US interest rate cuts are expected to heat up, Hang Seng Index rose 227 points
The market is expected to raise interest rates at the end of July, and the US stocks hit a record high in the three major indexes on the previous day. The Hong Kong stock market spurred 378 points in the early part of the session yesterday to see a high of 28,582 points. However, the gains narrowed in the afternoon. The Hang Seng Index eventually closed at 28,431 points, up 227 points or 0.81%. H pointed to 10,784 points, up 82 points or 0.77%; the main board turnover was 67.4 billion yuan.
The market has risen, reflecting investors’ attitudes remain cautious. Huang Baining, head of Citibank’s investment strategy and global wealth planning department, believes that interest rate cuts will indeed boost the market, but the effect will only stay short, because there may be another type of worry in the market, “If you cut interest rates If you want to reduce the number of times, is there a thing in the trade war?" He expects the HSI to fluctuate from 26,000 to 29,000 in the short term.
In the long run, he said that the market still needs to focus on macroeconomic factors such as global economic performance, Sino-US trade war, and global central bank monetary policy. He said that the valuation of Hong Kong stocks is at a low level. The Hang Seng Index is trading at a price-to-earnings ratio of 11.8 times this year, which is lower than the average of 12.5 times. In addition, some stocks still have room to rise and will maintain the forecast for the HSI to see 30000 points at the end of this year. Refers to a potential total return of about 5.1% in the second half of the year.
Property management stocks rose, Ya Life rose 10%
Interest rate cuts are expected to benefit property stocks. SHKP (016) rose 2.2% to 134.6 yuan; New World (017) and Henderson Land (012) also rose 1.6% to 12.4 yuan and 43.2 yuan respectively. The performance of property management stocks also stood out. The profitability of Yasheng Life (3319) was 10.2%, closing at 16.18 yuan; Xincheng Yue Service (1755) and Kaisa Property (2168) were up 6.3% and 4.9% respectively.
Yao Yaohui, director of the Research Department of Yaocai Securities, said that the property management stocks have stable business development and financial stability compared with other sectors in the market. “The concept of public utilities is less, and it is reasonable to avoid the dangers and money." . However, he pointed out that even if the fundamentals are good, the relevant shares have been raised for some time, and investors are not recommended to chase.