The energy crisis in Europe continues to rise, and Russia postponed the reopening of the Nord Stream No. 1 natural gas pipeline, which was initially closed for three days to an indefinite delay. The market is worried that European countries that are entering the winter will be in chaos due to lack of natural gas. Although Europe says its natural gas reserves are as high as 84.3%, many people are worried that Germany has failed to achieve its natural gas reserves target of 85% in early September. If the energy crisis reappears, global market conditions will return to the low level in March. Shows that the shortage of natural gas in Europe has affected the growth of global economic activity.
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The news of the reduction is endless
Therefore, the European stock market will continue to be under pressure, which will affect the market’s investment sentiment towards the stock market. Technology stocks and consumer stocks will have a greater decline in sentiment, and the latest CPI data will be released in the United States on September 13. The market is worried that the US inflation rate will rebound. In the case of rising unemployment, the Federal Reserve will still raise interest rates by 0.75% on September 21. The second time for Hong Kong stocks to seek opportunities will continue until mid-September. Recently, the shares of Tencent (700) CCASS system increased by 192 million shares, or regarding 2% of the equity, so that the market budget has shareholders who will further reduce their holdings in Tencent. Meituan (3690) and Kuaishou (1024) also have the opportunity to be relatively reduced by Tencent. Holding and supplementing the company’s cash flow and value, technology stocks will weaken to mid-September on the news that the US interest rate hike factor and Tencent may be reduced.
Now, the support level of Hong Kong stocks is at 18,200 points. If there is no further news of large-scale city closures in the mainland, Hong Kong stocks are still expected to hold this position.
Tang Lihong
Director of Taiyi Capital Management Research Department
This column is published every Monday
