news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

on october 3, the hang seng index fell by 4%, the hang seng technology index fell by 7%, and some brokerage and real estate stocks plunged. however, the decline in hong kong stocks narrowed significantly in the afternoon, and the hang seng index once turned flat. as of the close, the hang seng index closed down 1.47%, ending its sixth consecutive rise, and the hang seng technology index fell 3.46%.

regarding the market fluctuations, many domestic private equity institutions said that they did not take a break during the holidays and were still closely tracking the dynamics of hong kong stocks. i believe that the bull market in hong kong stocks is not over yet. the market correction is a good thing for the long-term healthy development of the market. the allocation wave has just begun. it is expected that funds will continue to pour into the hong kong and a-share markets in the later period.

private equity institutions closely track hong kong stocks during the holidays

"during the national day holiday, we are still continuing to track hong kong stocks and observe the continued inflow of foreign capital." the person in charge of zhishun investment, a well-known private equity institution in beijing, said that before the national day, the company had been continuing to invest in a shares and hong kong stocks in both directions. buying is "like fighting". at the same time, there are positive expectations for the post-holiday opening, focusing on the direct direction and implementation of policies. in one sentence, a long bull trend can be established.

the above-mentioned people said that we are actively optimistic and bullish. the current market situation is based on the economic situation and a package of policy layouts as well as the long-awaited reversal of the market. it is also a rare opportunity, and we must seize the opportunity. judging from the rhythm, the policy will basically exceed expectations. let’s look at the emotional wave first, and then look at the fundamental wave.

not only zhishun investment, but also more private equity investors are in a state of nervousness and excitement as they closely track market dynamics during this national day holiday. the hong kong stock market and the chinese concept stock market have become the key areas of focus for private equity managers during this holiday season, with significant capital inflows from all parties.

in the u.s. stock market, etfs tracking chinese assets have performed particularly strongly. on october 2, u.s. time, the 3-time long ftse china etf-direxion (yinn) rose 21.81%, and the 2-time long csi 300 etf-direxion (chau) rose 15.23%. on tuesday local time, the kraneshares csi china internet etf (kweb) received an inflow of us$700 million, setting the largest single-day inflow.

a new report from goldman sachs said that before the recent rally, hedge funds had less than 7% of their investments in chinese stocks, about the lowest level in five years, but earlier this week they reversed course and piled into chinese stocks. the market recently recorded its largest single-day buying volume since march 2021 and the second-largest single-day net buying volume in the past 10 years.

in response to the recent surge in the chinese market, ray dalio, a well-known investor and founder of bridgewater associates, posted on monday that the latest series of policy shifts are an important step in stimulating creative productivity. considering that chinese assets are still very cheap, a large number of investors have entered the market to hunt for bargains.

the configuration wave has just begun

a new round of reallocation of domestic wealth to the stock market has just begun, and both a-shares and hong kong stocks are expected to benefit. according to statistics from the choice financial terminal, affected by the stronger rise in a-shares, the net inflow of southbound funds was 2.202 billion yuan from september 23 to 27, and tuesday, wednesday, and friday were all net sales.

on september 30, market funds accelerated their inflow into the hong kong stock market. on that day, the net purchase scale of southbound funds reached 12.1 billion yuan, a new stage high. the closing data of the day showed that the trading volume of hong kong stock-related etfs increased significantly. the largest hang seng internet etf (513330) had a trading volume of 307 million lots and a turnover of 14.2 billion yuan; the hang seng technology index etf (513180) had a trading volume of 188 million lots and a turnover of 14.2 billion yuan. 11.8 billion yuan, both transaction volume and transaction volume hit a record high since the fund was established, and together it ranked among the top ten in the domestic etf market in terms of transaction value.

zhang yidong, global chief strategist of industrial securities, believes that in the medium term, under the trend of reallocation of residents' wealth, industrial capital, insurance, and financial management funds to the chinese stock market, the allocation of domestic capital to a-shares and hong kong stocks will alternately increase.

in addition to domestic funds, the macro research team of huafu securities released a research report stating that judging from the latest marginal changes, overseas funds in hong kong stocks have begun to flow in net since september, and the net inflow of funds from international intermediaries has reached hk$39.6 billion since mid-to-late term. , exceeding the net inflow of southbound funds of hk$20.5 billion. the current hong kong stock market is still on its way, and there is still room for growth in the future. structurally, if international intermediary funds continue to flow back into the hong kong stock market, the growth sector represented by hang seng technology is expected to continue to dominate.

chen guo, chief strategist of citic construction investment, believes that the bull market in hong kong stocks is not over yet. the basis of the current bull market in hong kong stocks is that it has continued to bearish since 2021. even now, the valuation of hong kong stocks is still at a global low. the essence of the recent hong kong stock market and the a-share market is that the chinese stock market is a "confidence revaluation bull". strategically, we continue to be firmly optimistic about the chinese stock market, including hong kong stocks. the difference between hong kong stocks and a-shares is that some foreign investors previously misjudged that hong kong would become the site of asia's financial center. the risk-free interest rate of hong kong stocks is more affected by the fed's interest rate cut cycle. the valuation discount level of hong kong stocks relative to a-shares is still above the historical average. , and when foreign capital supplements the chinese stock market, hong kong stocks are an important or even preferred choice for many foreign capital in the value investment category.