The Best Opportunity for Hong Kong Stocks: Analysts Predict Growth as Hang Seng Index Remains Steady

Investing.com – On Monday (12th), the Hong Kong stock market closed slightly higher, the Hang Seng Index was basically flat, and the Hang Seng Technology Index rose about 0.3%. Learn about future US interest rate policy.

The turnover of the Hang Seng Index today was 80.254 billion, which was 86.609 billion in the previous trading day; Beishuiwei City accelerated buying, and today the net purchase of southbound funds was 4.564 billion yuan, with a net inflow of 5.748 billion yuan.

As of market close:

• Up 0.07%, to 19404.31 points;
• Up 0.31% to 19,404.5 points;
• Up 0.27%, at 3944.67 points;
• It fell 0.06% to 6585.68 points.

Auto stocks were mixed. Xpeng Motors (HK:) (NYSE: ) rose more than 11%. Xpeng Motors announced today that the order volume of Xpeng G6 exceeded 25,000 in three days. In May, Xiaopeng Motors only delivered 7,506 new cars.

At the same time, NIO (HK:) (NYSE:) rose about 5%, Li Auto (HK:) (NASDAQ:) fell about 2%, BYD (HK:) rose 1.6%, Geely Auto (HK:) fell less than 1%, Great Wall Motor (HK:) fell 2%, and Guangzhou Automobile Group (HK:) rose less than 1%.

Some photovoltaic solar stocks rose slightly. GCL-Poly Energy (HK:), Xinyi Solar (HK:), Xinte Energy (HK:) rose more than 2%, and Flat Glass (HK:) rose 6%.

Biomedical class B stocks were among the top losers, Venus Medical-B (HK:) fell 11%, Corning Jerry Pharmaceutical-B (HK:) fell 5%, Conoya-B (HK:) fell 4%, Kintor Pharmaceuticals Industry-B (HK: ) fell 6%.

Mainland property stocks fell, Longfor Group (HK:) fell 2%, Sunac China (HK:) fell about 9%, Country Garden (HK:), Vanke (HK:) fell 1%.

Technology stocks were mixed. Tencent Holdings (HK:)(OTC:) rose 0.71%, Alibaba (HK:)(NYSE:) rose 0.12%, and Baidu (NASDAQ:)(HK:) fell less than 1%.

Looking ahead, China Securities believes that Hong Kong stocks usher in the best opportunity of the year. Analysts said, “Hong Kong stocks have experienced a round of decline since February, mainly due to the resurgence of tightening expectations, concerns about economic recession, and the catalysis of risk events. tight and form a double bottom.”

“The current downturn risks affecting Hong Kong stocks have been fully released. The three major indicators of valuation, liquidity, and market trading sentiment, which have a good predictive effect on the trend of Hong Kong stocks, have also begun to show turning points. We believe that Hong Kong stocks will gradually get out of the bottom and usher in the next year Best chance.”

[This article is from Yingwei Caiqing Investing.com, to read more, please log in to cn.investing.com or download Yingwei Caiqing App]

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Editor: Liu Chuan