Market Analysis | SWHYHK opened high and fell in the afternoon, diving more than 15%. The cumulative increase in the past three days still exceeds 2 times
SWHYHK opened high in the morning session but continued to decline, with a sharp drop in the afternoon, falling more than 15% at one point. As of the time of publication, it has dropped by 5.65%, trading at HKD 2.84 with a turnover of HKD 2.24 billion. It is worth noting that the stock has accumulated a gain of over 200% in the past three days. On the news front, influenced by the continuous rebound of the A-share market and the busy business of major securities firms during the National Day holiday, Edmund Hui, the CEO of one of the largest local securities firms in Hong Kong, Huitong Securities, stated that the business of opening accounts has seen a huge growth, with many customer service staff canceling their holidays and being on standby 24 hours a day to cope with an unprecedented surge in customer inquiries. Vincent Chow, head of the Capital Markets Department in the Asia-Pacific region at Citigroup, pointed out that the Fed's rate cut has led to a decline in Hong Kong interest rates, coupled with China's mainland launching a series of large-scale market rescue measures, which can be considered as a combination of favorable timing and location. If these factors can drive sustained economic recovery in the mainland, it is expected to boost the market recovery. It is anticipated that the Hong Kong new shares (IPO) market may return to the bull market of three to four years ago next year
According to the information from the Wise Finance APP, Shenwan Hongyuan Hong Kong (00218) opened high in the morning but continued to decline, with the stock price plummeting in the afternoon, dropping more than 15% at one point. As of the time of writing, it has fallen by 5.65% to HKD 2.84, with a turnover of HKD 2.24 billion. It is worth noting that the stock's cumulative increase in the past three days still exceeds 200%.
On the news front, influenced by the continuous rebound of A-share markets and the busy business of major securities firms during the National Day holiday, Edmund Hui, the CEO of one of the largest local securities firms in Hong Kong, Huitong Securities, stated that the business of opening accounts has seen a significant growth. Many customer service staff have canceled their holidays and are on standby 24 hours a day to cope with an unprecedented surge in customer inquiries.
Zhou Weiming, head of the Capital Markets Department in the Asia-Pacific region at Citigroup, pointed out that the Fed's rate cut has led to a decline in Hong Kong interest rates. Coupled with a series of large-scale market rescue measures introduced by the mainland of China, it can be considered a combination of favorable timing and location. If these factors can drive sustained economic recovery in the mainland, it is expected to boost the market recovery. It is anticipated that the Hong Kong IPO market may return to the bull market of three to four years ago next year