The energy crisis in Europe continues to grow and Russia has postponed the reopening of the Nord Stream gas pipeline no. 1, initially closed for three days indefinitely.The market fears that European countries entering the winter will cause it to be in chaos due to a lack of natural gas. Although Europe claims its natural gas reserves reach 84.3%, many people are concerned that Germany failed to meet its 85% natural gas reserve target in early September. If the energy crisis reappears, world market conditions will return to low levels in March, demonstrating that the shortage of natural gas in Europe has affected the growth of global economic activity.
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Therefore, the European stock market will continue to be under pressure, which will affect the market’s investment sentiment towards the stock market. IPC on September 13. The market fears that the US inflation rate may rebound. Should unemployment rise, the Federal Reserve will still raise interest rates by 0.75% on September 21st. The second time Hong Kong stocks look for opportunities will continue until mid-September. Recently, the shares of the Tencent (700) CCASS system have increased by 192 million shares, about 2% of the net worth, so that the market budget has shareholders who will further reduce their holdings in Tencent, Meituan (3690) and Kuaishou (1024) also have the opportunity to be relatively curtailed by Tencent.By holding and supplementing the company’s cash flow and value, tech stocks will weaken until mid-September upon news that the interest rate hike factor US and Tencent could be reduced.
Now, the support level of Hong Kong stocks is at 18,200 points. If there is no further news of large-scale city closures in the mainland, Hong Kong stocks are expected to hold this position.
Tang Lihong
Director of the Taiyi Capital Management Research Department
This column is published every Monday
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