Recently, A-shares have skyrocketed but the market has been closed on National Day, "because A-shares don't want to take a holiday for the first time" once rushed to the hot search. With the closure of A-shares during the National Day holiday, investors who do not want to miss this round of market have set their sights on Hong Kong stocks.
Along with A-shares, Hong Kong stocks have also entered a round of rising market recently. Since September 24, the Hang Seng Index of Hong Kong stocks has risen by 21.19%, returning to more than 22,000 points.
On October 4, Hong Kong stocks opened slightly lower, and then fluctuated in a narrow range and turned red, showing a trend of first suppressing and then rising. As of the lunch break, the Hang Seng Index rose 1.75%, the State-owned Enterprises Index rose more than 2%, and the Hang Seng Technology Index rose 3.54%.
Some investors "fly" to open accounts in Hong Kong
Banks are one hour late
The "Eleventh" holiday opened, but the A-shares, which had "risen wildly" a few days ago, were suddenly pressed the 7-day pause button. In the WeChat group chat, some shareholders can't wait for the opening. As a result, Hong Kong stocks with "no National Day holiday" have become a new choice for many shareholders.
On social media platforms, some netizens said that "during the National Day, they will move to Hong Kong", some netizens said that "within one day, three Hong Kong stock brokerages will be opened", and more netizens are sharing various strategies for opening accounts in Hong Kong.
"I heard that someone came to open a securities account." A Hong Kong insurance agent said, "Recently, too many people have gathered to come to the National Day, so it is difficult to make an appointment, and many people choose Walk in (queue up at the bank temporarily)." If you don't have an appointment and come early in the morning, the difficulty of different banks is different, and you may not be able to open it. ”
"It's all people, there's queues everywhere, and the banks are an hour late." A staff member of a bank in Hong Kong told reporters, "I am responsible for helping customers buy insurance, but customers have also opened securities accounts." ”
According to Hong Kong media reports, Phillip Securities, one of the largest local brokerages, has seen a huge increase in the business of opening accounts, with many customer service staff canceling their holidays and being on call 24 hours a day. Tiger Brokers saw a 73.4% surge in account openings last week, and the number of active users of the mobile app also increased by 10% year-on-year.
Futu Holdings, one of Hong Kong's largest online brokers, said that the number of account opening inquiries last week was 40% higher than usual, and the stock trading volume of Futu's online platform increased by 95% from the previous week, and the number of investors increased by 60%.
Since the "924" New Deal,
The Hang Seng Index rose 21.19%
Behind the investors who have gone to open accounts, Hong Kong stocks have also "gone crazy". The recent introduction of favorable policies by the mainland has not only stimulated A-shares, but also brought a new round of growth to the Hong Kong stock market.
On the news side, the Central Financial Office and the China Securities Regulatory Commission jointly issued the "Guiding Opinions on Promoting the Entry of Medium and Long-term Funds into the Market", proposing three main measures: building and cultivating a capital market ecology that encourages long-term investment; vigorously develop equity public funds and support the steady development of private securities investment funds; Efforts should be made to improve the supporting policies and systems for all kinds of medium and long-term funds to enter the market.
In terms of real estate, a number of recent measures have been taken to support the stability of the property market. These include reductions in bank reserve ratios and bank interest rates, as well as adjustments to land, fiscal and monetary policies. At the same time, first-tier cities such as Shanghai, Guangzhou, Shenzhen and Beijing have relaxed their real estate purchase restrictions, which has further stimulated market sentiment and strengthened investors' confidence in the recovery of the real estate sector.
Since September 24, the Hong Kong Hang Seng Index has risen by 21.19%, back to more than 22,000 points, and closed at 22,113.51 points as of October 3. On October 4, Hong Kong stocks opened slightly lower, and then fluctuated in a narrow range and turned red, showing a trend of first suppressing and then rising. As of the lunch break, the Hang Seng Index rose 1.75%, the State-owned Enterprises Index rose more than 2%, and the Hang Seng Technology Index rose 3.54%.
Institution:
The Hong Kong stock market is still on the way
Volatility will increase in the future
For the future trend of Hong Kong stocks, many institutions pointed out that the volatility of Hong Kong stocks will increase significantly, but the Hong Kong stock market is still on the way.
Zhang Yidong, global chief strategy analyst of Industrial Securities, said that the shock of Hong Kong stocks is precisely to verify the reversal logic, rather than a short-lived wave of rebound. In October, Hong Kong stocks and A-shares are expected to turn from the recent short-squeeze rally to 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 favorable domestic policies, which has greatly boosted market confidence; On the other hand, the Federal Reserve cut interest rates in September, and global liquidity conditions are marginally regionally accommodative. Therefore, the Hong Kong stock market is still on the way, and there is still room for growth in the follow-up, if the international intermediary funds in the follow-up Hong Kong stock market continue to return, the growth sector represented by Hang Seng Technology is expected to continue to dominate.
Huatai Securities also said that in the case of the "absence" of Hong Kong stocks in the southbound, the return of foreign capital allocation (especially passive index foreign institutions) has played an important role in the capital side. With the rapid increase in real estate policies, China Asset Management continued to "catch up" with global rights and interests, maintaining the judgment that the offensive market window period was before mid-October.
Foreign capital is building up positions at an accelerated pace
On the evening of October 3, the latest information disclosed by the Hong Kong Stock Exchange showed that JPMorgan Chase bought HK $267 million of CPIC H shares, BYD H shares of HK $1.791 billion, Tsingtao Brewery H shares of HK $242 million, and HK $1.813 billion of H shares of the Hong Kong Stock Exchange on September 27. That is to say, JPMorgan Chase spent more than 4.1 billion Hong Kong dollars in one day to sweep Chinese assets.
In addition, data disclosed on the evening of October 2 showed that JPMorgan Chase increased its holdings of Ping An H shares of China by HK$1.771 billion on September 26 and China Merchants Bank H shares by HK$895 million on September 25.
It is understood that JPMorgan Chase is one of the largest financial service institutions in United States, and in addition to using its own funds, it also has a lot of funds for customers, and most of these customers are foreign capital.
It is worth mentioning that the voice of foreign investors buying Chinese assets has been endless, and with the latest data disclosed in the relevant announcements of the Hong Kong Stock Exchange, it can be confirmed that foreign investors have been long Chinese assets with real money.
In fact, for the market outlook, a number of foreign-funded institutions have also spoken out, saying that they continue to be optimistic about China's stock market.
BlackRock upgraded Chinese equities to overweight from neutral to overweight in its weekly report on September 30. There is still room for moderate overweight to Chinese equities in the near short term, given the near-record discount of Chinese equities to developed market equities and the presence of catalysts that could spur investors to re-enter the market, according to the BlackRock Investment Institute.
After BlackRock, HSBC also upgraded Chinese mainland equities from neutral to overweight. HSBC's valuation model shows that the A-share market is still undervalued by 15% based on fundamental factors. Investors are currently underweight Chinese mainland equities by 230 basis points relative to the benchmark, suggesting potential for inflows, the report added.
In response to the recent surge in the Chinese market, Morgan Stanley also said that if the Chinese government announces more spending measures in the coming weeks, the Chinese stock market could rise by a further 10% to 15%. Laura Wang, chief China equity strategist at Morgan Stanley, said in an interview, "Expectations of further fiscal expansion are back on the table, making investors look at China from a reflationary perspective for the first time in a long time." ”
Source: Southern Metropolis Daily
Editor-in-charge: Yi Keyan
Responsible proofreader Yang Yang
Editor-in-chief: Yan Yun
Final review: Editorial Board Member Liu Chao
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