Sina Hong Kong Stock News According to a report by the Hong Kong Economic Daily, HSBC (00005) did not release details of the new round of repurchases. Coupled with turbulent peripheral market conditions, Hong Kong stocks, which lacked the support of Beishui, had a high red market yesterday.
The market focuses on the records of the Federal Reserve's interest rate meeting announced on Thursday, and the return of Beishui on the same day will determine the short-term direction of the market in the future.
The interest rate on US ten-year bonds is about 2.9%. Market concerns about interest rate hikes have not dissipated, and US stocks rebounded more than 100 points early.
As of 00:00 this morning in Hong Kong, Hong Kong's overnight price rose 71 points to 30,822 points; Tencent (00700)'s US-listed deductible securities (ADR) converted to HK$447.28, which was 1.5 yuan higher than the Hong Kong closing price of $445.8. Taking into account the overall blue chip ADR performance, this is equivalent to an increase of 65 points in the Hang Seng Index.
HSBC will remove the market after closing today, which is expected to affect the Hang Seng Index by about 62 points.Guotai JunanMarket strategist Cheng Jiawei said that since the Hong Kong Stock Connect has not yet been launched, and the market was already speculating on HSBC's performance expectations before the Spring Festival holiday, yesterday's HSBC performance was an excuse for the market to take advantage of the momentum to pull back. Coupled with the poor performance of the European and American stock markets, Hong Kong stocks followed the downward trend from the periphery. It is estimated that the Hang Seng Index will fluctuate around 30,000 points.
The Treasury records were announced tomorrow, and the US will raise interest rates next month
He added that Thursday is the key to the short-term future direction of the Hong Kong stock market. Due to the reopening of channels from north to south on the same day, the Reserve Administration will also release the minutes of the last meeting to discuss interest rates, and the market will look for guidance on the direction of the US interest rate from the records.
The Reserve will release the minutes of the January meeting at 3 a.m. local time on Thursday, and federal funds rate futures show that interest rate hikes in March are likely to reach 99%.
Hong Kong stocks opened high and low on the first trading day of the Year of the Dog. The Hang Seng Index rose at most 224 points yesterday, but the upward trend did not continue. The high and low fluctuation reached 619 points, closing at 30,873 points, down 241 points. The national index fell 138 points to close at 12,396 points. The market turnover was 1,07.8 billion yuan.
Jefferies: China's foreign trade improves and allows the renminbi to appreciate
Sean Darby, chief stock strategist at Jefferies Global, believes that the mainland's economy is growing steadily this year, and monetary policy may be moderately tightened. Compared with developed country debt interest rates rising due to rising inflation expectations, the trend of mainland debt interest rates last year fully reflected the market's expectations of deflation turning into inflation, and the improvement in import and export figures also allowed the RMB to appreciate.
He expects that the profits of Chinese enterprises will increase by double digits for three consecutive years this year. Investors also estimate that the amount of free cash flow from Chinese stocks will reach a record high this year, but he believes that the return on equity of enterprises will still take time to rebound.