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Hong Kong shares hit a low this year after hitting a low of 200 points last Friday. The RMB exchange rate has stabilized. The Hang Seng index is expected to rise to 10 antennas this morning.
US stocks stagnated last Friday, the Dow closed slightly lower at 6 points to 25058 points, up 0.15% over the week, with Microsoft and Facebook shares reaching new heights, technology stocks rising , the Nasdaq closing 5 points to 7820 points It fell slightly by 0.07% throughout the week. US President Trump blasted the Fed on Thursday, saying the Fed's rate hike would offset the fiscal stimulus his government had put in place. A White House official told CNBC on Friday that Trump feared the Fed would raise interest rates twice this year. After Trump's speech, the US dollar index fell more than 0.8%.
The president of the St. Louis Fed, Brad, said in a speech that Trump's position would not affect the Fed's decision on interest rates, and his remarks are not that's a new voice in the political debate. Brad also said that the inversion of the yield curve gives the economic bearish signal, he should be cautious on the issue of interest rate hikes to avoid the upward curve of the yield curve.
The price of the main Hong Kong (ADR) shares traded in the United States was higher than the Hong Kong closing price the day before. HSBC (00005) ADR converts to HK $ 74.38, which is higher than the closing price of 1.18 yuan the day before, Tencent (00700) closed at 378.35 yuan, down 1.75 yuan , China Life (02628) ADR closed at 20.02 yuan, 4 cents more. ADR closed at 12.42 yuan, 8 cents high, PetroChina (00857) ADR closed at 5.66 yuan, 2 cents more, Sinopec (00386) ADR closed at 7.21 yuan, 6 cents more. Regarding telecommunications shares, China Mobile (00941) ADR closed at 69 yuan, up 0.5 yuan, and Unicom (00762) closed at 9.5 yuan, up 0.14 yuan.
The Hong Kong ADR index was 28,396, up 171 points or 0.61% from the Shanghai Composite Index on Friday. The Hang Seng index fell 265 points early last Friday, posting 27,745 points, a new low of more than 9 months, bouncing back to the low level of the renminbi, the continental stock market soared 283 points and 28,294 points to 28,224 points. , up 213 points or 0.76%, the business turnover reached 100.337 billion yuan. This morning, the HSI should rise to 10DMA (28,376). The resistance is referred to a high of 28,981 this month, the support being based on the 27,745 minimum on Friday. The G20 Finance Minister and the President of the Central Bank have concluded a two-day meeting and issued a statement to warn that "trade and geopolitical tensions are increasing", which could jeopardize global economic growth and highlight the need to strengthen the global economy. dialogue and actions to reduce risks, build trust.
Focus Shares
Sunac China (01918): Released a positive profit, it is expected that interim net profit will increase significantly from year to year until the end of June, more than double the growth. The company will announce its interim results at the end of August. Yaoming Bio (02269): Net income for the six months ending in June is expected to be more than 2.5 times higher than the same period last year and diluted earnings per share will be more than twice as high to that of the same period last year.
China Taiping (00966): issued a profit alert, it is expected that the interim profit at the end of June this year will be 1.2 times the year on the year, the profit last year of 2.365 billion yuan. The sharp rise in earnings is mainly attributable to the continued good development of the insurance business and the significant increase in investment income compared to the same period last year.
Taikoo (00019): issued a profit warning, estimated that its Taikoo Ocean Development Group, the performance will continue to record losses, and recorded a significant amount of impairment losses of 3.9 billion yuan.
China Resources Phoenix Medical (01515): has posted a forecast profit, pre-tax profit forecast in the first half, compared with 398 million yuan last year, a significant decline, mainly due to the absence several one-time gains in the same period last year.
Luoyang Molybdenum Industry (03993): The multiple executives, administrators, supervisors and CFOs of the company pledged not to reduce the company's shares in 2018. In addition, Hongshang Group's controlling shareholder Commits to the foreign economic and trade trust of China and CITIC Securities (06030) of the 163 million undistributed shares of 361 million shares was pledged.
China National Offshore Oil Chemicals (03983): It is expected that the net profit attributable to shareholders for the period ending in June will be about 720 million to 750 million yuan, compared with 290 million yuan l & # 39, last year.
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