US President Trump abruptly changed his tone, saying that the trade talks may be signed after the next election
The market is worried that the Sino-US trade war will continue. Point, a new low since October 11. Afterwards, it was boosted by the A-shares in the Mainland and the good news that Hong Kong will further push for relief measures in the short term. This boosted the Hong Kong stocks and regained most of the lost land. The HSI closed at 26,391 points, down 53 points. The investment sentiment in the market continued to weaken, with a turnover of only 71.2 billion yuan.
Mainland stocks fell first and then rebounded. The Shanghai Composite Index closed at 2884, up 0.31%; the Shenzhen Stock Exchange Index closed at 9,657, up 0.55%. In October, Hong Kong ’s retail sales plummeted by 24.3% year-on-year, and sales volume also fell by 26.2%. Both of them recorded the largest monthly decline since the record in 1981, and local retail stocks fell significantly. Lee Fook (1212) fell 3.09% to close at 8.15 yuan; Luk Fook (590) was sharply lowered its target price by the big bank, and the stock price fell 2.79% to close at 20.9 yuan; Chow Tai Fook (1929) fell 2.17% to close at 7.2 yuan; Sasa (178) closed Xingzhou In all branches, the stock price fell 1.74% to close at 1.69 yuan.
Retail stocks fell significantly
The Ministry of Industry and Information Technology publicly solicited opinions on the “Development Plan for the New Energy Vehicle Industry (2021-2035)”, saying that the tax incentives such as the purchase tax of new energy vehicles were improved. Auto stocks were sought after by market funds. GAC (2238) rose 3.73% to close at 8.91 yuan; BAIC (1958) rose 3.49% to close at 4.45 yuan.
Power stocks rise against the market
According to reports, the pilot project for the regional integration of coal power resources of central SOEs has recently been launched. Led by five central SOEs, China Huaneng, China Datang, China Huadian, State Power Investment Corporation and National Energy Group, power stocks rose against the market. China Resources Power (836) rose 3.98% to close at 10.46 yuan; Huaneng (902) rose 3.83% to close at 4.07 yuan; Longyuan Power (916) rose 3.07% to close at 4.36 yuan.
Guo Sizhi, chief executive officer of Yundifeng Securities and Asset Management, said that the HSI has fallen below all averages. In addition, the market has been weak in recent days, buying has been sparse, market conditions have been softening repeatedly, and there is a greater chance of a low test later.