After the HSI regained 22,000 points, it did not stabilize so quickly. Under the external softening, the HSI fell by 145 points, which is not much. However, some cyclical stocks have adjusted significantly, reflecting that investors are particularly wary of such stocks. . U.S. bond yields rose by 3%, Wall Street’s investment sentiment became tense once more, and all three major indexes fell. The investment focus is still on inflation expectations. Many heavyweight analysts worry that inflation has normalized and it will take a long time to correct. During this period, interests will rise sharply. There seem to be more and more voices that the United States cannot escape recession.
OOCL dyeing blue sparks controversy
Another thing worth noting is that U.S. regulators have proposed to increase protection for investors to prevent intermediaries from raising prices when dealing with customer orders. Some analysts say that the new direction may be a blow to commission-free brokers. In recent years, high-frequency trading has become popular in the United States. Some brokerage houses attract customers without commission, and then resell the data. After the speculators get the data, they can buy shares at a faster rate. If this practice is restricted, it may have an impact on market trading. However, such ideas may not be implemented when they are spoken, and even if they are implemented, they will take a while to be implemented, so there was no obvious impact yesterday.
In recent years, Chinese and Hong Kong investors have increased their buying and selling of US stocks, and Futu Holdings, a Chinese concept stock, has taken advantage of the times. Futu’s share price hit a high of nearly $180 in May last year, and then followed the Chinese stock market storm and fell to $46.22 yesterday. Instead, it hovered at a low level this year with little change. In terms of operation, net profit in the first quarter fell by 50% year-on-year to 572 million yuan, non-GAAP net profit fell by 47.2% year-on-year to 622 million yuan, and revenue fell by 25.6% to 1.64 billion yuan, reflecting that profits were affected by the correction of US stocks.
Compared with U.S. stocks, Hong Kong stocks adjusted relatively narrowly yesterday, and it is not clear whether the pressure of digestion and withdrawal is sufficient. The sector that performed poorly in the falling market was the shipping sector. Orient Overseas (316), an upstart in the Hang Seng Index, plunged 31.4 yuan to close at 243.2 yuan, or 11%, and COSCO SHIPPING Holdings (1919) plunged 8% to close at 13.22 Yuan. Shipping stocks fell mainly to see the Baltic index, which represents container freight, fell for 3 days. Originally, it is impossible for the freight to rise every day. It is normal for a few days following the big rise. The market reaction is so big, because everyone is worried that such a high freight cannot be maintained. If you don’t advance, you will retreat. The change pops up immediately.
Earlier, the Hang Seng Index Company included Orient Overseas as a constituent stock, and there were voices in the market that super-cycle stocks were included, which discouraged passive funds from following them, and also caused the slump in shipping stocks to attract more attention than before. Since the shipping industry is currently at the peak of the super cycle, if you have not made money from shipping stocks in the past, there is no point in rebounding.
The Hang Seng Index rose 118 points following the market opened on Thursday, and fell 270 points at most. The Hang Seng Index closed at 21,869, down 145 points; the State-owned Enterprises Index closed at 7,606, down 73 points; the KSE closed at 4,749, down 68 points, with a turnover of 163.7 billion yuan .
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Among the blue-chip stocks, Rundi (1109) rose 2.4% to close at 34.45 yuan, the best performing blue-chip stock; the two leading Chinese property developers, Country Garden (2007) and Longfor (0960), rose 2% to close at 4.74 yuan and 36.5 yuan respectively. Sunny Optical (2382) plunged 6% to close at 116.8 yuan, the worst performing blue-chip.
Beijing is currently under lockdown due to the epidemic, and entertainment venues in the lockdown area are temporarily closed. The market is worried that the food delivery platform will be affected. Meituan (3690) fell 3% to close at 201.8 yuan; JD.com (9618) fell 2% to close at 249 yuan; Xiaomi (1810) inserted 3% and closed at 12.18 yuan.
CITIC Securities believes that the adjustment of the education industry has been initially completed, and the cash on hand is sufficient to support the company’s business transformation. New Oriental led the rise in education stocks, which surged 10% to close at 13.02 yuan; New Oriental Online (1797) rose 2%. With the completion of the mainland college entrance examination, the education industry has started enrollment. Hope Education (1765) rose 7% to close at 0.6 yuan; Zhongjiao (839) rose 5% to close at 7.35 yuan; Yuhua (6169) rose 3% to close at 0.6 yuan 1.3 yuan.
Lu Yuren
