2024-02-16 12:12:00
The Hang Seng Index quarterly review results are out, and the consumer sector continues to rise, leading the bullish market | Hong Kong stock market weather vane
Feng Yi, Financial Associated Press
2024-02-16 20:12:00
Financial News Agency, February 16 (Editor Feng Yi) Hong Kong stocks opened higher today, achieving three consecutive gains after the holiday. At the close, the Hang Seng Science and Technology Index closed up 3.71%, the Hang Seng Index rose 2.48%, standing back above the 10,000 mark, and the State-owned Enterprise Index rose 2.73%.
Let’s take a look at today’s market hot spots. They include: heavyweight technology stocks were strong throughout the day, and the Hang Seng Index stood above the 10,000 mark; the consumer sector continued to rise and led the bull market; the Hang Seng Index quarterly inspection results were released, involving same-journey travel and GDS.
[Heavyweight technology stocks were strong throughout the day and the Hang Seng Index stood above the 10,000 mark]
On the market, heavyweight technology stocks were strong throughout the day today. Xiaomi rose by more than 5%, JD.com rose by nearly 5%, Meituan rose by more than 4%, and Alibaba and Tencent rose by more than 2%.
Other hot sectors also rose across the board, with the concept of pharmaceutical outsourcing rebounding sharply, and WuXi Biologics rising by more than 12%. Chinese property stocks rose strongly, with Agile Group rising more than 15%.
In addition, the semiconductor, brokerage, automobile and other sectors are all very active. Gambling, tourism, games, film and television and other industries related to holiday consumption also continued to rise.
Overall, Hong Kong stocks continued their post-holiday bullish trend today, with the Hang Seng Index trading HK$70.658 billion today, indicating a clear rush for funds.
Data shows that the total short-selling amount today is HK$8.397 billion, and the short-selling ratio is about 11.88%. Anta Sports, Alibaba-SW, and Tencent Holdings rank among the top three in terms of short-selling amount, with HK$445 million, HK$422 million, and 415 million respectively. Hong Kong dollar.
[The consumer sector continues to rise, leading the bull market]
Today, the consumer sector continues to lead the market. Sectors that are strongly related to holiday consumption, such as wine and travel, film and television, are among the top gainers. Bulls may be betting on the data performance of various industries during the Spring Festival holiday.
A report issued by international investment bank Jefferies pointed out that data from the People’s Bank of China showed that between February 9 and 14, the volume of online payment transactions in the mainland increased by 15.8% year-on-year to 15.38 billion, and the payment amount rose by 10.1% to 7.74 trillion yuan, that is, the transaction volume increased by 15.8% year-on-year to 15.38 billion yuan. Volume growth is faster than expenditure growth. Among them, consumption scenarios such as catering, accommodation, tourism, retail and entertainment (such as movies) are particularly popular, with a year-on-year growth of more than 20%.
However, A-shares are about to open and resume trading next week. After the rapid rise in Hong Kong consumer concept stocks this week, the corresponding risk of a correction also deserves investors’ attention.
[The Hang Seng Index quarterly inspection results are released involving Tongcheng Travel and GDS]
Today, the Hang Seng Index announced the results of its quarterly review. There were no changes in the constituent stocks of the Hang Seng Index during this quarterly review, and the number of constituent stocks remained at 82.
However, Tongcheng Travel Holdings Co., Ltd. will be included in the Hang Seng Technology Index and GDS Holdings Co., Ltd. will be excluded. All changes will take effect on March 4, 2024.
In addition, MSCI also released the latest quarterly inspection results this week, with adjustments involving Juzi Biotech (02367.HK), 3SBio (01530.HK), Uni-President Enterprise China (00220.HK), China Traditional Chinese Medicine (00570.HK), etc. company.
The subsequent passive allocation of funds to track the position adjustment of index component stocks may also cause market fluctuations, which deserves investors’ attention.
Warning from the financial community: The content, data and tools in this article do not constitute any investment advice and are for reference only and do not have any guiding role. The stock market is risky, so be cautious when investing!
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