Although global stock markets generally rose year-to-date, the US stock market Dow gained nearly 20%, but a survey by UBS Wealth Management showed that 55% of the wealthy investors who received more than 3,400 investors with a minimum investment of $1 million were expected to visit
Before the end of next year, there will be a “big city” in the global stock market, so they have made preparations. The average cash level of their assets will reach 25%, and the future will further increase their cash holdings.
the US economy will have a slowdown in the second half to two years next year
UBS Wealth Management survey pointed out that nearly four-fifths of respondents believe that global stock market volatility will increase in the future, 60% of respondents said they will consider increasing cash levels, and 62% plan to further diversify assets. Respondents generally believe that the Sino-US trade war is the biggest geopolitical worries, and next year’s US presidential election is another major threat.
Dahe material, Hong Kong stocks significantly adjusted
Paula Polito, head of the Bank’s Customer Strategy Office, bluntly said that the rapid changes in geopolitics are the biggest concern for global investors. The impact of global interlinkages and geopolitical changes on portfolios goes beyond the basics of traditional companies.
Coincidentally, Japanese brokerage firms are bullish on the prospects of China and Hong Kong stock markets. Paul Kitney, chief equity strategist at the bank’s Asian equity research department, said that the impact of the US tax cuts to stimulate the economy has diminished, and the impact on the global financial market will become more apparent. The US economy will be more urgent in the second half to next year. Slow down.
Sino-US Nanda Comprehensive Trade Agreement
In addition, China needs to reform its financial system and cannot mobilize its waters to stimulate the economy. Therefore, it is expected that China and Hong Kong stocks will have deeper adjustments in the next 12 months. Among them, Hong Kong stocks will fall more than global stocks. Daiwa is currently giving stocks in China and Hong Kong. The investment ratings are all “underweight”.
Chen Bingqiang, chief investment director of Yucheng Asset Management, said that even if China and the United States can sign a partial trade agreement, it is difficult to reach a comprehensive agreement. At present, the global economy has begun to slow down and the trend is difficult to reverse. Even if the central bank actively “releases water,” the power and space are not as good as before, and the uncertainty of the US presidential election may put pressure on the high valuation of US stocks.
He added that the conflict in Hong Kong continued to deteriorate and many wealthy and middle-class people wanted to move their funds overseas. Although the existing foreign investment in Hong Kong is on the sidelines, it does not rule out that the future will slowly flow away. In addition, the Hong Kong economy has entered a technological recession. In the future, corporate earnings forecasts may continue to be lowered, putting pressure on the Hong Kong stock market and the property market.
HSI oversteps 27,000
After Hong Kong stocks plunged more than 700 points on Monday, the performance on Tuesday was repeated. After the Hang Seng Index opened 137 points higher, it once fell 131 points. It once again turned upwards in the afternoon. It once rose 150 points and closed at 138 points, at 27,065 points. The China Enterprises Index closed up 77 points to 10,691 points, and the total turnover of Hong Kong stocks was 69.2 billion yuan.
Yesterday, the short-selling volume of Hong Kong stocks was 10.579 billion yuan, and the short-selling ratio was 15.3%. Hong Kong Stock Connect (Shanghai) net sales of about 390 million yuan, Hong Kong stocks through (deep) net purchase of 164 million yuan.
Hong Kong stocks American Depositary Receipts (ADR) developed separately in early trading on Tuesday, HSBC Holdings (00005) reported 59.15 yuan, 0.1 yuan higher than Hong Kong; Tencent Holdings (00700) reported 326.25 yuan, 3.95 yuan lower, proportional to the Hang Seng Index fell 22 point.