South-to-North Water Transfer reduced holdings of multiple technology stocks, while North-to-South Water Transfer has been net buying Tencent for 12 consecutive days and selling China Mobile and China Telecom.
Track the latest trends of north-south directional funds.
Hong Kong stocks closed (08.09) and the Hang Seng Index rose 1.17%. Autos and mainland real estate stocks rose. The three major operators collectively fell.
The three major Hong Kong stock indices opened high and rose today, the Hang Seng Index successfully recovered the 17,000 mark, and the Heng Seng technology index rose more than 3% at one point. At the close, the Hang Seng Index rose 1.17% or 198.4 points to 17090.23 points.
Hong Kong stocks fluctuate | Telecommunication sector under pressure, China Mobile (00941) revenue growth slows down in the first half of the year, Lyon expects weak midterm performance of the industry.
The telecommunication sector is under pressure. As of press time, China Telecom (00728) fell 3.18% to HKD 4.26; China United Network Communications (00762) fell 2.88% to HKD 6.4; China Mobile (00941) fell 1.8% to HKD 70.95.
China Telecom (00728) fell 3.18% as the three major telecom operators came under pressure. Institutions predict that the industry's performance in the first half of the year may be relatively weak.
Jinwu Finance News | The three major telecommunications operators are collectively under pressure, with China Telecom (00728) falling by 3.18%, China Unicom (00762) falling by 2.88%, and China Mobile (00941) falling by 2.56%. On the news side, Citic Lyon issued a performance outlook for the telecommunications industry in the first half of 2024: growth is expected to slow down. The bank pointed out that Chinese telecom operators have benefited from potential dividend and tax reductions, and their performance has been remarkable so far this year. However, the bank believes that in the current economic downturn, governments and companies have postponed their information technology spending, so it is expected that the performance in the first half of 2024 may be weak.
China Telecom to Review Interim Results and Dividend
China Telecom (00728.HK) held a board of directors meeting on August 20 to approve the interim performance.
China Telecom (00728.HK) announced that the company's board of directors meeting will be held on August 20, 2024 (Tuesday) to approve the mid-year performance of the company and its subsidiaries up to June 30, 2024, including consideration of the distribution of mid-year dividends (if any).
