The Sina Hong Kong Hang Seng Index (28224.5,-487.26,-1.70%) plunged sharply in the afternoon. As of press time, the Hang Seng Index fell 2.04% to 28125.86 points, the biggest decline in two months. The state-owned enterprise index fell 2.22% and the red chip index fell 1.61%.

Geely Automobile (25.7,-1.15,-4.28%) fell 9.31% to 24.35 yuan, leading the decline in blue chips.

Expert opinion:

Zhang Zhiwei, co-director of Citic Prudential Securities, said that the Dow soared more than 100 points yesterday and broke the top again. Hong Kong stocks also followed the external trend this morning, reaching a new high for nearly a decade, but the 19th CPC National Congress has always had a limited beneficial effect on the market. Coupled with the past National Congress of the Communist Party of China, most of the stock markets in China and Hong Kong have been weak, and the market has not yet seen the introduction of positive policies at the 19th Congress. Taking into account that Hong Kong stocks have been rampant around 28000 for more than a month before making a breakthrough, it is expected that the short term of Hong Kong stocks will first consolidate above 28600 level.

In terms of the plate, domestic insurance stocks will announce their quarterly results one after another next week. President Xi Jinping mentioned a few days ago that to fully implement the universal insurance plan, it is expected that insurance stocks will continue to be sought after by two factors, and the leading Pingbao is expected to break the top again. Zhang Zhiwei also pointed out that AIA will publish the list tomorrow, and many big banks hope that the increase in the value of its new business will be better than expected, and if the results are right, it is expected to hit a new high in the short term. On the contrary, if the results do not meet expectations, there is a good chance that the share price will take advantage of the opportunity to adjust downwards.

Tencent's China Literature will issue shares as soon as next week, but due to the cowhide drag of the market performance, the relevant news did not stimulate Tencent's share price, coupled with Tencent has risen a lot, it is estimated that it will continue to hover between 350 yuan and 360 yuan.

In addition, Zhang Zhiwei is also optimistic about the performance of infrastructure railway stocks, mainly because Belt and Road Initiative's national policy continues to invest and has been underperforming many sectors, so he is expected to have room to catch up in the fourth quarter. Stepping into the winter, it is expected that more cement production capacity will stop production, cement stocks still have room for optimism.