HK Stock Review: Three Major Indices Down, Tech Stocks and Financial Stocks Weaken, Southbound Funds Net Buy 358.76 Billion HKD, a New Record!
格隆汇 August 15th｜HK stock market three major indices collectively fell, the market performance was low, individual stocks continued to perform. As of closing, Hang Seng Index and Hong Kong Enterprise Index both fell by 0.98%, Hang Seng Tech Index fell by 0.59%. Worth noting is that southbound funds net bought HK stocks 358.76 billion HKD today, setting a new single-day record.
On the market, "bullish leader" Chinese brokerage stocks rose sharply, CITIC Securities rose by nearly 11%, China Galaxy Securities and Zhongshang Securities rose over 9%, and other major securities companies and banks all rose. Internet healthcare stocks remained strong throughout the day, with Dingding Health closing up 36% and JD Health rising 11.67%. Semiconductors, Apple concept stocks, airline stocks, solar panel stocks, real estate stocks, and military industry stocks mostly rose.
On the other hand, large technology stocks generally performed poorly, dragging down the market, with JD.com, NetEase, Alibaba Group all falling over 3%, Meituan fell over 2%, Baidu fell by 1%, Xiaomi fell by 0.66%, and Tencent barely rose. Moody's pointed out that the consumption loan subsidy policy is expected to have a limited impact on financial institutions' capital, resulting in a decline in financial stocks, with Industrial Bank of China falling by 3%, Agricultural Bank of China, Construction Bank of China, and other major banks all falling over 2%. Coal, shipping, gaming, and dairy product stocks also fell.