Hong Kong stocks continued to perform for the second consecutive day
Technology and mainland consumer stocks performed well, but the transaction remained weak, causing the market to retreat significantly after rising nearly 300 points. The result was only 57 points per day, at 28,524. point. The transaction was less than 70 billion yuan for 7 consecutive days, only 68.8 billion yuan, while GEM’s trading volume was less than 100 million yuan. Market participants are worried that trading will remain quiet for a long time, or a harbinger of a big drop in the market. Huawei is expected to be re-supplied by the United States. 5G and mobile phone stocks have performed well. The big banks have shunned rent and retail stocks, and the relevant stocks generally fell.
Low turnover, unilateral breakthrough harbinger
Kuang Minbin, executive director of KGI and head of research department, said that there is no clear direction in the market. It is expected that the HSI will only go up and down between 28,000 and 29,000. However, he reminded that the long-term low turnover in the market is likely to be a harbinger of unilateral breakthroughs, that is, the stock market will rise or fall at any time, and the magnitude will be quite large. Judging from the current market conditions, the chances of a major market decline seem to be greater.
Min Minbin explained that in fact, individual stocks have been speculatively high in recent days, and there have been pressures for profit taking. In addition, the recent turnover is low, reflecting that there is not much new capital inflows, and investors are not active in entering the market. He expects that once there is a major positive or bad news, it will trigger a unilateral trend in the stock market. Since the US interest rate cuts have been digested by the market, the stock market has a greater chance of falling on the macro or news side.
Tencent Huiyong 5G and mobile phone stocks bright
Tencent (0700) rose nearly 2% to see a two-month high, supporting the market. The US Commerce Department said it will soon decide on 35 US companies to apply for about 50 exemptions for Huawei sanctions. Huawei is expected to be re-supplied by the US, with 5G and mobile phone stocks outperforming. Haoyu (2382) rose 3.5% and Qiu Ti (1478) rose 1.7%.ASM (0522) business recovered and its share price rose nearly 6%. 5G shares ZTE (0763) also rose 2.4%, and Jingxin (2342) surged 11.8%.
Car stocks are hitting 10 consecutive rises and then breaking the top
Domestic demand stocks were strong, Anta (2020) rose 3.3%, and rose for 10 days. The stock price hit a new high, breaking 60 yuan for the first time; Dongfeng (0489) rose 4%, becoming the best performing national indicator; Geely (0175) and Guangzhou Automobile ( 2238) also rose 3.3%. The big banks have successively sang the rent-collecting shares and retail stocks in Hong Kong, and the relevant stocks generally fell against the market.
The general public is convinced that the recent social events in Hong Kong have made investors wary of the law and order and safety of Hong Kong. This will ultimately jeopardize property prices and property values. Among the property stocks, including the shopping malls in Sha Tin and Yuen Long, are owned by SHKP (0016), which has hampered the business environment of merchants. Therefore, investors are now inclined to evade the relevant shares. Xindi fell 0.8% yesterday, Wharf Real Estate (1997) fell 0.7%, and Link (0823) also fell 0.4%.