© Reuters. The Hang Seng Technology Index regained the 4,000-point mark. Beishui is back?Substantial purchase of more than 7 billion
Investing.com – On Wednesday (28th), the Hong Kong stock market fluctuated and closed up. The Hang Seng Index recovered its initial losses and rose slightly by 0.12%. The Hang Seng Technology Index closed up 0.75%, but fell more than 1% in the morning market.
Although US stocks rose yesterday, the risk of gaming between the world‘s two largest economies dampened market sentiment. Meanwhile, markets await tonight’s speech by Fed Chairman Jerome Powell and the release later this week of the Fed’s favorite inflation gauge, the PCE price index.
In addition, the turnover of Hong Kong stocks has shrunk further. The turnover of the Hang Seng Index today was 75.463 billion, compared with 91.688 billion in the previous trading day; It once sold a large amount of 7.3 billion.
As of market close:
It rose 0.12% to 19172.049 points; rose 0.07% to 19,072.0 points; rose 0.75% to 4001.97 points; rose 0.26% to 6521.22 points.
New energy vehicles are on the rise. Weilai (HK:) (NYSE:) rose 7%, Xiaopeng Motors (HK:) (NYSE:) rose 11%, Ideal Auto (HK:) (NASDAQ:) rose 2.7%, Leap Motors (HK: ) rose 4%.
Power stocks continued to rise, China Resources Power (HK:) rose 1%, Huaneng Power International (HK:), Huadian International Power (HK:) rose about 3%.
Some pharmaceutical stocks fell, Luye Pharma (HK:) fell 10%, Ascletis Pharma-B (HK:) fell 7%, United Laboratories (HK:) fell 4%, and China Biopharma (HK:) fell 2.5%.
Technology stocks were mixed, Tencent Holdings (HK:)(OTC:) fell 1.5%, Alibaba (HK:)(NYSE:) fell 1.2%, Meituan (HK:) rose 0.7%, Kuaishou (HK:) rose 0.9%.
Huatai Securities stated in its mid-term strategy report that the liquidity of Hong Kong stocks “the long-term trend remains unchanged, and the entry of short-term incremental funds still awaits positive signals.”
Analysts pointed out that “under the benchmark scenario, the interest rate difference between China and the United States is difficult to rise / the dollar index’s decline is limited or a sign of23H2 Hong Kong stock capital is still biased towards stocks, Sino-US relations are expected to improve + the high cost performance of Hong Kong stocks in emerging markets may promote foreign capital allocation to Hong Kong stocks to usher in a decompression benefit, and the entry of incremental funds may still need to wait for more positive signals. “
However, the report also pointed out that “the introduction of the dual-counter system is expected to promote the long-term inflow of domestic and foreign capital into Hong Kong stocks; in addition, under the catalysis of the “Belt and Road Initiative”, China may become the preferred allocation of sovereign wealth funds of Middle Eastern countries. incremental capital allocation. From a short-term perspective, the high AH premium guides southward allocation of Hong Kong stocks, especially the new economic sector; low PE/PB may indicate that the Hong Kong stock repurchase market is more active. “
[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