CEO Li Jiachao released the “Political Speech” yesterday and launched a number of new ideas, many of which are innovative in concept, vigorously competing for business, talent and innovation, including the establishment of the Hong Kong version Temasek’s “Hong Kong Investment Management Co., Ltd.”, the establishment of 300 The “co-investment fund” of 100 million yuan, through the “high-end passport plan”, will repay the outstanding talents who have lived in Hong Kong for 7 years and I have to pay a spicy tax in Hong Kong. After the turbulent last five years of the government and the impact of the epidemic, Hong Kong really needs to strengthen its capital and cultivate its yuan, make new moves to develop the economy, consolidate local competitiveness and at the same time increase trust Hong Kong people.
During the election campaign, Chief Executive Li advanced the belief that “results are the goal”. The implication is that we don’t have to be bound by procedures and the most important thing is to get practical things. A misconception. The new “Political Discourse” is very long. The CEO’s speeches are all about smearing. The important thing is to implement pragmatic thinking, implement many concepts and set hundreds of KPIs at the same time. These ideas will be launched soon. During the five-year term, Hong Kong’s international status and competitiveness will be strengthened again.
“Political address” shows a promising style
The government must have a long-term vision and at the same time cannot ignore the immediate future. In the second half of this year, the external system will raise interest rates and local investment sentiment will be sluggish. has short-term stimulus measures, including support for small and medium-sized enterprises, and the introduction of measures to attract talent and talent. Manpower, improve the labor shortage. Prior to the publication of the report, it was reported that the talent and talent tax would be lifted and the outcome was as expected. However, it is not tax free when you buy a property, and you have to live for 7 years before you can get your tax refund. If you are an “excellent talent”, real estate agents feel there is no reason to speculate.
Although the new “Policy Guideline” contains measures to promote the economy in the short and long term, there is no concept of speculation and the reaction of the investment market is relatively flat. Although US stocks did well every night, Hong Kong stocks opened weakly. After the report began to be read, the index was weak and real estate stocks did not perform well due to their excellent talent. Exposure of the CEO’s political plan has limited stimulus to Hong Kong stocks for several reasons: First, the main components of Hong Kong stocks are mainland stocks and local stocks are limited.
The SAR government measures have the greatest impact on creating a financial center environment. The software, hardware and financial infrastructure are well made and the funds are willing to be released to facilitate valuation. Other government measures can only affect individual sectors.
Secondly, the main measures appear to be relatively stable in real estate policy, and it appears that the scope of talent reduction is relatively narrow and the news was digested in advance. local real estate shares generally fell and New World (017) tumbled nearly 8%. It closed at 18.82 yuan, the worst-performing blue chip stock; Henderson Land (012) fell 4% to 21.45 yuan; SHKP (016) fell 3.6% to 21.45 yuan; it closed at 89.5 yuan, with a smell of death.
Thinking back to the “Policy Addresses” of the previous CEOs, one cannot fail to mention the inaugural work of the SAR. At that time, the first CEO Tung Chee-hwa proposed the “85,000 House Construction Plan”. didn’t have a great response. Second CEO Donald Tsang’s “Political Speech” was generally well received by the market because he was a rich man and a big crocodile, but he was also referred to as “a lucky doctor and a sick tail”. At the moment, the geopolitical tension is tense and the government is easy to create problems. British Prime Minister Zhuo Huisi is responsible for people. He became a “living dead” after taking the wrong medicine for tax cuts. However, in a difficult social context, the SAR government must rise to the challenge. This “political stance” has introduced a large number of policies. Although the stock market has not risen sharply, the temporary reaction appears to be a receipt, and therefore the information must be well penetrated. . How to implement it is very important. Before seeing the actual results, it is necessary to reinforce the explanation so that the public can appreciate the changes. The most important thing is to stimulate the confidence of the general public in the future and encourage the business community to be willing to invest, so that Hong Kong can return to normal as soon as possible. The stock market will naturally react slowly.
Chief Executive Li displayed promising style when he came to power, but simply hit the target environment to blow the wind. The H-Share index closed at 5,597 points, down 158 points; the KSE index fell 139 points to close at 3,196 points, with a turnover of 84.7 billion yuan.
Grid shares of electric vehicle technology are falling, pushing the market lower
Some blue chip stocks announced third quarter results yesterday: the Hong Kong stock exchange (388) announced net profit of 7.099 billion yuan for the first three quarters ended September this year, down 28% on annual basis. The shares closed at 252.8 yuan, down 2.02%.
In addition to Hong Kong real estate stocks, Chinese real estate stocks have also come under pressure. Sanxun Group (6611) fell 27% to close at 0.21 yuan; Country Garden (2007) and Vanke (2202) lost 2% to close at 1.38 and 13.2 yuan respectively.
Shares of trams and the Internet were generally weak, affecting the market trend. Xiaopeng (9868) plunged 9.5% to close at 31.85 yuan; Weilai (9866) fell 7% to close at 92.65 yuan; Li Auto (2015) added 4% to close at 71.8 yuan; Alibaba (9988) and Tencent (700) both Qi fell 4% to 72.7 yuan and 244 yuan respectively; NetEase (9999) fell 3% to close at 109.4 yuan; Kuaishou (1024) and Bilibili (9626) fell 7% to 47.65 yuan and 91.6 yuan, respectively.
Jin Riku
