The top-performing sectors were energy, which gained +1.23%, materials, which gained +1.04%, and industrials gained +0.88%, while communication services fell -1.28%, utilities fell -0.79%, and real estate fell -0.74%. Growth and value factors both performed well while small caps outpaced large caps. 3,737 stocks advanced while 968 declined. Shanghai, Shenzhen, and the STAR Board gained +0.62%, +1.08%, and +0.37%, respectively, on volume that increase +6.16% from yesterday, which is 101% of the 1-year average.
Southbound Stock Connect volumes were very light as Mainland investors bought a net $212 million worth of Hong Kong stocks, including Meituan, a very small net buy, and Tencent and Kuiashou, which were very small net sells.
Mixed in key price software#
The top-performing subsectors were auto, food, and pharmaceuticals, while consumer durables, retail, and software were the worst. Meanwhile, communication services fell -0.76%, consumer discretionary fell -0.41%, and technology fell -0.25%. The top-performing sectors were healthcare, which gained +1.86%, energy, which gained +1.78%, and consumer staples, which gained + 1.1%. Growth and value factors were mixed as small caps outperformed large caps. Main Board short turnover declined -14.97% from yesterday, which is 58% of the 1-year average, as 14% of turnover was short turnover. The Hang Seng and Hang Seng Tech indexes fell -0.09% and -0.56%, respectively, on volume that decreased -1.25% from yesterday, which is 71% of the 1-year average. This is likely beta testing on policies that could effectively raise the birth rate, though no national policy has been formalized. Meanwhile, Guangzhou announced that families with two or more children can receive home loans at favorable rates. It was interesting that, which gained +0.2% overnight, announced a RMB 10,000 cash bonus for employees having a child. The sportswear giant noted their China revenue increased +25% year-over-year (YoY), though an increase of only 16% YoY with currency moves, versus North America’s increase of only +5% YoY? The number of residents who said they will spend more this year increased by +1.2% to 24.5%, while 58% said they would save more, an increase of only +0.1%, and 17.5% said they would invest more, a decline of -1.3%.ĭid anyone else notice the lack of media attention to Nike’s financial results, released yesterday after the US close. The People’s Bank of China (PBOC) released their quarterly survey of Mainland residents.
Mixed in key price professional#
Professional investors buy winners and sell losing stocks at quarter-end due to quarter-end and semi-annual transparency on their portfolios. Portfolio window dressing may have played a role in last night’s price action. Alibaba fell -1.22%, Meituan fell -1.92% after buying an AI tech firm, JD.com fell -0.38%, and NetEase was flat.
Hong Kong-listed internet stocks were off -0.6% overnight. Meanwhile, the Mainland-listed CATL, the world’s largest battery maker, gained +2.83% as it benefits from Tesla’s use of their batteries in China-manufactured EVs. Company spokespeople also said that pre-orders have been stronger than anticipated. Hong Kong-listed electric vehicle (EV) ecosystem stocks were strong today as Xpeng gained +10.38% after announcing that their new G6 sedan will have an MSRP of $29,010 and a production target of 10,000 vehicles per month.
0 kommentar(er)
