U. S. stocks still barely closed higher on Thursday, with gold falling three days before the end, while base metals and crude oil fell. Hong Kong stocks plummeted in the afternoon, but Zhitong Financial APP believes that this decline is nothing to panic about.
The Dow hit a new high again and gold prices rebounded and oil prices fell.
The Dow Jones Industrial average and the S & P 500 closed slightly higher, hitting record closing highs and rising minutes before the close after news that Federal Reserve Governor Powell took the lead in President Trump's nomination for Fed chairman.
The Dow Jones Industrial average rose 5.44 points, or 0.02%, to 23163.04, the Standard & Poor's 500 Index rose 0.84 points, or 0.03%, to 2562.10, and the NASDAQ fell 19.153 points, or 0.29%, to 6605.067.
Us stocks stimulated the ADR index of Hong Kong stocks to stabilize, closing pro rata at 28323 points, up 164points or 0.58 per cent. HSBC Holdings PLC closed at 76.74 yuan, up 0.74 yuan from the Hong Kong closing market; Tencent closed at 349.35 yuan, up 3.15 yuan from the Hong Kong closing market; China Mobile Limited closed at 78.27 yuan, down 0.03 yuan from the Hong Kong closing market.
European stock markets fell across the board on Thursday as the political crisis intensified in Spain and investors were disappointed by a number of companies' third-quarter results. The pan-European STOXX 600 index hit its lowest level this month, closing down 0.7 per cent.
WTI November crude oil futures closed down 1.44% at $51.29 a barrel. Brent December crude oil futures closed down 1.58% at $57.23 a barrel.
COMEX December gold futures closed up 0.6% at $1290 an ounce, ending a three-day losing streak.
Most of London's base metals fell. Copper for LME delivery closed down 0.26% at $6972.5 a tonne. Aluminum for LME delivery closed up 1.42% at $2149 a tonne. Zinc for LME delivery closed down 0.1% at $3114 / tonne. LME lead closed down 1.53% at US $2475 per tonne. Nickel for LME delivery closed up 1.2% at US $11775 per tonne. Tin for LME delivery closed down 0.12% at US $20030 / ton.
There is no need to be afraid to pay attention to strong varieties in the collapse of Hong Kong stocks.
The Hang Seng Index once again brushed a recent 10-year high in early trading and dived in the afternoon, falling as much as 600 points and as low as 28094 points. as of the close, the Hang Seng Index fell 1.92% to 28159.09 points, with a market turnover of 116.515 billion.
Zhitong Financial APP believes that there is nothing to panic about this decline, which is the same reason that there is nothing to be excited about the last breakthrough. The so-called rise is not too strong logic, fall is not where to fall, in fact, the fundamentals have not undergone a fundamental change in the short term, but the mentality of investors has changed.
In view of the fact that most US stocks still closed higher overnight, Hong Kong stocks were slightly optimistic on Friday, and if they rebound, there are two options: one is to do Thursday's strong varieties such as pharmaceutical stocks, and the other is to be a leading variety, while overfallen varieties should still be cautious. Steady investors and other 20-day moving average stabilized and re-entered is also a safe choice.
Analysts Gu Sheng said cement stocks performed well on Thursday, with leading stock Anhui Conch Cement (00914) doubling its performance in the first half of the year, earning 6.73 billion yuan. Although 2018 and 2019 performance is difficult to have this year's trough rebounded dramatic growth, but returned to 13, 14 times PE, has nearly 20% increase, the current price of conch believe that it can attack and retreat can defend.