China News Service, Hong Kong, September 20. Hong Kong’s Hang Seng Index opened lower on the 20th and moved lower. It once fell below the 24,000-point mark and hit 23,871 points during the session, which was the lowest in more than 11 months. Over 80% of the shares fell throughout the day, and Hong Kong stocks finally closed at 24,099 points, a drop of 821 points, or 3.3%. The market’s daily turnover was 141.7 billion yuan (HK$, the same below).
The China Enterprises Index fell 301 points to close at 8,638 points, a drop of nearly 3.4%. The technology index fell 180 points to 6271 points, a decrease of 2.8%. Among them, Alibaba fell 2.2% to 151.5 yuan; Tencent fell 1.7% to 454.2 yuan; Meituan fell 2.6% to 234.6 yuan; NetEase fell 1.5% to 126.8 yuan.
In terms of focus sectors, mainland property stocks continued to be under pressure, Evergrande fell 10.2%; Aoyuan fell 12.0%; Sunac fell nearly 10.5%. Hong Kong property stocks also fell collectively. Many fell by about 10%. Among them, Henderson Land fell 13.2%, New World fell 12.3%, Sun Hung Kai fell 10.3%, and Cheung Kong fell 9.3%.
Ye Shangzhi, chief strategist of Shanghai First, predicts that the Hong Kong stock market will continue to find a bottom, with a chance to reach around 23,000 points, and the stock market once fell below 24,000 on that day. If investors want to “find the bottom” and rebound, it is more appropriate to approach 23,000. His analysis pointed out that the stock market fell sharply because of multiple factors such as Evergrande news, regulatory policies, and the Federal Reserve’s interest rate negotiations. However, due to the suspension of “North Water” during the Mid-Autumn Festival, the stock market’s ability to accept it was reduced.
He further pointed out that Hong Kong stocks will be closed on Wednesday (22nd), and the results of the Fed’s interest rate negotiation will be announced in the early morning of Thursday (23rd) Hong Kong time, so The market reacted first to cool down.
(The Hang Seng Index fell by more than 800 points and barely stood at 24,000 points)