Special interview
Written by: Ou Jiajun
2020-10-12 21:24
Last update date: 2020-10-12 21:30
The central government released Shenzhen’s five-year reform roadmap on Sunday, and then it was reported that President Xi Jinping will attend the 40th anniversary celebration of the establishment of the Shenzhen Special Economic Zone on Wednesday (14th) and deliver a speech.
Driven by the news of Xi Jinping's southern tour, the China and Hong Kong stock markets rose sharply today (12th). Experts predict that the Hang Seng Index can test 25,000 points repeatedly, and related financial stocks and high-tech sectors can benefit from Shenzhen's reforms.
Huang Weihao: The market outlook is expected to test 25,000 points repeatedly
Following the positive news of Xi Jinping's southern tour, China and Hong Kong stock markets rose sharply on Monday.
The Hang Seng Index surged 530 points to close at 24,649 points, among which technology and Chinese banking stocks led the market. Tencent (0700) rose more than 3%, and China Construction Bank (0939) and Bank of China (3988) rose 5.6% and 4.2%.
As for the mainland stock market, the Shenzhen Component Index rose 3.2%, the ChiNext Index rose 3.9%, and the Shanghai Composite Index closed 2.6% higher.
Shenzhen concept stocks have become the focus, especially companies with the word "Shenzhen", such as Shenzhen Holdings (0604) 8.3%, Shenzhen International (0152) rose 6.2%, and Shenzhen Expressway (0548) rose 3.4%.
In addition to Tencent, Shenzhen-based strong stock BYD (1211) also rose 5.4%.
Even Kaisa (1638), which has a relatively heavy Shenzhen business, rose 3.2%.
Huang Weihao, director of the research department of Zhongwei Securities, pointed out that after the HSI stabilized by 20 antennas, it rose through the 50 and 100 antennas in one fell swoop. However, since the US election is less than 3 weeks away, it is expected that Trump and Biden's pre-election movements will still affect the market. If the market outlook stays upstairs at 24,600 points, you can try 25,000 points repeatedly.
On the 40th anniversary of the establishment of the Shenzhen Special Economic Zone, Xi Jinping, General Secretary of the Communist Party of China, will go south to deliver a speech.
(Xinhua News Agency)
Two major sectors of finance and technology benefit from Shenzhen reform documents
The State Council issued on Sunday the "Implementation Plan for the Pilot Comprehensive Reform of Building a Pilot Demonstration Zone of Socialism with Chinese Characteristics in Shenzhen (2020-2025)", which has become the roadmap for a new wave of reform and opening up in Shenzhen.
Huang Weihao pointed out that Shenzhen’s reform documents centered on finance, such as the reform of the ChiNext, pilot innovative companies issuing stocks or depository receipts (CDR), promoting the R&D and application of digital RMB, and international cooperation. Financial stocks and high-tech fields are expected to benefit. .
However, he said that although the domestic banks have rebounded significantly today, they still retain this sector, preferring to choose financial stocks such as domestic insurance stocks, brokerage stocks, Internet finance, and SaaS software stocks such as Weimob (2013) and Kingdee (0268).
He also pointed out that the leading technology stocks "rotate speculation", believing that JD.com (9618) currently has a relatively high rate of gambling. In addition to benefiting from the concept of high-tech fields, entering the fourth quarter is also a peak season for traditional e-commerce, plus potential spin-offs. , Is expected to chase behind.
Chinese banking stocks outperformed today, but experts have reservations about the upward trend.
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Guo Sizhi: Shenzhen concept stocks are expected to become the focus of the market
As for the Shenzhen concept stocks that exploded today, Guo Sizhi, the vice chairman of the Hong Kong Stock Analyst Association, said that the market used the Shenzhen reform documents and the news of the leaders to go south to speculate that Shenzhen Holdings and Shenzhen International will become the focus of the market. Still low.
In addition, he believes that part of the funds may flow into the Greater Bay Area enterprises, mainland real estate, and Chinese financial sectors such as domestic insurance and domestic banks. "The market only focused on new economic stocks earlier, and did not pay attention to these sectors. After this round of surges, It is expected that funds will continue to chase related stocks."
Regarding the neighboring US general election, whether the market conditions will continue to fluctuate. He pointed out that Hong Kong stocks recorded a transaction of 140 billion yuan today, reflecting that funds are lazy to manage the US election and continue to speculate. However, he urged investors not to rush into the market from high positions.
Guo Sizhi, vice chairman of the Hong Kong Equity Analyst Association, said that mainland real estate and Chinese financial sectors such as domestic insurance and domestic banking could benefit from Shenzhen's reform.
(Photo by Gong Jiasheng)
Shenzhen reform documents Hong Kong positioning embarrassing
President Xi went south, and the "Policy Address" originally scheduled to be published in the Legislative Council on Wednesday will also be postponed. Chief Executive Carrie Lam said that if the central government's policy to support Hong Kong's development can be included, Hong Kong citizens will have confidence in restoring the economy and inject new impetus into business activities Both are helpful.
When asked whether local stocks could speculate on the concept of recovery, Huang Weihao pointed out that it is difficult to predict because the policy address may not be announced until November, and there is still one month left. After the Shenzhen reform documents were issued, some market participants thought that Hong Kong’s role was embarrassing. In the development plan of the Greater Bay Area, Shenzhen is positioned towards innovation and technology, while Hong Kong is engaged in finance. However, in the reform document, Shenzhen’s financial development has more space, worrying that Hong Kong will become a supporting role.
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