The United States decided to raise interest rates by 0.75%. After the Federal Reserve Chairman Bernanke’s meeting, he will not continue to raise interest rates vigorously. The worst time for the market has passed. The gram index rose 469 points, or 4%, the largest increase since April 6 of the previous year.
Local technology and Internet stocks are weak to keep up
The pace of interest rate hikes in US stocks slowed down, but Hong Kong stocks were completely unable to keep up. The Hang Seng Index opened 35 points higher with the outside world. After that, the trend was repeated. After rising more than 100 points, it quickly turned down and closed at 20,622 points, down 47 points; the HSCEI closed at 20,622 points. 7082 points, down 8 points; the KSE closed at 4552 points, up 15 points, with a turnover of 90.1 billion yuan.
Peripheral technology stocks are booming, and technology stocks listed in Hong Kong are completely ignored. The better performance is Shangtang (020), which has been down for several days, soaring nearly 6% to close at 2.47 yuan; Tencent (700) edged up 0.19%, To close at 320.8 yuan, Alibaba (9988) fell 1.8% to close at 99.15 yuan; Meituan (3690) fell 1.1% to close at 188 yuan; JD.com (9618) fell 1.5%, which is far from the performance of peripheral technology stocks.
The atmosphere of Hong Kong stocks is more cautious than that of US stocks. One of the reasons is that the speculation of external interest rates has slowed down. Hong Kong interest rates have not been increased, and the psychological hanging sword has not been lifted. Since the Asian Financial Crisis in 1998, Hong Kong people have been financially conservative, and they should be more able to bear interest rate hikes than Americans. The difference is that the United States is basically in the absence of the epidemic and its economy is relatively active. , The flow of money is not smooth.
The sullenness of the local economy can be reflected in the mid-term announcement of Retail Dividend (1212) to turn a profit. Lifestyle mainly operates Sogo Department Store. In the past, when the economy fluctuated, Sogo’s business showed great resilience, but the company’s half-year results just announced are almost broken, and they are still not optimistic regarding the second half of the year.
Life’s interim results turned from profit to loss, recording a loss of 475 million yuan attributable to shareholders, a basic loss per share of 0.317 yuan, and no dividend. In the same period of 2021, it recorded a net profit of 220 million yuan. During the period, the department store business revenue decreased by 12.8% to 927 million yuan compared with the same period of last year. The total sales proceeds from self-operated, post-sale orders and franchise counter sales transactions decreased by 11.7% to 25.1 million yuan. billion. In addition, the group recorded investment losses of more than 400 million yuan and foreign exchange losses. Several losers ordered profits to rise, and the stock price was also very weak.
Strategic aggressiveness is highly sensitive to market trends
The welfare situation is somewhat similar to Hong Kong. In 2018, the company’s business was still smooth, but it began to be hit by the black storm in 2019, and it has never been better since then. In addition to the business being affected by the epidemic this year, even stock investments have lost money. With the US dollar soaring, foreign currencies will be attracted. Lifestyle previously purchased land in Kowloon Bay and used it to operate retail business. The strategy was quite aggressive. Due to the very adversity, the stock price fell into a very weak position at the beginning of the black storm, and it did not even have a decent rebound. Life’s stock price reached a high of more than 18 yuan in 2018, which is almost 85% lower than yesterday’s closing price of 2.64 yuan.
Some tea lovers in Central feel that Lifeford has been doing well in the past. When the stock price was 6 or 7 yuan, it was “low buy”. Later, when the situation was wrong, it stopped, and now it is on the boat. He believes that Lifestyle is an enterprising company. The Kowloon Bay project will start operating in 2023, and it will be more sensitive to the market. If the market recovers at that time, it can make a pig head, but if the downturn continues, the company will be very difficult. , now the stock price at hand can only be held firmly, but to raise it, we must wait until the market turns.
Jin Riku
