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The Sino-US trade war intensifies and shakes Hong Kong stocks: the market fell to 668 points yesterday, the next test to 28,000 points, the decline of 28013 points was significantly reduced, but the Hang Seng index still lost 370 points. (about 1.3%), closing at 28,311 points, the China Enterprises index closed at 10,658 points, down 166 points (about 1.5%). The market was relatively quiet, with a business turnover of 95.9 billion yuan, down slightly by 3% from the previous day.
US President Trump fired Friday the first blow of the Sino-US trade war, adding a 25% tariff on Chinese imports worth $ 34 billion. Trump has already said that if the Chinese government retaliates, the US government must increase the total amount of goods subject to tariffs.
The US Trade Representative Office announced Tuesday (10 September) a new 195-page tax list for China, which plans to impose a 10% tariff on Chinese goods for 200 billion US dollars . , TV and other electronic products, as well as food for cats and dogs and so on.
It is understood that this new tariff schedule should be revised after approximately two months, and a public hearing will be held from August 20 to 23, which will be implemented as soon as the public consultation ends on August 30. As a result, the second wave of US trade wars against China could still be canceled after consultations between the two sides. The spokesman of the Chinese Foreign Ministry criticized the fact that the behavior of the United States is a typical commercial hegemonism: China will certainly make the necessary countermeasures by pointing out that the Chinese position is clear and that she does not want to fight the trade wars. The trade war will immediately take firm and effective action and resolutely protect its legitimate rights and interests.
Tencent's target price fell by 2%
Trump's decision has no rules, so the outside world has virtually no way of l & # 39; catch. For example, after the United States and North Korea broke the ice, North Korea criticized the United States for calling for the abandonment of nuclear power as a fraudulent demand, making relations between the United States and the United States. USA and the DPRK again blocked.
Trump provoked the Sino-US commercial escalation war, not to rule out his mania to continue to fight for politics.In fact, it is not necessarily advantageous for the US. US economy to collect tariffs. Both parties can resolve the conflict peacefully.
However, the sluggishness of the escalation of the Sino-US trade war will continue to influence market sentiment in the future and the persistent weakness of the RMB should cause the short-term trend of Hong Kong, from 27,800 to 29,400.
Heavyweights dropped the market, Tencent (00700) was sung by Daxing Credit Suisse, the target price was lowered to 496 yuan, and profit forecasts for this year and the following year have been lowered. Yuan, the market fell further by 1.9%, reported 379.4 yuan [figure 1] HSBC (00005) continued share repurchase action, but did not prevent the course share, down 1.3%, to 72.95 yuan, China Mobile (00941) Low income of 0.6%, or 70.45 yuan. Continental banks also claimed that the bank has continued to establish a loan loss reserve, which will reach 3% by the end of the year and will peak in 10 years, reducing profit forecasts. which weighed on the general decline of the continental banks. CCB (00939) plunged 2% to close at 6.85 yuan, ICBC (01398) closed down 1.6% to 5.56 yuan, Bank of China (03988) closed at 3.64 yuan, down 1.9%.
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The mainland city government plans to increase the regulation of the building market in the second half of the year, triggering the decline of real estate stocks in China. Among them, Country Garden (02007) closed at 12.82 yuan, down 3.3%, Vanke (02202) closed at 25.2 yuan, more than 5% [Figure 2] and China Overseas (00688) has closed down 2.7% to 24.85 yuan.
The RMB exchange rate dropped sharply, aerospace and paper stocks fell, China Southern Airlines (01055) closed at 5.64 yuan, down 5.2% and China Eastern Airlines (00670 ) plans to allocate A and H shares to investors. The stock price fell slightly by 0.2% to 5.08 yuan, Nine Dragons Paper (02689) closed at 9.11 yuan, dipping 5.3%.
The first "shares with different rights" new shares Xiaomi Group (01810), today (12th) will be included in the six indicators such as the FTSE China 50 index, the stock price has continued the rise of the previous day, the market grew the most 4.2%, high to see 19.8 yuan, the market has not increased and dropped, reported 19 yuan.
Fusen Pharmaceutical (01652) was listed on the first day and closed at 2.54 yuan, up 22% from the offer price of 2.08 yuan. Wanshun Group (01746) also recorded the first day, the closing at 0.36 yuan, down more than 30% from the listed price of 0.52 yuan.
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