Due to external concerns and technological pressure, the Hang Seng Index once again fell below the 17,000 point threshold.

Written by / ATFX. Hong Kong stocks opened low this morning and fell more than 300 points, once breaking the 17,000 point mark. It plummeted 354 points or 2.05% in half a day, fell below the morning low in the afternoon, and fell as much as 439 points, reaching a low of 16865, hitting a new low since April 23. The national index fell 116 points or 1.9% to 5,969 points; the Hang Seng Tech Index fell 80 points or 2.3% to 3,396 points. Overall, blue chips were sold off, with Tencent (00700) falling 2.4%; Meituan (03690) once fell 7.8%, the worst-performing blue chip during the session; Alibaba (09988) fell 3%; and Construction Bank

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WSJAug 1 21:42 ET

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Business TodayAug 1 20:04 ET

Xingye Securities: Hong Kong stocks are expected to start the second phase of the market in August and recommend two main lines.

According to the Zhitong Finance APP, a research report released by Xingye Securities stated that the essence of the Hong Kong stock market situation in 2024 is to emphasize the valuation repair of excellent companies that focus on shareholder return, which is expected to lead the investment logic of Hong Kong stocks for many years to come.

Zhitong FinanceJul 31 08:30 ET

China Galaxy Securities: Focuses on laying out Hong Kong stock dividend and technology rotation strategies.

The market expects the Federal Reserve to probably start cutting interest rates in September. There is a possibility of inflow of foreign capital into the Hong Kong stock market and technology sector is expected to have an upward trend due to the foreign preference for technology sector. Under the background of a new round of state-owned enterprise reform, the allocation value of state-owned enterprises in the Hong Kong stock market is expected to rise.

Zhitong FinanceJul 31 01:38 ET