Hong Kong stocks experienced a much-needed rally, offering investors a temporary sense of relief as the $HSI(HSI)$ rebounded last week. After dipping below the 16,000 points, the market managed to notch a weekly gain of 2.8%.
On the news, there have been many major events last week, and the domestic has released a number of economic data for November, which have been mixed and failed to become a turning point in the market.
Overseas, the U.S. November CPI data released last week is in line with expectations, and the Federal Reserve's interest rate meeting unexpectedly released pigeons, the dot plot suggests that there may be three interest rate cuts in 2024, which surpassed market expectations. Us stocks rose sharply and the $DJIA(.DJI)$ hit an all-time high.
Affected by the Federal Reserve's heavy positive impact, Hong Kong stocks withstood the continuous decline of A shares and rose against the trend. By sectors, most sectors rose, led by the Internet and healthcare, which are more sensitive to interest rates:
Southbound funds continue to sell high and absorb low. Despite the sharp rise in the Hang Seng Index last week, there was a net outflow of nearly HK $10 billion against the trend. I have to say that at 16000 points, domestic investors are still timid and dare not hold on for a long time:
Key Events in Hong Kong Stocks Last Week
1. $LI NING(02331)$ $Li Ning Co., Ltd.(LNNGF)$ plans to buy Jiangsu Hengdi Group's Hong Kong North Point property, Port Huidong, for HK$2.2 billion to use as the Hong Kong headquarters, causing the share price to plummet, and then announcing a HK $3 billion buyback plan;
2. The $HSI(HSI)$ briefly fell below the 16,000 mark on Monday.
3. $COUNTRY GARDEN(02007)$ $Country Garden Holdings Co., Ltd.(CTRYF)$ 's senior management has taken a substantial salary cut, with Yang Huiyan's annual salary reduced from 370,000 yuan to 120,000 yuan;
4. A total of 186 companies in the Hong Kong stock market have repurchased since the beginning of this year, and the cumulative repurchase amount has reached HK $111.366 billion, hitting a record high;
5. The sales volume of new energy vehicles in November was 1.026 million, an increase of 30% year-on-year, according to data released by the China Automobile Association;
6. It is rumored online that $XIAOMI-W(01810)$ $Xiaomi Corp.(XIACY)$ will hold a car press conference on the 28th of this month, which was subsequently refuted by the company;
7. The Central Economic Work Conference held last week announced a number of favorable policies;
8. $XIAOMI-W(01810)$ $Xiaomi Corp.(XIACY)$ Auto appears in the list of exemption from vehicle purchase tax;
9. $EAST BUY(01797)$ broke out essay crisis, fans plummeted and stock prices plummeted;
10. Us CPI rose 3.1% year-on-year in November, in line with market expectations;
11. The Federal Reserve expects to cut interest rates three times in 2024.
Five Stocks Worth Attention Among Top Trading HK Stocks Last Week
Top2: $XIAOMI-W(01810)$ $Xiaomi Corp.(XIACY)$ , Xiaomi car has made a lot of progress last week. First, the market rumors that the company will hold a car conference on the 28th of this month, although the rumor was refuted, the company admitted that it had considered holding it on that day; Second, Xiaomi appeared on the vehicle purchase tax exemption list last week. Xiaomi shares soared 9.3% in a week on the news of car building and the pick-up in mobile phone sales.
Top5: $YAN PALACE(01497)$ , the first share of cubilose landed on the Hong Kong Stock Exchange last week, and rose nearly 10% on its first day of listing.
Top6: $EAST BUY(01797)$ , the company broke out essay crisis last week, Dong Yuhui fans and management conflict, resulting in a sharp fall in stock prices.
Top7: $COUNTRY GARDEN(02007)$ $Country Garden Holdings Co., Ltd.(CTRYF)$ , Beijing, Shanghai and other first-tier cities relaxed purchase restrictions last week, driving up the real estate stocks.
Top9: $SCHOLAR EDU(01769)$ , the education stock performance bright last week. The agency said the education policy sent an optimistic signal and was optimistic about the growth of the company's education business.
This week's Hong Kong stock market events
1. Next Wednesday, the People's Bank of China will release the loan market quoted interest rate (LPR) for December, watching whether interest rates will be cut unexpectedly.
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