Instructed to severely hit the economy, the US big crocodile: Hong Kong’s liquidity is drying up

The political situation in Hong Kong has not been steadily provoked to panic

In recent months, Kyle Bass, the US financial tycoon who has sang Hong Kong and Hong Kong, has repeatedly sneaked on the chaos in Hong Kong and directly pointed out that the activities have seriously hit the economy. Hong Kong’s liquidity is “drying up". In the next one to one and a half years, there will be a large withdrawal of funds. It is reiterated that the linked exchange rate has been bet, and it is expected to continue to short-sell foreign exchange. However, Hong Kong stocks continued to stabilize 26,000 yesterday. The Hang Seng Index plunged nearly 500 points in the US stock market overnight. It still closed at 67 points or 0.3% yesterday, at 26,110 points.

According to foreign reports, the founder of hedge fund Hayman Capital Management, who attended a forum in Amsterdam, the Netherlands, said that Hong Kong’s anti-government demonstrations have caused a serious economic downturn. He has bet that the Hong Kong dollar exchange rate will be broken, saying that Hong Kong’s liquidity is " Drained, foreign exchange reserves will deteriorate in September and October, and a large amount of funds will flow away in the next 12 to 18 months. The economic outlook is “a big question mark."

Bass has hedge funds that invest in Hong Kong. According to reports, a number of traders, including Bath, have bet that the conflict in Hong Kong has led to a major withdrawal of funds and an increase in interest rates, and it is expected that the authorities will change the implementation of the linked system for more than 30 years.

In addition, Bath mentioned that when Chinese companies raise funds in the United States, they should face big surveillance, and he personally will never invest in Chinese technology giants.

Bass has always been a big friend of Hong Kong. Since the beginning of the year, it has repeatedly appealed to investors on the social networking site to short-sell the Hong Kong dollar and transfer to the US dollar. In April this year, it sent a letter to investors, pointing out that Hong Kong’s foreign exchange reserves are difficult to support the joint exchange. The edge of the collapse. However, the HKMA and the latter opened his mouth and he misunderstood the operation of the Link. It is worth noting that Bass has continued to sing and short-sell the renminbi since 2015. Although he was once a big loser, he still held short positions for 4 years. Only after the outbreak of Sino-US trade broke out in recent months, he took the opportunity to close the position. The market is most optimistic. Only closed.

Big market tail market rises

In the big market, the Hang Seng Index fell 233 points yesterday and closed at the end of the session. The low level rebounded 383 points. The China Enterprises Index also surged at the end of the day, closing at 10,220 points, up 38 points or 0.4%, the market turnover of the market. Continued downturn at 62.6 billion yuan, the short-selling rate of 15.6%. HSBC Holdings (005) fell 1.3% or 0.8 yuan yesterday, to 58.85 yuan, the worst performing blue-chip; contrary to the continued success of pharmaceutical stocks, Shijiazhuang Group (1093) rose 3.3% yesterday to 16.16 yuan, the most blue-chip performance Jia, China Biopharmaceutical (1177) also rose 1.2% to 10.18 yuan; the MTR (066) also rebounded 2.3% to 44.5 yuan.

Sporting goods and property management stocks continued to be strong. Credit Suisse upgraded Anta Sports (2020) investment rating to “Outperform”, Anta 3.4%, Li Ning (2331) up 4.5%; Aoyuan Health (3662) and Ya Life (3319) was 6.4% higher and 5.4% higher respectively.

Real estate rent-taking shares were weaker. Morgan Stanley estimated that Hysan Development (014) would lose 80% of its peers in the next 30 days, Hysan fell 2.1%, and Wheelock (020) fell 1.9%. Real estate (1972) also fell 0.6%.

Micro-Mart intends to buy back the stock price

Micro-Minister Group (2013) announced that it intends to repurchase shares with a maximum total price of 100 million yuan, stimulating the stock price to rise sharply. Yesterday, it exceeded 10%, and the high was 3.96 yuan; the market closed at 3.93 yuan, up 9.5%, with a turnover of 71.36 million yuan. .

Tencent invests in Indian e-commerce startups

Tencent Holdings (700) continued to invest in start-ups. Udaan, a startup in Bangalore, India, and Indian commercial e-commerce, received $585 million (approximately HK$4.66 billion) in capital injections, including Tencent, Altimeter Capital, Jiyuan Capital and Citi Ventures. Udaan has received $870 million in capital injection since its inception in 2016.


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