Understanding the Market | HSTECH's decline once expanded by more than 14%, previously accumulated a rise of over 13.36% during the National Day holiday, heavyweight technology stocks all plummeted
Hengke Index widened its decline by more than 14% in the morning session, falling below 4700 points intraday. It is worth mentioning that during the previous National Day holiday, the Hengke Index accumulated a 13.36% increase. Technology stocks plummeted across the board, with Alibaba-W dropping by 9.6% to HKD 103.5, and Tencent falling by 7.4% to HKD 443. On the news front, CICC International previously pointed out that funds flowed into Hong Kong stocks during the A-share market closure period, and Hong Kong stocks recorded significant gains in the past 4 trading days, while the A-share market is expected to rise upon resumption, the ability of Hong Kong stocks to follow suit remains uncertain, as they have already risen significantly in advance. It is not ruled out that A-shares may rise tomorrow upon resumption while Hong Kong stocks profit-taking, so the real test for Hong Kong stocks will be tomorrow. This morning, the State Council Information Office held a press conference, where officials from the National Development and Reform Commission introduced the situation regarding the "comprehensive implementation of incremental policies to promote the upward structural optimization of the economy and the sustained improvement of the development trend." Previously, with the implementation of new policies such as reserve requirement ratio cuts, interest rate cuts, and reduction of existing home loan rates, many experts are looking forward to fiscal measures related to incremental policies
According to the Wise Finance APP, the Hengtech Index widened its decline by more than 14% in early trading, falling below 4700 points during the session. It is worth mentioning that during the previous National Day holiday, the Hengtech Index had accumulated a 13.36% increase. Technology stocks plummeted across the board, with Alibaba-W (09988) falling by 9.6% to HKD 103.5, and Tencent (00700) dropping by 7.4% to HKD 443.
On the news front, CICC International recently pointed out that funds flowed into Hong Kong stocks ahead of the A-share market closure, and Hong Kong stocks have recorded significant gains over the past 4 trading days. While an upward trend is expected in the A-share market upon resumption of trading, whether Hong Kong stocks will follow suit remains uncertain, given their significant advance during this period. It is not ruled out that A-shares may rise tomorrow upon resumption while Hong Kong stocks may see profit-taking, making tomorrow a real test for Hong Kong stocks.
This morning, the State Council Information Office held a press conference where officials from the National Development and Reform Commission introduced the situation regarding the "comprehensive implementation of a package of incremental policies to solidly promote the improvement of economic structure and development momentum." Previously, with the implementation of new policies such as reserve requirement ratio cuts, interest rate cuts, and reduction of existing home loan rates, many experts have been anticipating fiscal measures to be introduced