Chief Executive Li Jiachao released the “Policy Address” yesterday, and launched a number of new ideas, many of which are innovative in concept, vigorously vying for business, talents, and innovation, including the establishment of the Hong Kong version of Temasek “Hong Kong Investment Management Co., Ltd.”, the establishment of 300 The “co-investment fund” of 100 million yuan, through the “high-end passport plan”, will refund the outstanding talents who have lived in Hong Kong for 7 years and have to pay spicy tax in Hong Kong. After the last government’s turbulent five years and the impact of the epidemic, Hong Kong really needs to strengthen its capital and cultivate its yuan, make new moves to develop the economy, consolidate local competitiveness, and at the same time boost the confidence of Hong Kong people.
During the election campaign, Chief Executive Li put forward the belief of “results as the goal”. The implication is that we should not be constrained by procedures, and the most important thing is to achieve practical things. wrong idea. The new “Policy Address” is very long. The Chief Executive’s speeches are all regarding drooling. The main thing is to implement pragmatic thinking, to concretize many concepts, and to set hundreds of KPIs at the same time. These ideas will be launched soon. During the five-year term, Hong Kong’s international status and competitiveness will be re-strengthened.
“Policy Address” Showcases Promising Style
The government must have a long-term vision, and at the same time cannot ignore the immediate future. In the second half of this year, the external system will raise interest rates, and local investment sentiment will be sluggish. The “Policy Address” has short-term boosting measures, including providing support for small and medium enterprises, and introducing measures to attract talents and talents. Labor, improve labor shortage. Before the report was published, it was reported that the tax on talents and talents would be revoked, and the result was as expected. However, it is not tax-free when buying a property, and you have to live for 7 years before you can get a tax refund. If you are an “excellent talent”, real estate agents feel that there is no reason to speculate.
Although the new “Policy Address” has measures to promote the economy in the short and long term, there is no concept of speculation, and the reaction of the investment market is relatively flat. Although U.S. stocks did well every night, Hong Kong stocks opened weakly. After the report began to be read, the index was soft, and real estate stocks did not do well because of their excellent talents. The exposure of the Chief Executive’s policy blueprint has limited stimulus to Hong Kong stocks. There are several reasons. First, the main components of Hong Kong stocks are mainland stocks, and local stocks are limited.
The SAR government’s measures have the greatest impact on the creation of a financial center environment. Financial software, hardware and infrastructure are well done, and funds are willing to be released to facilitate valuation. Other government measures can only affect individual industries.
Secondly, the major measures seem to be relatively stable in the real estate policy, and it seems that the scope of talent reduction is relatively narrow, and the news has been digested in advance. After the news was exposed, the trend of local real estate stocks generally declined, and New World (017) plunged nearly 8%. It closed at 18.82 yuan, the worst-performing blue-chip stock; Henderson Land (012) fell 4% to 21.45 yuan; SHKP (016) fell 3.6% to close at 89.5 yuan, with a smell of death.
Looking back at the “Policy Addresses” of the previous chief executives, it is impossible not to mention the SAR’s debut work. At that time, the first chief executive Tung Chee-hwa proposed the “85,000 housing plan”. At first, the market did not have a big response, but it was only later that the “Jie Tita” was known. The second Chief Executive Donald Tsang’s “Policy Address” was generally well-received by the market because he was a wealthy man and a big crocodile, but he was also referred to as “a doctor of luck and the tail of a disease.” At present, geopolitical tension is tense, and the government is easy to get into trouble. British Prime Minister Zhuo Huisi is in charge of people. He has become a “living dead” because of tax cuts and wrong medicines when he took office. However, under the challenging social environment, the SAR government must rise to the challenge. This “Policy Address” has introduced a large number of policies. Although the stock market has not risen sharply, the temporary reaction seems to be a receipt, and then the information must be well penetrated. . How to implement it is very important. Before seeing the actual results, it is necessary to strengthen the explanation so that the public can appreciate the changes. The most important thing is to stimulate the general public’s confidence in the future, and encourage the business community to be willing to invest, so that Hong Kong can return to normal as soon as possible. The stock market will naturally react slowly.
Chief Executive Li showed a promising style when he came to power, but he just hit the objective environment to blow the wind. The H-Share Index closed at 5,597 points, down 158 points; the KSE Index fell 139 points to close at 3,196 points, with a turnover of 84.7 billion yuan.
Electric vehicle technology network shares fall, pushing the market down
Some blue-chip stocks announced their third-quarter results yesterday. The Hong Kong Stock Exchange (388) announced a net profit of 7.099 billion yuan for the first three quarters ended September this year, down 28% year-on-year. Shares closed at 252.8 yuan, down 2.02%.
Apart from Hong Kong property stocks, Chinese property stocks were also under pressure. Sanxun Group (6611) tumbled 27% to close at 0.21 yuan; Country Garden (2007) and Vanke (2202) fell 2% to close at 1.38 yuan and 13.2 yuan respectively.
Tramway stocks and Internet stocks were generally weak, affecting the market trend. Xiaopeng (9868) plunged 9.5% to close at 31.85 yuan; Weilai (9866) fell 7% to close at 92.65 yuan; Li Auto (2015) added 4% to close at 71.8 yuan; Alibaba (9988) and Tencent (700) both Qi fell 4% to 72.7 yuan and 244 yuan respectively; NetEase (9999) fell 3% to close at 109.4 yuan; Kuaishou (1024) and Bilibili (9626) fell 7% to 47.65 yuan and 91.6 yuan respectively. .
Jin Riku
