For the first time since 2010, the Hong Kong Government has relaxed the property price policy for the first time. The maximum price limit for the first home buyers can be raised from $4 million to $8 million. The maximum price limit for applying for a maximum of 80% mortgage loans is $ It will be raised from 6 million yuan to 10 million yuan, and Credit Suisse is expected to release the demand of users.
Retail stocks generally rebounded
In addition, the policy address also proposes to implement a series of measures to support SMEs and the public as soon as possible and to introduce more measures to continue to support the development of the four traditional pillar industries in Hong Kong. Local retail stocks generally rebounded. Luk Fook (590) rose 4% to close at 20.35 yuan; Chow Tai Fook (1929) rose 3.95% to close at 6.58 yuan; Chow Sang Sang (116) rose 2% to close at 8.52 yuan; Salsa (178) rose 2.92%. Received 1.76 yuan.
For the inner housing sector, the China-British report reported that the sector has shown signs of improvement in the margins of the mood and the valuation of the repairs. Under the framework of the city policy, some urban policies may show signs of relaxation. It is recommended that investors actively increase the housing stocks. Configuration.