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hong kong stocks are “going crazy.” the recent favorable policies introduced by the mainland have not only stimulated a-shares, but also brought a new round of growth to the hong kong stock market.

recently, a-shares surged but the market was closed during the national day. “because a-shares don’t want to take a holiday for the first time” was a hot search topic.as the a-share market is closed during the national day holiday, investors who do not want to miss this round of market conditions have set their sights on hong kong stocks.

hang seng index hits 2-1/2-year high

hong kong stocks resumed their upward trend on october 4. the hang seng index broke through the stage high set on october 2 in late trading and stood at 22,700 points.it finally reported 22736.87 points, a new high since march 2022., closing up 2.82%.

the hang seng technology index closed up 4.99%. semiconductor stocks soared, with hongguang semiconductor rising by more than 285%, solomon systech rising by 70%, and huahong semiconductor and smic rising by nearly 30%.

chinese brokerage stocks continued their strong performance, with zhongzhou securities rising more than 29%, shenwan hongyuan rising more than 25%, and guolian securities rising more than 27%.

some investors were "failed" to open accounts in hong kong

the bank closes one hour later

the "national day" holiday has begun, but the a-share market that had been "rising" in the past few days was suddenly put on a 7-day pause button. in a wechat group chat, some investors were impatiently waiting for the market to open.as a result, hong kong stocks, which do not have a holiday during the national day, have become a new choice for many investors.

on social media platforms, some netizens said, "during the national day, i moved to hong kong." others said, "three hong kong stock brokerages opened in one day." more netizens shared various strategies for opening accounts in hong kong.

"i heard that someone came here to open a securities account." a hong kong insurance agent told reporters, "there have been so many people coming here during the national day recently, so it is difficult to make an appointment. many people choose to walk in (queue at the bank temporarily). if you don't have an appointment, you have to come early in the morning." , different banks have different difficulty levels, and you may not be able to open it.”

"there are so many people, there are queues everywhere, and the banks are closing one hour late." a staff member of a bank in hong kong told reporters, "i am responsible for helping customers purchase insurance, but the customers have also opened securities accounts."

according to hong kong media reports, phillip securities, one of the largest local securities firms in hong kong, has experienced huge growth in its account opening business.many customer service employees have canceled their vacations and are on call 24 hours a day. the number of tiger brokers' account openings surged by 73.4% last week, and the number of active users of its mobile app also increased by 10% year-on-year.

futu holdings, one of hong kong's largest online brokerages, said that the number of account opening inquiries last week was 40% higher than usual, the stock trading volume on futu's online platform increased by 95% from the previous week, and the number of investors increased by 60%.

analysts’ latest research and judgment

chen jiahe, chief investment officer of beijing jiuwan qingquan technology co., ltd., believes that the hong kong stock market in the past two days has actually been much stronger than expected, and the correction yesterday (october 3) was actually expected. "because the hong kong stock market is a market with a t+0 mechanism, things often fall into place in one day. there was a correction yesterday morning, which i thought was normal, but it turned out to be a pullback again that afternoon, and thenit continues to rise today. this trend is actually stronger than we thought., i think one reason may be that foreign investors saw a large number of new account openings during the domestic holidays, as well as a large number of subscriptions for public funds before. from a trading perspective, if you see that your opponent wants to buy in a few trading days, the best way is to make a plan now. this explains why hong kong stocks have been so strong in the past two days. "

zhang yidong, global chief strategist of industrial securities, said,the shock in the hong kong stock market has just come, which just proves the reversal logic, rather than a short-lived rebound.. in october, hong kong stocks and a-shares are expected to turn from the recent short-squeeze rebound into a more sustained shock reversal.

huafu securities said that the outstanding performance of chinese assets represented by hong kong stocks is on the one hand the frequent introduction of various domestic favorable policies, which has greatly boosted market confidence; on the other hand, the federal reserve cut interest rates in september, and the global liquidity environment is in the marginal area loose. therefore,hong kong stock prices are still on the way, and there is still room for growth in the future, 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.

huatai securities also said that in the absence of hong kong stocks in the southbound direction, the return of foreign investment allocations (especially passive index-based foreign investment institutions) played an important funding role. with the rapid increase in real estate policies, chinese assets have continued to "catch up" with global equity, maintaining the judgment that mid-october is the window period for offensive market conditions.