Due to the New Year's Day holiday, there were only four trading days last week. Before the holiday, the $HSI(HSI)$ experienced a significant surge, fueling investors' high expectations.
However, in the past week, Hong Kong stocks faced both domestic and international pressures.
According to data released by the National Bureau of Statistics, the manufacturing PMI index for December was lower than expected. Additionally, the decline in sales remains high, according to the December sales data released by the top 100 real estate companies.
On the international front, the Federal Reserve released its meeting minutes last week, indicating that it has completed its interest rate hikes, but did not provide a timeline for rate cuts. As a result, the market has reduced its expectations for interest rate cuts in 2024, which triggered a correction in the US stock market.
Under these unfavorable circumstances, the Hang Seng Index fell for four consecutive days last week, with a weekly decline of 3%.
In terms of sectors, healthcare and information technology led the declines, while defensive sectors such as utilities and energy led the gains.
Taking advantage of the fall in Hong Kong stocks, southbound funds bought a net HK $14.4 billion last week:
Next week, key datas will be released in both China and the United States, which are expected to have a significant impact on capital markets.
Key Events in Hong Kong Stocks Last Week
1. $BYD Co., Ltd.(BYDDF)$ $BYD COMPANY(01211)$ $NIO Inc.(NIO)$ $NIO Inc.(NIO.SI)$ $NIO-SW(09866)$ $XPeng Inc.(XPEV)$ $XPENG-W(09868)$ $Li Auto(LI)$ $LI AUTO-W(02015)$ and other car companies announced sales data for December, of which BYD's annual sales exceeded 3 million;
2. $Alibaba(BABA)$ $Alibaba(09988)$ Alipay China is changed its status to have no actual controller;
3. The top 100 housing enterprises announced sales data for December, down 34.6% year-on-year, and the year-on-year decline remained at the highest level;
4. $Baidu(BIDU)$ $BIDU-SW(09888)$ canceled its acquisition of $JOYY Inc.(YY)$ ;
5. $EVERG VEHICLE(00708)$ announced that the share subscription Agreement and debt-for-equity subscription Agreement of Newtown Group have expired on December 31, 2023;
6. Hong Kong stock buyback HK $124.5 billion in 2023, a record high! $TENCENT(00700)$ $Tencent Holding Ltd.(TCEHY)$ contributed nearly HK $47.4 billion, accounted for nearly 40%;
7. Macau's gaming revenue jumped more than four times in December, and gaming stocks rose against the market;
8. Mixue Bingcheng and Guming submitted prospectuses to the Hong Kong Stock Exchange;
9. $Alibaba(BABA)$ $Alibaba(09988)$ reduced its holdings of $GOGOX(02246)$ $GOGOX HLDGS LTD(GGHLF)$ again;
10. Lei Jun said that $XIAOMI-W(01810)$ $Xiaomi Corp.(XIACY)$ 's cars are unmatched in the market at a price of 500,000 yuan;
11. High-dividend concept stocks soared;
12. The minutes of the Fed meeting indicated that the rate hike had been completed, but did not provide a timetable for rate cuts.
Three Stocks Worth Attention Among Top Trading HK Stocks Last Week
Top1: $TENCENT(00700)$ $Tencent Holding Ltd.(TCEHY)$ , after the draft of the new game regulations disturbed Tencent's stock price, the company significantly increased the daily repurchase amount, from the previous average HK $400 million to HK $1 billion, once driving the stock price back above HK $300;
Top4: $Alibaba(BABA)$ $Alibaba(09988)$ , the company reduced its holdings of $GOGOX(02246)$ $GOGOX HLDGS LTD(GGHLF)$ again, and asset disposal has accelerated;
Top5: $XPeng Inc.(XPEV)$ $XPENG-W(09868)$ , according to the sales data in December, Xpeng delivered 20,115 units in a single month, setting a new record. At the same time, Xpeng X, an MPV model, was released on New Year's Day, with good scheduled data.
This week's Hong Kong stock market events
1. On Wednesday, China's central bank will announce datas such as M2, new loans, and social financing scale. This is expected to have a significant impact on the stock market;
2. On Thursday, the United States will release CPI data for December, which Bloomberg economists predict to be 3.3%. Stay tuned to see if it exceeds expectations;
3. On Friday, China will release CPI data for December, focusing on whether negative growth. If deflation continues, it may have a negative impact on the stock market.
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