Trade wars are good for desalination

The International Monetary Fund (IMF) lowered the forecast of economic growth in Asia and Hong Kong

The market gradually digested the favorable factors of trade wars, causing Hong Kong stocks to suffocate under the spur of lack of stimulus. The Hang Seng Index opened 14 points lower yesterday, and the early rebound was weak and rushed up to 295 points. In the afternoon, the market closed at 26,566 points, down 219 points, and slammed 10 antennas. The H-Share Index lost 75 points to 10,451 points, and the main board turnover shrank to 68.1 billion yuan. The government has pushed back the barriers for two consecutive days and local retail stocks have rebounded. The analysis pointed out that the current investment climate in the external environment has improved and the HSI has a low risk of falling. It is expected that the market will continue to fall slowly.

Tencent continued to weaken and fell 320 yuan

A-shares are also weak. The Shanghai Composite Index fell 12 points to 2941 points, and the Shenzhen Component Index fell 74 points to 9567 points. The two cities traded 368.3 billion yuan.

Blue-chip stocks generally softened. Wanzhou International (288) led the decline of 4% to 7.46 yuan; AAC Technologies (2018) fell 3.6% to 46.95 yuan. However, the domestic banks were stable, ICBC (1398) edged up 0.73% to report 5.5 yuan, and CCB (939) fell 0.16% to 6.29 yuan. The government launched a third round of support for corporate relief measures on Tuesday and yesterday, stimulating the rise in related shares for the retail, tourism and logistics industries. Oriental Watch (398) closed up 5.8% to 1.82 yuan; Sasha International (178) rose 3.1% to 1.99 yuan. KMB’s parent company (62) rose 0.24% to 20.6 yuan, and the newly created (659) rose 0.17% to 11.78 yuan. Travel agency vertical and horizontal travel (8069) closed up 17.6% to 0.5 yuan; East Travel (6882) rose 3.8% to 0.54 yuan. However, the rumored subsidy ticket measures failed, Cathay Pacific (293) closed down 2% to 9.88 yuan.

Tencent (700) continued to weaken, closing down 2.3% to 320 yuan

The related new economic stocks that were previously speculated were also scattered. Readings (772) fell 4.8% to 30.45 yuan; Zhongan Online (6060) fell 3.3% to 23.7. Yuan; Tongcheng Yilong (780), which was downgraded by Lyon, fell 3.15% to 12.3 yuan. Prudential (2378) rose 1.7% against the market and reported 141.8 yuan; Standard Chartered (2888) rose 1% to 68.6 yuan; but HSBC (005) fell 0.3% to 61.2 yuan.

Wu Lixian, a strategist at Everbright Sun Hung Kai Securities, said that the market has gradually digested the good news of Sino-US trade talks and Brexit last week, and there was normal retreat. At present, the 27,000-point mark at the top of the large-scale downtrend channel fell. The investment climate in the external environment has improved. He also said that investors are more concerned about when the political situation in Hong Kong can be resolved than the news of the removal of the Chief Executive. The current market should be cautious.


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