China News Service, Hong Kong, November 19 (Reporter Wang Jiacheng) Hong Kong’s Hang Seng Index undertook the previous two-day decline on the 19th, opening 385 points lower, falling below the 25,000 point mark, and reporting 24934 points; then the decline narrowed, reaching a maximum of 25,077 points throughout the day. ; At one time, it fell by nearly 500 points during the intraday session and was as low as 24825 points. Finally, it closed down 169 points to 25049 points, a decrease of 1.07%. Market turnover was 136.5 billion yuan (HK$, the same below).
The Hang Seng China Enterprises Index fell 65 points to 8,970 points, a decrease of 0.7%. The Hang Seng Technology Index fell 16 points to 6,457 points, a decrease of 0.3%.
Summarizing the whole week, the Hang Seng Index first rose and then fell, falling 278 points, or 1.1%. The China Enterprises Index fell 143 points, or 1.6%. The technology index fell 107 points, or 1.6%.
In terms of focus sectors, large technology and Internet stocks led the decline. Alibaba’s performance was worse than expected, and its target price was lowered by major banks. It plummeted by 10.7% throughout the day and fell below 140 yuan, making it the blue chip with the biggest drop on the day. Meituan fell 1.6%; Tencent fell 0.1%. The total revenue of JD.com in the third quarter increased by 25.5% year-on-year, and it bucked the trend and soared by 9%. The market looked forward to its chance to “dye blue”.
The Hang Seng Index will announce the latest quarterly review results after the market closes on the same day. The number of constituent stocks in the Hang Seng Index will eventually increase from 60 to 64. As expected by the market, JD.com is one of the four new blue-chip stocks, and the other three are China Resources Beer, ENN Energy and NetEase. Among them, JD has the heaviest weight, 1.54%; ENN Energy 0.81%; China Resources Beer 0.78%; NetEase 0.67%. The weights of Meituan, Tencent and Alibaba each fell to 8%.
The number of constituent stocks in the HSCEI remained unchanged at 50, but China Evergrande was removed and Cinda Biopharmaceuticals joined. The constituent stocks of the Hang Seng Technology Index remained unchanged, and the number of constituent stocks remained at 30. All changes will take effect on December 6, 2021.
Guo Sizhi, vice chairman of the Hong Kong Stock Analysts Association, predicts that Hong Kong stocks will temporarily maintain a “up and down” pattern, which is expected to fluctuate in the range of 24,800 to 25,500. But unlike earlier, the stock market fell across the board. It depends on individual stocks. For example, even though Alibaba lost more than 10% that day, JD.com hit a new one-month high. In other words, if the company itself performs better and there are no adverse external factors, the stock price performance is relatively not bad.
He said that some funds have begun to “paint the window”, that is, the strategy used by fund managers before the end of the quarter or the year, the purpose is to beautify the portfolio of positions and show clients the good performance of the fund. Therefore, the market should not fall too much in the future, and individual stocks will perform slightly stronger. However, as the overall turnover of the stock market has been weak, even if there is a slight rebound, it is believed that there will be volatility but no increase, and there will be a rebound but no big increase. (over)Return to Sohu to see more
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