The concept of a short drama with intense long-short games at key positions once again bucked the trend | Hong Kong stock market benchmark – Mobile Finance

The concept of intense short drama of long and short game at key positions once again bucked the trend and opened higher | Hong Kong stock market indicator

Feng Yi, Financial Associated Press

2023-11-16 19:00:49

Financial News Agency, November 16 (Editor Feng Yi) The three major Hong Kong stock indexes all opened higher and moved lower today. As of the close, the Hang Seng Technology Index fell 1.85%; the Hang Seng Index closed down 1.36% to 17832.82 points; the State-owned Enterprises Index fell 1.41%.

Let’s take a look at today’s market hot spots. They include: heavyweight technology stocks led the decline, and the long-short game gradually became more intense; Douyin tested paid video services, and the concept of film and television media was launched again; the real estate sector received key data, and domestic property stocks generally fell in response.

[Heavyweight technology stocks lead the decline, and the long-short game is gradually becoming more intense]

On the market today, heavyweight technology stocks had mixed gains and losses. Xiaomi Group fell by more than 6%, NetEase and Alibaba fell by more than 2%, Kuaishou rose by 3%, and JD.com Group rose by nearly 2% after the results.

Other hot spots are also dominated by the following behaviors. Most of the top financial and Chinese stocks fell, with the semiconductor and sporting goods sectors leading the decline, while pharmaceutical stocks continued their short-term decline. Photovoltaic, gaming, real estate and other sectors also performed weakly. Only software, electricity, and coal bucked the trend and posted gains throughout the day.

Overall, the Hang Seng Index rebounded to the key position of 18,000 points, and the long-short game gradually became fierce. Today’s Hang Seng Index trading volume reached HK$115.2 billion, remaining at the 100 billion level for two consecutive days.

At the same time, data disclosed by the Hong Kong Stock Exchange showed that a total of 579 Hong Kong stocks were short-sold on November 16, with a total short-selling amount of HK$12.167 billion. The intensity of short-selling also exceeded HK$10 billion for two consecutive days.

[Douyin tests paid video service film and television media concept and launches it again]

Driven by the news that Douyin recently tested a paid video content service, the film and television media sector, which has been adjusted for many days, started again today, and there was a general rise in the market. Kuaishou-W (01024.HK) also led gains among technology stocks.

Previously, the soaring popularity of short dramas once stimulated a continuous rise in the film and television media sector.

Whether related concept stocks can further strengthen through Douyin content payment has also aroused great expectations in the market and is worth keeping track of investors.

[Real estate sector responds to key data as housing stocks fall]

Data released by the National Bureau of Statistics today show that in October, the sales price of commercial housing in 70 large and medium-sized cities decreased month-on-month, the number of cities increased slightly, and the sales price of commercial housing in all tier cities decreased month-on-month.

It is worth noting that the month-on-month growth rate of newly built commercial housing sales turned down again in October, down 0.3% month-on-month. Among them, the first-tier cities also fell more than they rose. Beijing, Guangzhou and Shenzhen fell by 0.4%, 0.7% and 0.5% month-on-month respectively. Shanghai A month-on-month increase of 0.2%.

Affected by this data, the trend of domestic property stocks also fell across the board today, and the rebound came to an abrupt end.

It is worth noting that there were reports today that two new residential plots were listed in Shenzhen, and the bidding method was changed to “single-limit order lottery”, which also made the market think that Shenzhen will cancel the price limit policy. The role of subsequent incremental policies on the subsequent rebound of real estate stocks also deserves investors’ continued attention.