The Hong Kong stock market is in the longest continuous rise since 2018.Market observer believes that the period of downturn for several years may end.
The benchmark Hang Seng Index rose 1.39%on Friday (May 3), and once rose by more than 2.2%, the ninth consecutive trading day rose.The Hang Seng Index has risen by 6.5%over the past week.The rise in technology stocks is particularly obvious.Alibaba rose 7.9%in the past week, and Tencent rose 6%.
Bloomberg pointed out that all the benchmark indicators of the Hong Kong stock market have entered a bull market in the past two weeks.
Reporting analysis, many factors have promoted Mainland China funds and global funds to enter the Hong Kong stock market.The stock price that has been lower than valuation, the support policies of the mainland government, and the attractiveness of the Hong Kong dollar itself to the US dollar are pushing the market enthusiasm.
The China Securities Regulatory Commission announced five new measures to Hong Kong cooperation earlier, including further expansion and optimization of Shanghai -Shenzhen -Hong Kong -opening mechanism and supporting mainland leading enterprises to go public in Hong Kong.Firm support.
Bloomberg reports that if funds continue to flow in, the Hong Kong market will stabilize after nearly 40%of the Hang Seng Index in the past four years.Because the stock market continued to be sluggish, Hong Kong was once questioned whether it can still be called an international financial center.
Union Bancaire Privée (UBP) managing director Vey-SERN LING has judged Bloomberg, the strong performance of Hong Kong stocks in the past two weeks may attract more capital inflows, because investors are afraid of missing opportunities for good opportunitiesEssence"Even after a significant rise, the valuation of Chinese technology stocks is still far lower than the historical average."
A number of strategists from Bank of America Securities in a report on Wednesday (May 1)Writing that "at least 2024 has passed in 2024.However, the report also pointed out that factors such as geopolitical tensions and weak macro data may still hinder the rise.
