The US Congress passed the Hong Kong Act, and the progress of Sino-US trade negotiations is unclear
The Hang Seng Index once rushed to a maximum of 583 points, which is the “most hurt” market in the region. Later, foreign media quoted Chinese Vice Premier Liu He as saying that the cautious optimism about Sino-US trade negotiations made the market’s decline stabilized. The decline narrowed to 422 points, closing at 26,466 points and closing at 75.5 billion yuan. Market participants said that the previous Alibaba (9988) IPO did not rule out the funds to come to Hong Kong to “catch the market”. Now that Ali’s offerings have settled, the funds have been withdrawn and the market has naturally fallen sharply.
Pang Baolin, managing director of Dongpu Fund, pointed out that the market is worried about the changes in Sino-US negotiations
In particular, US President Trump said that the trade negotiations were not in line with expectations, which dragged down the external market and affected the natural extension to Hong Kong stocks. He believes that even if there is capital outflow, Hong Kong stocks will still have strong support at 26,000 points. After Ali’s listing, it will attract other funds to absorb, so he is confident that the market will return to over 27,000 points next week. It is now an opportunity to “sell goods”.
Analysts expect MTR to continue
The H-Share Index fell 1.6% against the market and closed at 10,450 points. The MTR announced yesterday that the number of passengers in October this year was only 108 million, a drop of about 25% compared with 145 million in the same period last year. Mainly due to the impact of violent protesters at various MTR stations since August, the MTR needs to pick up cars early. Many people have switched to other public transport.
The MTR closed down 1.1% yesterday at 43.3 yuan. Analysts believe that in addition to passenger traffic, the rents of shops along the MTR will also fall sharply, and the repair work at the station is also a considerable expenditure, plus the violent attack is not completed, the MTR Will continue to linger.
Ali’s IPO was completed, Tencent (0700) fell 1.9%, CCB (0939) fell 2%, AIA (1299) and HSBC (0005) each fell 1.4% and 1%, and China Mobile (0941) fell to 61 yuan. It is more than a 10-year low, and heavyweights can be described as “joining” to push down the market.
Among the blue chips, only Want Want (0151) and Hengan (1044) are in the doldrums, and trade-related stocks have become the hardest hit. Haoyu (2382) and AAC (2018) fell 4.2% and 3.8% respectively, which were the two biggest blue chips. The pressure on new economic stocks also increased. Ping An Good Doctor (1833) was reduced by major shareholders, and its share price plummeted nearly 12%. Meituan (3690) also fell 5.6% before its performance. In addition, retail stocks Salsa (0178) and Vitasoy (0345), after the release of results, the decline has intensified.
Yashiwei (1993), which was listed on the ants’ gold stocks and plans to spin off the business, became a counter-market. The stock price once plunged twice, and the market closed up nearly 20% to 5.59 yuan, but the turnover was only about 10 million. It is in the state of “dry up”.