On the eve of the U.S. interest rate meeting, Wall Street speculated that Hong Kong stocks were relatively conservative. The Hang Seng Index only closed with a gain of more than 100 points, but the real performance cannot be judged by the index alone. Chief Executive Lee Ka-chao made a sudden move. Starting today, he will suspend safe travel, and the entry will become “0+0”. In addition, Macau is lenient, and the expectation of customs clearance between China and Hong Kong has greatly increased. Consumption, retail, and hotel stocks have rushed up. The proportion of these plate indexes is not important, but the increase in buying is quite moderate.
Valuation restoration of local stocks urgently started
The Chief Executive released air a few days ago, predicting that the economy will boom in the next year. The original strategy was to be gentle on the outside and open on the inside. It was decided to stop traveling with peace of mind before the guild meeting. Prior to this, he had changed his attitude towards using Anxin Travel, and he changed his approach as expected.
At the same time, foreign news quoted Qin Gang, the Chinese ambassador to the United States, as saying that the current epidemic prevention policy is gradually being relaxed, and it is believed that in the near future, relevant measures will be further relaxed to welcome more international tourists. He believes that the new measures will first help stimulate the increase in tourist arrivals, and then business exchanges will gradually return to normal, and the economy will slowly recover.
From the speed of the local grace, the market estimates that China and Hong Kong may be opened before the end of the year, so the return to normal concept stocks have rebounded. The Hang Seng Index has risen to nearly 20,000 points, and the resistance is gradually increasing. However, as mentioned before, during the index digestion period, the sector will take turns to speculate. There are still many flat stocks that can be bought if you have a vision, just like the retail stock Sasha (178 ) skyrocketed in the past few days, and soared another 14% yesterday, closing at 1.93 yuan, which is not flat at the current price, but it can’t be considered expensive, because Sasa’s normal valuation is worth 3 or 4 yuan casually, but the epidemic The market with extremely bad timing only happens once in ten years, and it will fall to such a level. When the situation is a little clearer, there will be no such flat valuation. There are two main ways for stockholders to buy stocks with a flat valuation. One is to see the stock price fall to the bottom, but the bottom line is to ask yourself whether you have the strength and patience to bargain. The risk is lower, but the cost of buying goods will be higher.
The poor performance of Hong Kong stocks in the third quarter of this year is mainly due to two major problems. One is the lingering epidemic situation, and there is no hope of returning to normal in China and Hong Kong; the other is the sharp increase in interest rates in the United States. The high interest rate in the United States, even if the short-term increase slows down, it will still maintain for a period of time, which will always have a cooling effect on the economy. But for Hong Kong, the most important thing is the customs clearance between China and Hong Kong. Hold on first, it is the general trend to relax the epidemic control in the mainland, and it is normal for the valuation of Hong Kong stocks to increase once more.
The Hang Seng Index fell 81 points in the early part of yesterday, and once fell as low as 19382 points. As the government announced the optimization measures for the prevention and control of the epidemic in Hong Kong and the positive signals of customs clearance between Hong Kong and the mainland, the Hong Kong stock market rose repeatedly in the morning market. 250 points, and closed at 19596 points under the retreat, up 132 points, with a turnover of 124 billion yuan. The State Index closed at 6654 points, up 26 points; the KCI rose 30 points to close at 4223.
Local consumer stocks became the big winners, retail, catering and real estate stocks all soared. Chow Tai Fook (1929) rose 3% to close at 15.32 yuan; Tam Tsai International (2217) soared nearly 15% to close at 2.44 yuan; Café de Coral (341) rebounded 8% to close at 13.9 yuan; Happywood (052) rose 9%. It closed at 13.38 yuan; even the major stock Wharf Real Estate (1997) rose by more than 7% to close at 45.35 yuan.
Semiconductor stocks are speculating in mainland China
Another big gainer was semiconductor stocks. According to foreign reports, China is formulating a semiconductor industry support plan with a scale of more than 1 trillion yuan, which stimulates semiconductor stocks to rise. Hua Hong Semiconductor (1347) rebounded 17% to close at 31 yuan; It closed at 0.6 yuan; SMIC (981) rose 10% to close at 18.18 yuan, making it the best-performing blue chip stock; Hongguang Semiconductor (6908) rose 7% to close at 3.44 yuan.
The stocks that performed well before were given up when the lagging sectors were speculated. R&F (2777) Co-Chairman Zhang Li was reported to be arrested and facing extradition to the United States for trial. R&F clarified that it did not provide a security deposit. The stock price still fell 12% to close at 2.15 yuan. The rest of the mainland property stocks also fell. CIFI (884) fell 6% to close at 1.43 yuan; Country Garden (2007) dropped 4% to close at 2.78 yuan; Agile (3383) fell 3% to close at 2.9 yuan. Pharmaceutical stocks were also under selling pressure. Hansoh Pharmaceutical (3692) fell 6% to close at 14.4 yuan, the worst performing blue chip stock; Alibaba Health (241) fell 4.5% to close at 8.75 yuan; CSPC (1093) fell 4% , to close at 8.2 yuan.
If the Mainland and Hong Kong pass the customs, the flow of money will go with the flow of people, different industries will benefit in turn, and many companies will benefit, so the upward trend will spread, just like the long-term decline in the stock market, even good quality companies will eventually be sold off . If the valuation of Hong Kong stocks recovers, there will still be shares that will benefit in the future.
Jin Riku
