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Trip.com (TCOM) Stock Falls Amid Market Uptick: What Investors Need to Know
Hong Kong stocks anomalous | Summer tourism market demand still has resilience, Ctrip Group-S (09961) rose nearly 5%, Tongcheng Travel (00780) rose nearly 4%.
Travel concept stocks continue to rise, as of press time, Ctrip Group-S (09961) rose 4.13%, reported HKD 333; Tongcheng Travel (00780) rose 3.77%, reported HKD 13.78.
Hong Kong stock concept tracking| National Bureau of Statistics: Strong demand for summer travel, OTA platforms are the absolute beneficiaries of the tourism market growth (with concept stocks)
According to the National Bureau of Statistics, the demand for summer travel is strong, with airplane tickets, travel and lodging prices rising by 22.1%, 9.4% and 5.8% respectively. These increases are higher than the average level of the same period over the past ten years.
[Brokerage Focus] Zhongtai International: After global risk aversion subsides, Hong Kong stocks are expected to open up upward space.
KingWatch Financial News | China-Thai International released its August outlook for the Hong Kong stock market, as the untying trend of the yen-carry trade exacerbates the fluctuation of global risk assets, Hong Kong stocks may be affected by increased overseas market volatility and fluctuate at low levels. As of July 30, speculative short positions in the yen have been greatly reduced, and the current one-month US dollar against yen 25Delta risk reversal volatility has fallen to its lowest level since mid-2020, indicating that the yen may have a short-term phase top and will boost the rebound of Hong Kong stocks and other risk assets. The bank pointed out that the upward momentum in the current Hang Seng Index profit forecast has been fluctuating repeatedly, and the performance of Hong Kong stocks has been mixed since the earnings season.
Snap, Share, and Win! Trip.com Unveils "100 Ways of Travel" With Trip Moments Campaign
OTA platform stocks show strength, Ctrip Group (09961) rose 4.68%. The State Council issued a document supporting tourism consumption, and the summer tourism market demand still has resilience.
OTA platform stocks are strong, with Ctrip Group (09961) up 4.68% at HKD 330.8, and Tongcheng Travel (00780) up 4.2% at HKD 13.88. Citigroup published a report stating that the State Council's "Opinions on Promoting High-quality Development of Service Consumption" are positive for the mainland's internet and media industries. The opinions expound on the support direction for catering and lodging, tourism, entertainment, and digital consumption. The bank expects service consumption, including entertainment consumption such as music, movies, online games, and esports, tourism, and local services, to remain resilient in a weak macro environment.
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