© Reuters. Hong Kong’s Hang Seng Index closed at a low level in June Analyst: Hong Kong stocks have not yet reached the bottom!
Investing.com – On Monday (26th), the Hong Kong stock market fluctuated and closed down. The Hang Seng Index fell 0.5%, and the Hang Seng Technology Index fell 0.17%. The turnover of the Hang Seng Index today was 83.805 billion; Beishui maintained a certain enthusiasm, with a net purchase of 3.193 billion yuan of southbound funds and a net inflow of 4.485 billion yuan.
It fell 0.51% to 18794.13 points, the lowest closing level since June 1; it fell 0.43% to 18,704.0 points before the deadline; it fell 0.17% to 3872.61 points; it fell 0.35% to 6372.19 points.
Analysts believe that uncertainty still hangs over Hong Kong stocks, and now is not the time to increase positions. Guosen Securities stated that although the valuation of Hong Kong stocks has returned to a relatively neutral position in the short term, from the perspective of technical analysis, the downward momentum of the depreciation of the RMB and the Hang Seng Index is still relatively smooth, which does not yet constitute a buy signal; , The uncertainty of the specific operating target point currently given mainly comes from the high volatility of the 10-year U.S. bond yield. Therefore, it is not feasible to use the risk premium model to give point guidance in advance.
In addition, from a fundamental point of view, Zhongtai International believes that the direction of Hong Kong stocks depends more on China’s own endogenous economic growth momentum and policy expectations. When the Hang Seng Index rises to nearly 20,000 points, further upward movement requires stronger policy stimulus and With endogenous growth, it is expected that the Hang Seng Index will return to volatility in the short term.
On the board today, CXO concept stocks, power stocks, and film concept stocks rose, while Internet, gaming, and IT stocks fell. Among them, China Resources Power (HK:), Huaneng Power International (HK:), Alibaba Pictures (HK:) rose more than 5%, MGM China (HK:), Wynn Macau (HK:) fell more than 3%.
Among technology stocks, Tencent Holdings (HK:)(OTC:) and Alibaba (HK:)(NYSE:) fell about 1%.
[This article is from Yingwei Caiqing Investing.com, to read more, please log in to cn.investing.com or download Yingwei Caiqing App]
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Editor: Liu Chuan