Hong Kong stocks are in danger of sitting on the 29th

Sino-US trade negotiations are not clear, the mainland’s export data last month was also poor, Hong Kong stocks were significantly frustrated yesterday, closing at 29,003 points, down 359 points, the market turnover recorded 107.6 billion yuan, The market rose by 11.1% last day. Hong Kong stocks fell 76% yesterday, up 24%, reflecting the overall market decline is quite comprehensive.

Blue chips are generally under pressure. AIA (1299) fell 1.7%; HSBC (005) fell 1.8%; ICBC (1398) fell 1.6%; CCB (939) fell 1.9%; HKEx (388) only earned 1.8% in the first quarter, down 1.6 Fortunately, Tencent (700) supported the market, Tencent’s new mobile game “Peace Elite” was tested, closing at 1.1% against the market, outperforming a group of blue chips and state-owned enterprises.

The mainland’s export data was weak last month. Coupled with the disappointment of the Sino-US trade talks, the export stocks were under pressure. The main export products went to the United States (2006), which fell 4.4%, underperforming a number of blue chips; Min Hua (1999) ) fell 1%; Minth (425) fell 3%; VTech (303) fell 0.9%; Nexteer (1316) fell 1.2%.

Gold price has support against the market

The funds continued to be pour into the gold to hedge, and the price of gold once rose to $1,288. The gold mining stocks were generally well established. Shandong Gold (1787) rose 4.5%, and recorded three consecutive rises; Zhaojin (1818) rose 2.4%; SPDR Gold ETF (2840) also rose 0.3%; China Gold International (2099) rose 1.3%; but Zijin (2899) Drop 1%.

Huang Minshuo, director of Baoju Securities, said that the intention to enter the market is not very large, and this situation is believed to continue until the end of this week. Wait until the end of the trade negotiation meeting, advance the results, and then consider further deployment. After the market trend, it is not excluded that there is room for downward adjustment. The larger support level is believed to be at 28400 to 28300.