Cailianshe News, October 7th (Editor Hu Jiarong) The Hong Kong stock market experienced a significant uptrend during the Golden Week of 2024.

As of today's close, $Hang Seng Index (800000.HK)$ During the holiday period, it has accumulated a 9.30% increase, closing at 23099.78 points; $Hang Seng TECH Index (800700.HK)$ and $Hang Seng China Enterprises Index (800100.HK)$ The index rose 13.36% and 10.93% during the same period, closing at 5386.48 points and 8330.85 points.

During this period, international capital significantly increased investment in Chinese assets, especially JPMorgan's shareholding in listed H shares in Hong Kong, reflecting positive expectations for the Chinese stock market from the outside world. At the same time, many hedge funds have also accelerated their pace of investment in Chinese stocks.

Although the A-share market was closed during the National Day holiday, the strong performance of the Hong Kong stock market provided valuable insights for A-share investors, potentially indicating a positive start for the A-share market after the holiday. Market participants generally expect that once A-share trading resumes, it may follow the lead of the Hong Kong stock market and usher in a wave of upward momentum.

As pointed out by CITIC Securities today, despite a rapid rise, the current valuation level of the Hong Kong stock market remains relatively high in terms of both global markets and historical perspectives, particularly with the growth and major financial sectors currently at historically low valuations. Although the fastest phase of the rise driven by short squeezing may have passed, given the gradual implementation of policies and the continued 'excitement' of investors, it is difficult to say that the Hong Kong stock market has temporarily peaked, and the valuation recovery trend is expected to continue until early November.

Hang Seng and A-shares markets are transitioning from a sharp rebound to a more sustainable upward cycle, both markets have huge growth potential, as stated by Zhang Yidong, the global chief strategist analyst at CICC.

The AH stocks premium index continues to decline.

It is worth noting that the AH stocks premium index continued to decline during the eleventh period. As of the close today, it has fallen by 13.39% during the eleventh period, closing at 128.49 points.

This closing point also marks a new low since the end of June 2020.

Looking at the components of the AH stocks premium index, $CMSC (06099.HK)$Please use your Futubull account to access the feature.$HTSC (06886.HK)$N/A.$CHINA VANKE (02202.HK)$,$MIDEA GROUP (00300.HK)$,$WUXI APPTEC (02359.HK)$and$CM BANK (03968.HK)$ During the holidays, the increases were 184.62%, 66.13%, 46.85%, 27.59%, 26.37%, 22.57% respectively.

Today's Market

In terms of market performance, semiconductors, shipping, autos, brokerages, and pharmaceutical stocks are leading in gains.

Semiconductor stocks continue to rise, with Semiconductor Manufacturing International Corporation surging over 20%.

Among semiconductor stocks, $SMIC (00981.HK)$N/A.$SHANGHAI FUDAN (01385.HK)$,$HUA HONG SEMI (01347.HK)$They respectively increased by 21.76%, 20.59%, and 16.25%.

In terms of news, data released by the South Korean Statistics Office earlier showed that in August, semiconductor inventory fell sharply by 42.6% year-on-year, exceeding the 34.3% decline in July. The destocking speed has reached the fastest since 2009, indicating a continuous strong demand for high-performance storage chips required for artificial intelligence development. Data also shows that semiconductor production and shipments in August increased by 10.3% and 16.1% respectively, further indicating that the chip industry remained prosperous for most of the third quarter.

In addition, China Merchants International pointed out in its research report that with the introduction of new stimulus policies by the government, the Chinese stock market (including A-shares and H-shares) has experienced significant growth, especially in the semiconductor and communication sectors. The institution predicts that the semiconductor industry may have an opportunity for revaluation, and this market trend may continue in the short term, especially for semiconductor stocks listed in Hong Kong.

Multiple car manufacturers reached a record high in September, with Guangzhou Automobile Group rising by over 19%.

In the auto sector, $GAC GROUP (02238.HK)$N/A.$GEELY AUTO (00175.HK)$,$LEAPMOTOR (09863.HK)$分别上涨19.06%、6.92%、3.53%。

消息方面，多家新能源汽车公司公布了9月份的交付数据，显示出积极的增长趋势。随着各地推出报废补贴和置换更新政策，许多企业实现了同比增长和环比增长，显示出9月份并非销售淡季。

$Li Auto (LI.US)$、零跑汽车和$XPeng (XPEV.US)$月交付量均创新高，$NIO Inc (NIO.US)$The auto industry has delivered over 20,000 vehicles for five consecutive months, with only NIO Inc. still struggling to recover, hovering around tens of thousands, while Xiaomi's monthly sales have exceeded 10,000 vehicles for four consecutive months.

During the holiday, surged account openings for A-shares in HK, SWHY surged over 40%.

In the brokerage sector, $SWHY (06806.HK)$Please use your Futubull account to access the feature.$CMSC (06099.HK)$Please use your Futubull account to access the feature.$CICC (03908.HK)$ Their respective increases were 40.91%, 28.54%, and 23.11%.

On the news front, according to CCTV reports, the number of A-share accounts opened by major brokerages reached a historical high during the holidays. Online account opening inquiries were overwhelming, while offline financial consultants were busy with margin trading, with some brokerages even urgently deploying support from other provinces.

This phenomenon is also evident in the Hong Kong stock market. According to previous reports, one of Hong Kong's largest local brokerages, Bright Smart Securities, saw a surge in account opening business, with customer service staff canceling holidays and being on standby around the clock to meet the demand for account opening. Tiger Brokers saw a 73.4% surge in account openings last week, with a 10% year-on-year increase in active app users.

Most pharmaceutical stocks strengthened, with Joinn Laboratories rising over 24%.

Among pharmaceutical stocks, $JOINN (06127.HK)$N/A.$PHARMARON (03759.HK)$,$TIGERMED (03347.HK)$They increased by 24.42%, 22.58%, and 8.58% respectively.

In recent news, there have been reports by the media.$WuXi AppTec (603259.SH)$May sell WuXi Advanced Therapies and other European and American laboratories. Zhongtai International stated that the market believes that the sale may alleviate concerns. The company stated that they are evaluating the situation at the base. Selling the European and American bases, with higher costs, may increase profit margins. If the demand for innovative drug research and development in China rebounds, WuXi China's business will benefit.

In addition, according to the latest statistics in the industry, led by the Federal Reserve, central banks of developed economies implemented the largest interest rate cuts since the outbreak of the new crown epidemic in September. Analysts point out that in the environment of interest rate cuts, investment opportunities in the pharmaceutical industry are being reshuffled. Innovative drugs and CXO and other segmented fields are expected to benefit first and become the leaders of the industry's recovery.

Most shipping stocks have strengthened, with Cosco Shipping Development rising by over 9%

Among shipping stocks, $COSCO SHIP DEV (02866.HK)$N/A.$OOIL (00316.HK)$,$SINOTRANS (00598.HK)$They rose by 9.26%, 6.57%, and 4.67% respectively.

On the news front, on the 3rd local time, the Arab League held an emergency meeting at the level of resident representatives in Cairo, Egypt, to discuss the situation in Lebanon and other issues. At the meeting, the Deputy Secretary-General of the Arab League, Zaki, said that due to Israel continuously escalating the conflict, the risk of regional war breaking out in the Middle East is increasing. The International Monetary Fund stated that the conflicts in the Middle East have led to the increase in prices of commodities such as international oil prices and food prices. The Houthis' attacks on Red Sea vessels have also led to a rise in shipping prices, which will impact the global economy.

Editor / jayden