1. Market review
Hong Kong stocks were unable to rebound, and the three major stock indexes once hit new lows. Hang Seng Index fell 1.4%, the Chinese index fell 1.53%, and the Hang Seng Technology Index fell 2.37%. On the
plate, Chinese stocks listed in Hong Kong, , , fell, and large-scale tech network stocks fell one after another, , Baidu , NetEase, and Kuaishou all fell by more than 8%. Electric power and mobile game stocks fell sharply; automobile stocks continued to expand, and "Wei Xiaoli" both hit new lows; catering, education, home appliances, Tesla concept, internal housing and property management stocks fell one after another. On the other hand, semiconductors performed strongly, with aerospace, oil and military stocks partially rebounding.
Looking ahead to the future market, Hong Kong stocks are highly correlated with A shares and US stocks . The bottoming out of the US stock market is not yet clear, but Hong Kong stocks are already at the bottom and A-shares also have a lot of room for growth, so there is no need to be too pessimistic about Hong Kong stocks.
2. New stock performance
3. Hot news
1. China China Free Trade: Haikou International Duty Free City will open and operate on October 28.
2. lithium carbonate rose 1,000 yuan/ton, with a maximum of 545,000 yuan/ton set a new record.
3. Sinopharm Group China Biologics successfully isolated monkeypox virus and began to study vaccine and drug-related work.
4. China Southern Airlines winter and spring flight season plans to fly 654 routes and 40 new routes are opened.
IV. Institutional Viewpoint
V. Supervision Dynamics
1. Zhejiang: The province strictly prohibits increasing the total steel production capacity, and new or expanded steel smelting projects outside compliant parks are prohibited.
2. National Development and Reform Commission: Large breeding enterprises shall not deliberately suppress the market and raise prices, nor shall they collude to raise prices.
3.World Steel Association downgrades global steel demand expectations this year and next two years.
4. The Hong Kong Monetary Authority bought HK$3.062 billion to defend the linked exchange rate system. On Friday, the balance of the Hong Kong banking system will fall to HK$100.166 billion.
