Hong Kong stocks market review: The Heng Seng index rose as much as 2%, technology stocks, financial stocks and other heavyweights were active, but semiconductor stocks fell sharply in the afternoon.
Today, the overall performance of the three major stock indexes in Hong Kong was strong, with a slight decline in the afternoon. The Hang Seng Index and the HSI Index once soared 2%, and finally closed up 1.28% and 1.16% respectively. The Hang Seng Tech Index rose by 0.66%. The three major indexes showed clear signs of bottoming out and rebounding compared to last week.
Express News | HK’s Hang Seng Index Closes up 1.3% at 17,238.34 Points
Express News | HK’s Hang Seng Index to Open up 1.0% at 17,196.45 Points
Hang Seng Index Futures : Hovering Above 17,000-Pt Support Level; Still a Bearish Setup
HTSC: Hong Kong stock valuations may approach support, continue to allocate safe assets and wait for bottoming out.
HTSC said that the current Hang Seng Index valuation level is about 5% away from the low point in mid-April, but the Hong Kong stock valuation level may be supported by the mid-April low point this year.
Brokerage research: a good opportunity may arise in Hong Kong stocks, it is recommended to wait for the Hang Seng Index to reverse before following on the right side.
Currently, the Hang Seng Index is finding support around 17,000, which may be due to the relative high risk premium at work. However, remain cautious and wait for a reversal before following on the right side of the Hang Seng Index.
Jasonkh : Start shorting!