Hengke Index fell more than 14% in early trading, once again falling below 4800 points. It is worth mentioning that during the previous National Day period, the Hengke Index accumulated a growth rate of 13.36%. Technology stocks plummeted across the board.
According to the Smart Finance APP, the Hengke Index widened its decline by more than 14% in early trading, falling below 4700 points during the session. It is worth mentioning that during the previous National Day period, the Hengke Index recorded a cumulative growth of 13.36%. Technology stocks plummeted across the board, with Alibaba-W (09988) falling by 9.6% to HK$103.5 and Tencent (00700) falling by 7.4% to HK$443.
On the news front, cisi fin pointed out earlier that funds flowed into Hong Kong stocks during the A-share market holiday period, and in the past four trading days, Hong Kong stocks have all recorded significant gains. While the A-share market is expected to rise upon resumption, whether Hong Kong stocks will follow is uncertain, considering they have already experienced a substantial increase. It is not ruled out that A-shares will rise tomorrow upon resumption, leading to profit-taking in Hong Kong stocks, so the true test for Hong Kong stocks will be tomorrow.
This morning, the State Council Information Office held a press conference, where officials from the National Development and Reform Commission introduced the relevant situation of "systematically implementing a comprehensive set of incremental policies and solidly promoting the improvement of the economic structure and the continuous improvement of the development momentum." Previously, with the implementation of new policies such as reserve requirement cuts, interest rate cuts, and reductions in existing home loan rates, many experts have been anticipating fiscal measures to be introduced.