The Lunar New Year is just around the corner, and Hong Kong stocks are in a bad mood. The Hang Seng Index rose by 8 points yesterday to 21,746 points. 1.5 months minimum. The market is lacking in direction, but Meituan (3690), which has been out of the gate this year, is weak but has not seen any respite. Yesterday it fell another 3.3% or 5.6 yuan to 165.6 yuan, falling for 7 trading days in a row, with a total loss of 13.2%. After falling for 10 consecutive days in May 2019 and the longest drop in one and a half years, Beishui also suddenly became fierce yesterday, and its selling volume increased to more than 1.5 billion yuan.
The Hong Kong Stock Connect has a monthly investment of 2.6 billion on the 6th
Hong Kong Stock Connect sold a net of 845 million yuan yesterday, of which Shanghai sold 1.881 billion yuan and Shenzhen attracted 1.036 billion yuan. Alone, Meituan had a net outflow of 1.539 billion yuan yesterday, making it the largest capital-moving stock, and it has recorded net sales for 6 consecutive days. Accumulated this month, Meituan’s share price has fallen by 5.2%, making it the second worst-performing blue chip after Lenovo Group (992). After falling below the 250-day moving average last week, it fell below the 50-day moving average yesterday, reaching a one-and-a-half-month low; Hong Kong Stock Connect sold 2.621 billion yuan net this month. On the contrary, Alibaba (9988) and Tencent Holdings (700) have gained 31.5% and 10.8% respectively this year.
HSHS HSI Watch 22810 Continue to recommend Meituan
The weakening of Meituan against its peers is generally believed to be related to the pressure brought by Tencent’s distribution of Meituan. However, Tencent’s shareholders still have to wait until late March to officially receive Meituan’s actual shares. Some major banks still believe that the group can benefit from this year’s recovery concept . The HSBC Securities report pointed out that the target of the Hang Seng Index this year is 22,810 points, and the state-owned enterprise stock index is at 7,830 points, with potential increases of 4.9% and 6.5% respectively. Retaliatory travel, the bank selected Meituan, Ali, JD.com (9618), Yum China (9987), Ping An Insurance (2318), Air China (753), Sunny Optical from the bottom-up stock selection strategy (2382), China Resources Land (1109), Link (823) and China Resources Power (836).
The Hang Seng Index edged up yesterday, but the Hang Seng Technology Index dropped 48 points or 1.1% to 4,506 points; the HSCEI reported a drop of 40 points or 0.6% to 7,350 points.
Originally published on AM730 https://www.am730.com.hk/Finance/Finance/Get out of the gate-Meituan 7 consecutive losses-Beishui sells 1.5 billion-longest drop in more than 1.5 years/357536?utm_source=yahoorss&utm_medium=referral
