Sina Hong Kong Stock News According to a report by the Hong Kong Economic Times, the World Cup ended on Sunday, but investors did not reinvest in the stock market. The performance of Hong Kong stocks yesterday was poor, and the turnover was even lower for a year. The investment community believes that Hong Kong stock trading will be active again in the middle to the end of this month. If the trade war does not worsen, the first test mark of 29,000 points can be raised.
Hong Kong stocks were in a sluggish situation yesterday. The Hang Seng Index's GDP growth in the second quarter slowed in the second quarter, andShanghai Composite IndexDecreased, rising only 14 points to close at 28,539 points. Main board turnover has also shrunk, to less than $70.1 billion, the lowest since July last year. Among them, the five hot-traded stocks of Tencent (00700), Xiaomi (01810), Ping Pao (02318), CCB (00939) and ZTE (00763) already accounted for about 18.7% of the market turnover, reflecting the concentration of Hong Kong stock trading yesterday and the lack of funds to find any highlights.
Beishui's main power, Gu Tencent
Trading has not been active yet, and capital flows from North China. Hong Kong Stock Connect recorded a net capital outflow of over 1.2 billion yuan yesterday. According to data from the Hong Kong Stock Exchange, Tencent and the Bank of China (03988) were the main sales targets, while the former recorded a total net sales volume of about 210 million yuan.
There is no clear direction for the early individual development of US stocks. As of 00:00 this morning, the Hong Kong stock market was reported at night at 28,417 points, down 93 points. Taking into account the performance of blue-chip securities listed in the US, this is equivalent to the Hang Seng Index falling 67 points.
CMB International strategist So Pui-fung said that yesterday's main board turnover was drastically reduced, or because some investors are still on vacation, so it is expected that trading contraction is only an isolated situation.
He added that according to past experience, capital will be active again after the World Cup, so it is expected that the main board turnover will pick up in the middle to the end of this month, and the performance of the Hang Seng Index may improve slightly at that time. The first target is 29,000 points. If the market succeeds in breaking through this level thereafter, the target for the next level is 30,000 points.
So Pui Fung added that although the factors of the trade war have been reflected, its subsequent development is still expected to dominate the market. Investors are urged to pay close attention to whether the Chinese side will fight back further. The market entry deployment should also focus on domestic demand, education, and pharmaceutical sectors that are less related to the trade war, and at the same time avoid exports and aviation stocks.
Furthermore, CCB International published a report yesterday stating that the negative impact of the trade war has temporarily subsided, but there is still a possibility that it will heat up again in the future. Therefore, even though Hong Kong Stock Connect received a net inflow of capital last week, the main board turnover was not considered active, reflecting market attitudes or still being cautious.
