Financial news
Written by: Jiajun Qu
2020-03-03 12:15
Last updated: 2020-03-03 12:15The market ’s expectations that the Fed ’s interest rate meeting this month will decide to cut interest rates, interest rate futures also show that the Fed ’s current meeting will cut interest rates by 50 pips. The US stock market Dow rose sharply by nearly 1,300 points overnight, but the Hong Kong stock market did not follow suit. The HSI only rose 204 points to 26,495 points in the half-day.
Chen Weicong, director of the research department of Youxin Securities, said that because the market expected the Fed to cut interest rates by 50 pips in March, US stocks rose sharply last night, but the 10-year Treasury bond interest fell to a historical low of 1.03%, showing the market's risk-awareness Still high, the economic outlook remains relatively pessimistic. However, the U.S. Treasury bond rebounded to the level of 1.15% during the session. It does not rule out that some funds will flow back into the stock market from the bond market in the short term. I believe that the growth of Hong Kong stocks will be conditionally expanded, but there will be resistance in the short term at 26700 to 27000.
In terms of sectors, he advised investors to include technology or new economy stocks, as well as some mainland policy beneficiary sectors, such as Chinese infrastructure, resource stocks, autos and domestic property stocks. He also pointed out that the RMB exchange rate has recently strengthened to a one-month high, which is positive for domestic property stocks, especially domestic property stocks with a higher proportion of borrowing in US dollars. However, some individual homes rose by 5 to 6% on Monday. It is expected that the sector will be strong again after it has stabilized.
Li Weijie: Interest rate cuts benefit high-yield stocks such as room care and public utilities
Li Weijie, vice president of the Greater China Investment Strategy Research Institute (Hong Kong stocks), pointed out that this morning the mainland stock market is more in line with the external rally. There have been thousands of declines, and Hong Kong stocks are expected to maintain a 26,000-point mark.
He also pointed out that the Fed's interest rate cuts are good for Hong Kong's high-interest stocks, because if the 10-year Treasury bonds continue to be at a low level, high-interest stocks will become attractive to the market, such as room care and rent-collection stocks, traditional public shares Such as gas (0003), and HSBC (0005) see 7.5% interest can also consider storage.
In terms of technology stocks, as Tencent (0700) and Alibaba (9988) adjusted from high to only 5 to 10%, the decline was not too big, he thinks that there is not much room for rebound on Bo. As for the benefit of the mainland property market, the interest rate cut by the mainland has also been strong, but he pointed out that the sales data of the domestic property market in February will be unsatisfactory, and the purchase may be considered after the data is released.
Hong Kong stock market trend