Hong Kong Stock Market Mid-Day Review: Hang Seng Index Falls 1%, ChiNext Rises, Gold Stocks and Property Stocks Drop Sharply! Jiajia Up 9%, Tencent Up 1.46%, Meituan Down Nearly 4%, JD.com Down 2%, Xiaomi Down 15%
Glorion Review July 31st｜Hong Kong Stock mid-day, three major indices rose and fell unevenly. Technology stocks rebounded to help the Hang Seng Technology Index rise 0.34%, while the Hang Seng Index and the National Enterprise Index still fell by 1.07% and 1.03% respectively, and the Hang Seng Index broke through the 25,000-point threshold.
On the market, large technology stocks reversed their falls to rise, with Jiajia surging nearly 9%, Tencent up 1.46%, and WebEase and Alibaba rising red; Meituan still fell by nearly 4%, JD.com down more than 2%; data compiled by Bloomberg reflects that Chinese investors are shifting funds from gold ETFs to domestic stocks, causing gold stocks to drop sharply, with Huangjin Gold plummeting 8.6% to record six consecutive losses; Real Estate sales area in June fell by a percentage point, and institutions predict that subsequent real estate policies will focus on floor support; internal property stocks all fell, with Bi Guan, Wan Kai, and Xin Cheng development leading the decline. Electronics, automobile, photovoltaic, coal, building materials, oil, and mid-cap stocks also dropped.
On another front, Swiss Bank said that Macau's July gaming revenue exceeded market expectations, and Thailand recently withdrew a bill to legalize casinos; gaming stocks rebounded, with MGM China leading the charge; semiconductor chip stocks, mobile game stocks, pharmaceutical stocks rose sharply. (Glorion Review)