The bad news of the resumption of the Hong Kong stock market at the beginning of the week came together. The U.S. stock market made a big break last week. Once once more, defensive stock prices such as Link (823) and MTR (066) hit lows once more, indicating that the capital has retreated. The market can hold 17,000 points and end down 523 points, which is already considered to be resilient.
U.S. stocks closed lower last week, and Hong Kong stocks were expected to be under pressure, but there was more bad news than estimated. Mainland A shares resumed the market down. The official mainland media “People’s Daily” published a commentary stating that it insisted on “dynamic clearing”. The concept stocks of returning to normal fell sharply. The Shanghai Composite Index fell below the psychological threshold of 3000 points and closed at 2974 points, down 50 points; the Shenzhen Component Index closed at 10522 points, down 256 points. What is even more exciting is that the Russian-Ukrainian war has entered a new state of tension. Many cities such as Kyiv, the capital of Ukraine, have been attacked by air strikes. Before the two countries fought incessantly, the Crimea Bridge in Russia was bombed, and Putin’s eyebrows were shaved. Waves, Russia launched a major bombing of Ukraine with missiles.
The exchange rate of minifigures fell by more than 500 pips under pressure
Russia suddenly launched an air strike. Once the conflict escalates, will it cause a new wave of shocks to oil and grain prices, creating new uncertainties. After the news came out, the RMB/USD CIF closed at 7.144, up from 4:00 pm the previous day. It closed at 7.0931 in 30 minutes, down 509 pips.
Europe is facing rising gas prices and inflation, and may even need intermittent power outages to survive the winter. If the situation worsens, the economic crisis between Europe and the UK may intensify. The market was originally worried that the UK will have an emerging market-style financial turmoil, but now the situation may be even tighter. There is a tea talk in Central. A few days ago, the luxury yacht of the Russian super-rich Mordashov was discovered in Hong Kong. Could it be that the super-rich received the news that the war would heat up, so they came to Hong Kong to avoid the limelight?
Under the continuous attack of bad news, the Hang Seng Index finally closed at a near-day low yesterday, closing at 17,216 points, down 523 points, or 3%; the H-Share Index closed at 5,880 points, down 193 points; the KSE Index fell 140 points, closing at 3,398 points, with turnover increased to 95.1 billion yuan. Different sectors were basically under pressure. After the Golden Week ended, gambling stocks retreated. Sands China (1928) plunged 9% to close at 19.66 yuan, being the worst performing blue-chip stock; GEG (027) fell 4.5% to close at 46.45 Yuan; SJM (880) fell 7% to close at 2.77 yuan; Wynn Macau (1128) fell 5.5% to close at 5.17 yuan; MGM China (2282) fell 9% to close at 4.31 yuan.
Beware of bad news not fully digested
The softening of gambling stocks is related to the comments of the official media that insist on dynamic clearing. Mainland consumer stocks are affected. Li Ning (2331) fell 9% to close at 60.9 yuan; Anta (2020) fell 5% to close at 85.9 yuan; China Resources Beer ( 291) fell 7.5% to close at 54.25 yuan; Haidilao (6862) plunged 7% to close at 15.2 yuan; Nongfu Spring (9633) fell 6% to close at 45.3 yuan.
The index fell so hard, it was difficult for the Internet stocks to stay out of the situation. Meituan (3690) intends to explore the Hong Kong and international markets considering the slowdown in mainland growth. The stock price fell 7% to close at 161.3 yuan; Bilibili (9626) fell 9% to close at 114.9 yuan; Jingdong Group (9618) fell 3.7% to close at 192 yuan; Tencent (700) fell 2.5% to close at 263.8 yuan; NetEase (9999) fell 3% to close at 119.9 yuan; Alibaba (9988) fell 3% to close at 78.7 yuan; Baidu (9888) fell 2.85 %, to close at 116.1 yuan.
The US Department of Commerce tightened control over chips, and chip semiconductor stocks fell. SMIC (981) fell 4% to close at 16.52 yuan; Hua Hong Semiconductor (1347) fell 9% to close at 16.38 yuan; Shanghai Fudan (1385) plummeted 20% , closed at 31.05 yuan; ASMPT (522) inserted 7% and closed at 44.9 yuan.
Compared with various negative factors, Hong Kong stocks fell relatively finely yesterday, closing at 17,216 points, reflecting the drop in selling pressure at 17,000 points. However, the current inflation in the United States is still far from the acceptable level of the Federal Reserve. Many directors are still unanimously ignoring the financial market crisis, and they must resolutely implement the goal of suppressing prices. In addition, geopolitics is heading for the stage of hand-to-hand combat. These emerging news may still be It has not been completely digested, so unless there are really a lot of bullets on hand, it is not appropriate to rush to the bottom.
Jin Riku
