Yesterday, Powell "released the dove" at the press conference, saying that a rate cut in September may be an option if inflation data supports it, and the FOMC will choose to lower interest rates as early as September.
Since July, the Hong Kong stock market has been continuously correcting, and the Hang Seng Index has fallen below 17,000 points, touching the lower edge of the 20-day trading range. The market sentiment has become extreme, and the risk premium has risen to its highest level since late April, with short selling accounting for the highest level since early April, at 19%. As of July 31,$Hang Seng Index (800000.HK)$The month fell 2.11%, the month fell 3.55%, and the month fell 1.06%.$Hang Seng China Enterprises Index (800100.HK)$Cow friends, which is your favorite golden stock for August?$Hang Seng TECH Index (800700.HK)$Cow friends, which is your favorite golden stock for August?
China International Capital Corp believes that expecting a strong stimulus for Hong Kong stocks is still unrealistic. Various internal and external constraints make policies difficult to present in an open and transparent manner. Therefore, the market is more likely to maintain a structural rally under a volatile pattern. After a significant correction in the near term, the market is approaching key support levels at weekly and monthly levels. Therefore, if there is no unexpected impact, it may stabilize at this level.
Yesterday, Powell "released the dove" at the press conference, saying that a rate cut in September may be an option if inflation data supports it, and the FOMC will choose to lower interest rates as early as September.
Analyst Zhang Yidong at Industrial Securities believes that after the slowdown in the US economy and the increasing political turmoil in the United States, overseas stock markets may once again switch between highs and lows, and funds that are expected to allocate to emerging markets, especially in the Asia-Pacific region, may temporarily increase their holdings of Hong Kong stocks.
China Galaxy Securities said that under the expectation of a rate cut, global liquidity is improving, and foreign investment is expected to flow into the Hong Kong stock market. As foreign investors prefer, the technology sector is expected to see an upward trend. Historically, during the period of declining yields on US 10-year Treasuries, the technology sector represented by the information technology industry performed well and was easier to achieve excess returns relative to the Hang Seng Index.
Ping An Securities is also optimistic about Hong Kong stocks. Analysts claim that the opening of overseas interest rate reduction window and the continued implementation of domestic policies will drive the power of funds to increase holdings of Hong Kong stocks. Funds are expected to return to Hong Kong stocks. In addition, Hong Kong stocks are more sensitive to the shift in interest rate differentials between China and the United States. In summary, it is recommended to pay attention to sectors that are sensitive to the shrinkage of interest rate differentials between China and the United States, such as the pharmaceutical and consumer sectors, as well as the Hong Kong Internet sector.
Futu News has compiled some of the institutions' Hong Kong stocks for August for Mooer's reference:
Cow friends, which is your favorite golden stock for August?
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Editor/Lambor