NIO Down 12%, Alibaba Down 4%: Hong Kong Stocks Surrender Part of Rally As China Recovery Stirs Inflation

South China Morning Post2023-03-02

‘Reopening-sensitive sectors’ are likely to add to headline inflation as China’s post-Covid recovery may differ from other typical business cycles: GoldmanMarket is focused on the `Two Sessions’ as ...

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Comment（7）

overdrive
·2023-03-02
Economy goes down leads the stocks drops, Economy recovery leads the stock drops. What should the Economy do?
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3
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- ClarenceNehemiah:
  Maybe just stay at here or take short on market?
  2023-03-02
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- BerniceCarter:
  The key point should be the forecast of the market, which needs to be bullish.
  2023-03-02
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valentia
·2023-03-02
Rollercoaster ride
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4
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MGHuat
·2023-03-02
ok
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4
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Simonnov
·2023-03-02
Ic
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5
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Danielng
·2023-03-02
Fark journalists and analysts. Always able to find negative news.
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9
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Chris68
·2023-03-02
ok
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7
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- Chris68:
  Ok
  2023-03-02
  Reply
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Andrewinho
·2023-03-02
Great!! 👏👏👏
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Photo: Peggy SitoHong Kong stocks dropped amid concerns a stronger than expected recovery in China’s economy will stoke inflation and limit the room for policymakers to inject fresh stimulus.The Hang Seng Index lost 0.8 per cent to 20,459.34 at 11.04am local time. The Tech Index retreated 1.5 per cent, while the Shanghai Composite Index gained 0.1 per cent.Alibaba Group slipped 4.2 per cent to HK$88.05, JD.com tumbled 2.8 per cent to HK$178.10 and Baidu dropped 2.6 per cent to HK$141.20. Budweiser sank 2.6 per cent to HK$24.50 after reporting a net loss in the fourth quarter. Country Garden slipped 1.9 per cent to HK$2.55, after founder Yeung Kwok-keung resigned from the board.Local stocks surged 4.2 per cent on Wednesday as manufacturing and services reports underpinned the China recovery play. The market had earlier lost more than 10 per cent since January 27 in a technical correction, as investors worried Beijing would refrain from injecting more stimulus as growth surprised to the upside.To reverse recent declines, the market now needs more policy support and better economic and corporate earnings momentum, Goldman Sachs strategist Timothy Moe said in a note on Wednesday.“Reopening-sensitive sectors” represent the most upside risk to inflation in mainland China this year, the US bank said last month, as the post-Covid recovery may differ from typical business cycles. Policymakers are unlikely to unleash strong stimulus in the housing market to put a lid on surging rent inflation, it added.Elsewhere, stronger vehicle sales in China last month failed to light a spark in auto stocks. BYD retreated 0.6 per cent to HK$223.00 after reporting a 85 per cent jump in sales. Similarly, peers Li Auto, Xpeng and Nio slid 1.5 to 12.4 per cent as analysts said the strength of market recovery remains to be seen.Asian markets rose on Tuesday, with benchmark indexes in South Korea and Australia adding 0.2 to 0.5 per cent and Nikkei 225 in Japan little changed.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9940198332,"gmtCreate":1677736924126,"gmtModify":1677737797123,"author":{"id":"3573722808792690","authorId":"3573722808792690","name":"overdrive","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3573722808792690","authorIdStr":"3573722808792690"},"htmlText":"Economy goes down leads the stocks drops,&nbsp;Economy recovery leads the stock drops. What should the Economy do?","listText":"Economy goes down leads the stocks drops,&nbsp;Economy recovery leads the stock drops. What should the Economy do?","text":"Economy goes down leads the stocks drops, Economy recovery leads the stock drops. What should the Economy do?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9940198332","repostId":1137780338,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":105926882,"gmtCreate":1677743286638,"gmtModify":1677743289894,"authorId":9000000000000650,"author":{"id":9000000000000650,"idStr":"9000000000000650","authorId":9000000000000650,"name":"ClarenceNehemiah","avatar":"https://static.tigerbbs.com/5fee988f6e6e3c043a31a7e8992655c4","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9940198332,"type":1,"supId":0,"prevId":0,"content":"Maybe just stay at here or take short on market?","text":"Maybe just stay at here or take short on market?","html":"Maybe just stay at here or take short on market?"},{"id":105926879,"gmtCreate":1677743257086,"gmtModify":1677743260572,"authorId":9000000000000684,"author":{"id":9000000000000684,"idStr":"9000000000000684","authorId":9000000000000684,"name":"BerniceCarter","avatar":"https://static.tigerbbs.com/043a4785c03f3218364bbe4043176dbc","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9940198332,"type":1,"supId":0,"prevId":0,"content":"The key point should be the forecast of the market, which needs to be bullish.","text":"The key point should be the forecast of the market, which needs to be bullish.","html":"The key point should be the forecast of the market, which needs to be bullish."}],"langContent":"EN"},{"id":9940190495,"gmtCreate":1677735003617,"gmtModify":1677735008145,"author":{"id":"4116569270341752","authorId":"4116569270341752","name":"valentia","avatar":"https://community-static.tradeup.com/news/64f8204fb4e5976eb0c1960943ccb2a2","vip":1,"crmLevel":4,"crmLevelSwitch":1,"idStr":"4116569270341752","authorIdStr":"4116569270341752"},"htmlText":"Rollercoaster ride&nbsp;","listText":"Rollercoaster ride&nbsp;","text":"Rollercoaster ride","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9940190495","repostId":1137780338,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9940105168,"gmtCreate":1677732959355,"gmtModify":1677732963388,"author":{"id":"3572388238861982","authorId":"3572388238861982","name":"MGHuat","avatar":"https://static.tigerbbs.com/bd2cbc6e014ed9c700e2d9cd01ae2b08","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3572388238861982","authorIdStr":"3572388238861982"},"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9940105168","repostId":1137780338,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9940103077,"gmtCreate":1677729674099,"gmtModify":1677729677457,"author":{"id":"4097750438225520","authorId":"4097750438225520","name":"Simonnov","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4097750438225520","authorIdStr":"4097750438225520"},"htmlText":"Ic","listText":"Ic","text":"Ic","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9940103077","repostId":1137780338,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9940375717,"gmtCreate":1677727139640,"gmtModify":1677727143329,"author":{"id":"3567242381966976","authorId":"3567242381966976","name":"Danielng","avatar":"https://community-static.tradeup.com/news/5cd5b4aefd2b0994474d489d4d1c2904","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":7,"crmLevelSwitch":1,"idStr":"3567242381966976","authorIdStr":"3567242381966976"},"htmlText":"Fark journalists and analysts. Always able to find negative news.","listText":"Fark journalists and analysts. Always able to find negative news.","text":"Fark journalists and analysts. Always able to find negative news.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9940375717","repostId":1137780338,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9940375499,"gmtCreate":1677727054011,"gmtModify":1677727057649,"author":{"id":"3575974639321365","authorId":"3575974639321365","name":"Chris68","avatar":"https://static.tigerbbs.com/1ae39a12c3ba237f3b001689ec9a549b","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3575974639321365","authorIdStr":"3575974639321365"},"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9940375499","repostId":1137780338,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":105924402,"gmtCreate":1677727061459,"gmtModify":1677727064727,"authorId":3575974639321365,"author":{"id":3575974639321365,"idStr":"3575974639321365","authorId":3575974639321365,"name":"Chris68","avatar":"https://static.tigerbbs.com/1ae39a12c3ba237f3b001689ec9a549b","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9940375499,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">Ok</span>","text":"<span class=\"s1\">Ok</span>","html":"<span class=\"s1\">Ok</span>"}],"langContent":"EN"},{"id":9940375346,"gmtCreate":1677726749886,"gmtModify":1677726752792,"author":{"id":"3581563418944392","authorId":"3581563418944392","name":"Andrewinho","avatar":"https://static.tigerbbs.com/3127e2bc40ab23064a5187a00a63e19b","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581563418944392","authorIdStr":"3581563418944392"},"htmlText":"Great!! 👏👏👏","listText":"Great!! 👏👏👏","text":"Great!! 👏👏👏","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9940375346","repostId":1137780338,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":114,"commentSize":7,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false}}