NagawaDepartment Chairman Li Ka-shing announced his retirement after the market closed on Friday. Relevant stocks retreated. Coupled with the decline of many major stocks, the Hong Kong stock market opened 131 points low to 31370 this morning, and did not drop 257 points to a full-day low of 31244. Since then, capital has been low to absorb the blue-chip stocks listed this week, such as Tencent (00700),Peace in China(02318), etc., as the stock price improved, the Hong Kong stock market reversed, rising by up to 154 points, to a high of 31656 points, but the final market growth narrowed, and finally closed 31513, up 11 points, or 0.04%, and fell at the 50-antenna level (about 31380) throughout the day. Main board transactions amounted to 106.223 billion yuan, a decrease of about 26% from the previous day.
The national index fell 12 points or 0.10% to 12,660 points, while the Shanghai index rose 9 points or 0.29% to 3279 points.
Watch the Reserve Board's statement after the interest rate meeting and shout at the trend of the US dollar
The G20 finance ministers and central bank governors meeting will continue to be held today and tomorrow. Among them, Germany's new finance minister Olaf Scholz said he expects dialogue with the US to cancel the US steel and aluminum tariff plans. If the US is indifferent or fails to reach a consensus with other countries, it will cause all parties to get into a diplomatic impasse. A new round of trade war may unfold, so investors should pay close attention to the latest developments.
Furthermore, the Federal Reserve will hold its second interest rate meeting this year on Tuesday (20th) and Wednesday (21st). The results will be announced at 2:00 a.m. Hong Kong time on Thursday (22nd). According to market research, 98% of economists expect to announce interest rate hikes at this meeting, by a margin of one-quarter. The market waits and makes statements after the interest rate meeting to speculate on the number of interest rate hikes this year.
Under the influence of the above factors, investors should roar about the trend of the US dollar. The market generally believes that once a trade war breaks out, the US economy will be adversely affected, and the US exchange will also be pressured. Currently, the US dollar index has fallen below the 90 mark, and was reported at 90.2 last Friday (16th).
CNOOC's performance rebounded ahead of its performance,Country GardenAbsorption at current price
There are a number of major blue-chip lists this week, including Ping An of China, which announces results tomorrow, and Geely (00175) and Tencent, which send reports on Wednesday. If the performance is better than market expectations, Hong Kong stocks can be expected to take advantage of the trend. It is expected that the Hang Seng Index will rise and fall between 31,000 and 31,700 points in the short term. If the market can regain its upward trajectory, it will not be ruled out that 32,000 points will be challenged. The larger support level is currently at 30,000 points.
Looking ahead to the market, Country Garden (02007) and CNPC (00857) will be listed tomorrow (20th) and Thursday respectively. Country Garden was well received in the middle of this month. The bank predicts that its stock price will increase by 70% to 80% within the next 30 days; it also expects the company's net profit last year to surpass market expectations, increasing 40% year over year. Therefore, investors who are optimistic about Country Garden can absorb it at current prices, up to 16.8 yuan.
CNPC shares have fluctuated in a narrow range this month. I believe they still do not reflect the trend of high oil prices in the periphery. Therefore, if investors are optimistic about CNPC, they can absorb a short-term rebound in the current price while the current price is low, and hope for 50 days (about 5.7 yuan).