Hong Kong stocks traded quietly, only 69.7 billion
The G20 summit will be held in the market. Yesterday, the market showed a cowhide. After the Hang Seng Index opened 73 points lower, it once rose 160 points. However, it once again softened and finally closed at 28,513 points, up 39 points or 0.14. %. Hong Kong stocks traded in a narrow range, with a daily volatility of 276 points. The transaction was also quiet, with a turnover of only 69.7 billion yuan. The H-Share Index closed at 10,952 points, up 31 points or 0.29%.
Real estate stocks outperformed the market
The market is expected to heat up interest rate cuts. Many local property stocks outperformed the market. Hang Lung Properties (101) was the best performing blue chip stock, up 2.9% to 18.5 yuan; Henderson Land (012) rose 2.84% to close at 43.45 yuan. Wharf Property (1997) and SHKP (016) also rose 1.09% and 1.13% respectively. In addition, AIA (1299) edged up 0.18% to close at 82.85 yuan, rising to a high of more than a month. It has risen for 6 trading days and has risen 12.26%. MTR (066) closed at 51.85 yuan, up 0.88%, and has risen for 8 trading days, up 6.8%.
Anta (2020) rose 4.6% yesterday to close at 54.35 yuan. Morgan Stanley issued a report citing Anta Sports’ management that the company’s sales in the second quarter of 2019 were stable and in line with the target. The bank maintained an investment rating of Anta’s “overweight” and a target price of RMB 60.
Mainland property stocks performed well. Bank of America Merrill Lynch upgraded China Resources Land (1109) target price by 5.4% to 39 yuan. The stock rose 2.36% yesterday to close at 34.75 yuan, while Country Garden (2007) rose 1.36%.
Guo Jiayao, vice president of Zhengrong Financial Business Department, said that the Hang Seng Index has accumulated a certain increase. It is expected that there will be a large chance of a slight retreat at the beginning of this week, but it will not fall sharply. The temporary low is at 28,000. As for whether the technology stocks can be relaxed by the United States due to good progress in the trade war, it is still unknown, but he believes that leading companies can buy.