注：大市沽空比例近日情况What changes have occurred in the short selling of tencent, Meituan, and alibaba? How do institutions view the subsequent market trends?
Caixin Media reported on November 6th (Editor: Hu Jiarong), today Hong Kong stocks experienced a significant pullback, with the technology index falling more than 3% at one point. As of the time of publication, it is down 2.55%.
It is worth noting that the short selling ratio in the Hong Kong stock market has also slightly increased. As of the close of yesterday, the overall market short selling ratio rose from 10.66% on October 31 to 13.72% on November 5.
Note: Recent short selling ratio of the overall market
Focusing on tencent Holdings (00700.HK) which has attracted significant market attention, its short selling ratio increased from 1.62% on October 31 to 9.83% yesterday.
Note: Short selling situation of tencent Holdings
The short selling ratio of Meituan-W (03690.HK) also showed a rebound, rising from 7.70% on October 31 to 12.95% yesterday.
Note: Short selling situation of Meituan
The short selling ratio of Alibaba in the same period has rebounded. It increased from 7.09% on October 31 to 18.08% yesterday.
Note: The short selling situation of Alibaba.
Although the short selling ratios of Tencent, Meituan-W, and Alibaba have all seen varying degrees of rebound, compared to previous highs, the short selling ratios of these companies are still at relatively low levels. This may indicate that despite some market uncertainties, investors remain optimistic about the long-term growth potential of these internet giants.
Note: Historical short selling situation of Tencent.
Institutions stated that the key to the future trend of the Hong Kong stock market still lies in the strength of fiscal policies.
Cathay International pointed out in the early trading session today that after experiencing a narrow range of fluctuations for about two weeks, the Hong Kong stock market has temporarily formed a situation with support from valuation and policy on the downside, and pressure from funds and profit on the upside. It is expected that in this critical period of domestic policies and the 'shoe drop' of the US election this week, the market will start to look for direction, and the key to the subsequent trend of the Hong Kong stock market still lies in the strength of fiscal policies.
Externally, with the 'shoe drop' of the US election and the Fed rate cut this week, the reduced uncertainty may lead to a possible decline in US bond yields, potentially easing the pressure on Hong Kong stock liquidity and valuation repair. However, there is a possibility of unexpected political turbulence in the US election, which may keep US bonds, the US dollar index, and gold relatively strong due to rising safe-haven demand.
