2023-05-29 16:00:00
The trend of Hong Kong stock market is not good. The U.S. stock market rebounded last week, and the debt ceiling has reached a preliminary consensus. The Hang Seng Index is still weak at the beginning of the market.
The Hang Seng Index hit another half-year low, with the lowest point at 18,517 points, and closed at 18,551 points, down 195 points. The Kezhi Index closed at 3647 points, down 43 points; the State Index closed at 6251 points, down 82 points, and the market turnover was 110.5 billion yuan. The decline was mainly driven by technology and Internet stocks. ATMXJ dragged down the Hang Seng Index by 143 points. It fell more than 4% from the previous trading day.
The following is the counterattack to block Micron
In ATMXJ, Meituan (3690) was sold following its performance, closing down 8.1% to 115.8 yuan, with a turnover of 11 billion yuan, while Sunny Optical Technology (2382) also closed down 5.2% to 73.8 yuan, two shares Pick up the worst performing blue chips. Tencent (700) closed 2.9% to 313.2 yuan; JD.com (9618) fell 1.7% to 127.9 yuan; Alibaba (9988) fell 1.1% to 77.8 yuan; Xiaomi (1810) fell 0.2% to 10.48 yuan. ATMXJ dragged down the Hang Seng Index by 143 points. However, NetEase (9999)’s first-quarter profit rose by more than 50% year-on-year, and it paid a quarterly dividend of 9.3 US cents, which stimulated the stock price to soar 7.2% to 139.9 yuan.
In addition to tech stocks, auto stocks also performed weakly. Lingpao (9863) closed down 4% to 33.85 yuan; Weilai (9866) fell 3.5% to close at 59 yuan; Xiaopeng (9868) fell 2.6% to 30.55 yuan; BYD (1211) fell 2% to 229.8 Yuan.
The Hong Kong stock market is so weak, apart from short-term factors such as weak people, US debt negotiations, etc., it is believed to be related to the escalation of Sino-US wrestling. Recently, Beijing has returned to the technology war once morest the United States, announcing sanctions on Micron Technology. Although the status of Micron Technology is not as good as that of Nvidia, they are all big companies with status, and they have played a certain role in the Sino-US technology war in the past, so they have been listed as targets in the mainland. This is the first time that a large American company has been involved in technology. The United States has threatened to not stand idly by, so it is very likely to make another move. Therefore, the technological war may escalate, and the appetite of foreign capital for holding Chinese assets will further decline.
Major American investors are increasingly wary of political risks between China and the United States. The most obvious reason is that Warren Buffett, the stock god, has reduced his holdings of BYD (1211). From BYD’s recently announced new models to sales figures, it all reflects that the company is the most competitive electric vehicle company in the world. It will fall below Tesla, but the stock god still decides to reduce its holdings. There is a deep state saying in the United States. Big Wall Street investors are regarded as powerful people who are in charge of the government. With the series of stock gods, it is impossible not to have better news and judgments on Sino-US relations. It can be seen from his continuous reduction of holdings. Tensions in relationships and money flows. The mainland’s move once morest Micron this time will not be impulsive, so it will have an invisible impact on the stock markets of China and Hong Kong.
Biography will push preferential policies for Valley manufacturing industry
Beijing will not sit still in the face of increased pressure from Washington and the loss of foreign capital. Foreign News quoted people familiar with the matter as saying that the Chinese government is considering launching a preferential tax policy for advanced manufacturing industries as soon as possible. The move is seen as China’s response to a rebound following the reopening of the economy, which has recently shown clear signs of weakness and slower-than-expected growth in consumption. As the export situation becomes increasingly severe and the youth unemployment rate rises to a record high, more and more economists predict that China will need to introduce more policy measures to support economic growth, and the mainland will increase support to become a way to counteract the headwind. It is estimated that the stock market will follow the news fluctuations.
Jin Riku
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