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Where to go after the short-term market earthquake? The direction of big finance and technology may still be the focus.
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Hang Seng Index market volatility subsides, focus shifts to the fiscal end | Hong Kong stock market barometer
①Hang Seng Index market stagnation amplifies, which trade signals are worth noting? ②Market focus shifts to the fiscal end, what logic?
Hong Kong stocks experienced a significant pullback, with the Hang Seng Index falling by 12.82%. Industry insiders interpret it this way.
On October 8, the Hang Seng Index fell by 9.41%, and the Hang Seng Tech Index plummeted by 12.82% in a single day. Brokerage analysts stated that the main reason for the decline was the resumption of work in the A-share market, the primary battleground recovery, combined with relatively empty content from the National Development and Reform Commission meeting, which fell below the market's expectations of continued bullish signals being released, leading to foreign capital not seeing clear signs of fiscal stimuli.
Goldman Sachs released three heavyweight research reports over the weekend: downgrading the forecast for US recession, expecting the Chinese stock market to rise by another 15% to 20%.
Goldman Sachs' stock strategy team believes that the US large cap stocks can rise by another 4.3% to 6000 points by the end of the year, as the possibility of a US recession has decreased, allowing the Federal Reserve to only reduce interest rates by 25 basis points each time. Their AP strategic team has upgraded the rating of Chinese stocks to "shareholding" and is bullish on the potential boost to valuation from large-scale stimulus measures.
HKEX: The average daily turnover of Hong Kong stocks in September was 169.2 billion Hong Kong dollars, a year-on-year increase of 87%.
On October 7, hkex announced that the average daily turnover of Hong Kong stocks in September was 169.2 billion Hong Kong dollars, up 77% from the previous month's 95.5 billion Hong Kong dollars, and up 87% from the same period last year's 90.3 billion Hong Kong dollars.
What happened during the National Day holiday at home and abroad? Here is a summary of important financial news.
①Shanghai Stock Exchange: From October 8th, the acceptance time for designated trading order instructions will be extended; Goldman Sachs has raised the Chinese stock market to "overweight", expecting a further increase of 15-20%; ②Hong Kong stocks are booming with a high increase in the number of new brokerage accounts and margin trading data within the past week; Many places have introduced optimized policies for real estate, and the market has responded positively.