Trade talks agreement digested early

China and the United States have initially reached the first phase of the agreement

US investors responded mildly to the agreement last Friday. The Dow just rose slightly. It should be that the recent rise has reflected the good news. Yesterday, the Hang Seng Index opened 157 points lower and once rose 28 points. However, a large number of selling at the high level caused the market to fall. The Hang Seng Index closed at 27508 points, down 179 points. The H-Share Index closed at 10778 points, down 59 points, and the market turnover was 79.8 billion yuan.

According to the first-phase agreement reached between China and the United States

the United States will continue to suspend tariffs on US $ 165 billion of Chinese goods on December 15 and reduce its US $ 120 billion of Chinese goods’ tariffs from 15% to 7.5%, but maintain 250 billion 25% tariffs are imposed on Chinese goods in US dollars. For investors, this agreement is a low-level acceptable agreement, because it only includes non-expanding tariffs and reduction of some tariffs. Therefore, investors did not dare to buy or sell. Obviously back down.

Yesterday, China released important data. In November, China ’s value added industries above the designated size increased by 6.2% year-on-year, and the previous value was 4.7%. In November, total retail sales of consumer goods increased by 8% year-on-year, and the previous value was 7.2%. These data show that China’s economic momentum has strengthened, and China’s GDP should reach a growth of 6.20% or more this year. Among them, cosmetics and communications equipment increased significantly by 16.80% and 12.1%, respectively. The growth rates were faster than the total retail sales of all social consumer goods by 8.8% and 4.1%, in part due to the return of mainland tourists who originally intended to spend in Hong Kong.

Yesterday, Changjiang Infrastructure Group (01038) and Power Industry (00006) rose by 2.50% and 1.87%, respectively, mainly due to the political situation becoming stable after the British election

Sunny Optical Technology (02382) and AAC Technologies (02018) increased by 2.38% and 1.36%, respectively, mainly due to the easing of Sino-US relations and the surge in China’s communications equipment sales in November.

Yesterday was the first trading day after China and the United States announced that the first phase of the agreement was reached. The overall performance of the market was somewhat disappointing. The entire HSI did not try to rise sharply and the transaction amount was average. Some friends may have the idea of ​​selling at high prices. Therefore, it is estimated that the HSI will have greater resistance at 28000 points and the H-Share Index at 11,000 in the short term.


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