Hong Kong stocks pull back, with the Hang Seng Technology Index falling more than 5%, while some brokerages and real estate stocks take a dive
Kaisa Group, CHINA AOYUAN, SHIMAO, SUNAC and other real estate stocks collectively plunged, with SHIMAO dropping by over 20%. Analysts from Morgan Stanley pointed out in a report dated Wednesday that the current valuation levels of real estate stocks already reflect a similar operating environment to before the Evergrande crisis erupted, which is unreasonable
On Thursday, October 3, A-shares continued to be closed for the holiday, while Hong Kong stocks opened lower and trended lower after rising for several consecutive days.
【10:10】
The Hang Seng Tech Index fell by over 5%, while the Hang Seng Index dropped by nearly 3%. JD Health and XPeng both fell by nearly 8%.
【9:47】
The Hang Seng Tech Index dropped by over 4%, with some brokerage firms and real estate stocks plummeting. Kaisa Group, China Aoyuan, Shimao, Sunac, and other real estate stocks collectively experienced significant declines, with Shimao falling by over 20% and CITIC Securities dropping by over 12%. Analysts from Morgan Stanley pointed out in a report dated Wednesday that the current valuation level of real estate stocks already reflects a business environment similar to that before the Evergrande crisis, which is unreasonable.
The SSE STAR Market 50 ETF experienced significant short-term volatility, currently still up by over 9%.
Most Hong Kong-listed automotive stocks trended lower, with XPeng falling by 9%.
Shenwan Hongyuan Hong Kong surged by nearly 60%