Home » Short-term short-selling funds continued to increase, and gaming stocks bucked the trend and collectively rose|Hong Kong stock market benchmark-Mobile Financial Industry

Short-term short-selling funds continued to increase, and gaming stocks bucked the trend and collectively rose|Hong Kong stock market benchmark-Mobile Financial Industry

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Short-term short-selling funds continued to increase, and gaming stocks bucked the trend and collectively rose|Hong Kong stock market benchmark-Mobile Financial Industry

Hong Kong stock market disappoints as heavyweights fall and short-selling funds increase

Financial News Agency, December 8 (Editor Feng Yi) – The Hong Kong stock market closed with three major stock indexes continuing their decline today. The Hang Seng Index and the State-owned Enterprises Index fell by 0.07% and 0.31%, respectively, while the Hang Seng Technology Index saw a 0.38% decline.

Market analyses show that the trading volume for the entire day was only HK$88.367 billion, indicating a significant cooling down of sentiment. However, gaming stocks have bucked the trend by collectively rising, while short-term short-selling funds continued to increase their positions in heavyweight technology stocks.

In a grim turn of events, mainland real estate stocks have taken a hit as short-term negative news has concentrated on this sector. The China Index Research Institute has released a report forecasting a 4.9% year-on-year decrease in the national commercial housing sales area in 2024, leading to the suppression of domestic real estate stocks.

In addition, unresolved debt issues and postponement of the Hong Kong liquidation hearing of China Evergrande have weakened the market’s expectations for the follow-up of mainland property stocks. This has only exacerbated the situation for Chinese real estate stocks, which has experienced multiple negative overlaps in short-term data, fundamentals, and news.

Surprisingly, gaming stocks have managed to rise in the current market scenario. Institutions are generally optimistic about the industry’s continued recovery, especially with positive forecasts for Macau’s gaming revenue in December. Analysts predict a substantial recovery to 80% of pre-epidemic levels, driven by an increase in tourists visiting Macau via Hong Kong and Macau airports.

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The Financial Associated Press would like to warn readers that the content, data, and tools presented in this article do not constitute any investment advice. The stock market is inherently risky, and investors are advised to exercise caution when making investment decisions.

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