Zhitong Financial APP learned that Hong Kong stocks dived in late trading. By the close, the Hang Seng index was down 1.92% or 552 points at 28159.09, the state-owned enterprises index was down 2.28% at 11357.45, and the red chip index was down 1.55% at 4334.35, with a market turnover of HK $116.515 billion.
The quota of southward connection between Shanghai and Hong Kong is 10.5 billion yuan, with a surplus of 8.692 billion yuan, inflow of 1.808 billion yuan. Shenzhen-Hong Kong links southward quota of 10.5 billion yuan, the remaining 9.827 billion yuan, inflow of 673 million yuan.
In terms of the plate, the top three increases were furniture, forestry timber and public transport, up 0.81%, 0.3% and 0.23% respectively, while telecommunications equipment, paper and paper products and cars fell by 6.02%, 5.53% and 4.37% respectively.
Blue chips fell, with New World Development (00017), Henderson Land Development (00012) and Industrial and Commercial Bank of China (01398) falling 4.05%, 3.61% and 3.16% respectively.
In terms of individual stocks, the top three gainers were Advanced Development (01667), Speed Technology (01372) and Zhongdi Dairy (01492), up 11.59%, 8.56% and 6.94% respectively. The top three declines were Youwei International (00627), Baofeng Fashion (01121) and Sino-Hong Kong Holdings (01663), down 22.06%, 15.25% and 13.92%, respectively.
The top three gains of Hong Kong stocks were Man Wah (01999), Shanghai Fosun Pharmaceutical (02196) and Weilu Group (01196), up 4.31%, 4.26% and 4.04%, respectively. ZTE Corporation (00763), Yunsheng International (01315) and Jiuxing Holdings (01836) fell 11.36%, 9.52% and 8.05%, respectively.
Hot stocks, New Silk Road Wen Lu (00472) plans to issue 1.086 billion shares to buy online credit business at a premium of 4.84%, up 4.03% to quote HK $1.29.42.
New higher Education (02001) bought shares in Enchang Company, the share price rose 5.81%, quoted price of HK $5.50.
ZTE Corporation (00763) fell 11.36% to HK $26.15. Although ZTE Corporation's net profit margin improved, ZTE Corporation was given a "sell" rating by UBS due to the slowdown in ZTE Corporation's income growth in the third quarter of fiscal year 2017. And the current price is equivalent to the bank's forecast price-to-earnings ratio of 23 times next year, close to an all-time high, Morgan Stanley gave a "reduction" rating.
Nine Dragons Paper (02689) fell 6.79%; Sunshine Paper (02002) fell 8.21%; Liwen Paper (02314) fell 6.03%; Chenming Paper (01812) fell 3.66%. It is reported that from October 17 to 18, among the latest waste paper quotations of 66 paper mills across the country, 42 paper mills reduced their purchase prices by 30-500 yuan per ton. Among them, the waste paper price of Jianghang Paper Industry in Dongguan, Guangdong Province has dropped sharply by 910 yuan / ton from the 14th to the 17th in only 4 days.
Market analysis, overnight U. S. stocks rose more and more, the Dow closed firmly above 23000 for the first time, the S & P 500 and NASDAQ also set new closing records. However, Hong Kong stocks have not followed the trend of the external market recently, and the wait-and-see mood of the market is still strong. The Hang Seng Index opened slightly higher and stabilized this morning, but weakened in the afternoon and dived quickly in late afternoon, creating the biggest one-day decline in nearly two months. First of all, the banking sector took the lead in smashing the market, and then auto stocks also collectively tumbled, and Tencent, the heavyweight stock, also showed obvious selling pressure. Some investors chose to ship the goods, and the turnover in the big market soared. However, mainland funds take advantage of the opportunity to absorb and speed up buying. According to the analysis, there is no specific reason for the sharp fall in Hong Kong stocks, because other markets are relatively stable. At present, the Hang Seng Index has plummeted, falling below several moving averages and deviating from its previous highs. It is recommended to wait and see in operation, waiting for new opportunities, while stocks supported by mainland funds may have performance.