Asian stocks had a day, with the exception of India, where the US dollar weakened overnight, while Japan returned to good spirits after yesterday’s holiday and outperformed.
It was a very quiet summer afternoon for news, along with subdued volumes as markets await to learn about U. S. inflation and the Chinese economy by July. However, after the July M2 close, new loans and general funding advanced month after month. all slightly missed economists’ expectations. Hong Kong rose slightly from aid levels as the second-quarter earnings season enters prime time, with Tencent and Meituan reporting in the morning.
Online real estate corporation KE Holdings (BEKE US, HK 2423) gained 7. 67% in Hong Kong after strong effects and outperformed its US ADR, which gained 5. 49% yesterday. This morning, Tencent Music Entertainment (TME US, 1698HK) gained 4. 7% in Hong Kong as the company reported its monetary effects after the Hong Kong lockdown and outperformed the Big 3 (profit, adjusted net source of profit and Adjusted EPS), the year in which the year-over-year decline in earnings appears to be weighing on the pre-equity market. Also reported this morning, online gaming streamer HUYA (HUYA US) beat the Big 3 with a shareholder-friendly $1. 08 special dividend and an increase in its percentage buybacks.
Energy stocks rose due to tensions in the Middle East, while technology stocks also had a day in both markets as continued communication about iPhone 16 production accelerates, dragging Apple’s suppliers higher.
Hong Kong’s most traded stocks via price were Tencent, +0. 96%, Meituan, -0. 58%, Alibaba, +0. 25%, China Construction Bank, -0 . 36% and Xiaomi, with +2. 67%. Major Internet stocks also rose sharply: NetEase fell -1. 21%, JD. com +0. 7%, Trip. com +0. 3%, Kuaishou -0. 11% and Bilibili +1. 99 %. Mainland investors bought $246 million worth of Hong Kong stocks and ETFs, with Tencent and China Mobile being moderate net purchases. The mainland market recorded slight gains in volume, below the one-year average, as it was the lightest day since May 25, 2020, as the trading price fell below RMB 500 billion for the fourth time. Do this for the fifth time, because today’s volume was even lower than Array. Cleantech stocks had a smart day as recipients of political support. Another big news was the revision of the MSCI index, discussed below. For shipment delivery, ZTO will move its MSCI market from the United States to Hong Kong. Mainland media noted that American and Chinese diplomatic and monetary regulators were meeting in Shanghai, although media policy was limited in the West.
MSCI has published its format for month-end index rebalancing. The weights of new emerging market countries/total number of securities/additions of securities/deletions of securities are shown below:
The Hang Seng and Hang Seng Tech gained +0. 38% and stable/0. 0% respectively, with a volume increase of +0. 73% compared to yesterday, or 69% of the one-year average. 217 stocks rose, while 230 fell. Main Board’s short turnover fell -11. 16% from yesterday, or 72% of the year-over-year average, as 18% of turnover was short turnover (the Hong Kong short volume includes ETF short volume, which we decide through market makers). ‘ETF coverage). Large-cap and price stocks outperformed small-cap and growth stocks. The leading sectors were technology, with an increase of +1. 5%, public services, with an increase of +1%, and industrial, with an increase of +0. 87%, while basic consumer goods fell -0. 63%, the real estate sector fell -0. 16% and the discretionary sector fell -0. 02%. %. The most sensitive subsectors were media, telecommunications facilities and technical equipment, while automobiles, food and professional facilities were the worst. Southbound Stock Connect volumes were light: Mainland investors bought $246 million of Hong Kong stocks and ETFs, with Tencent and China Mobile being moderate net buys, while the Hong Kong Tracker ETF was a moderate net sell. /big.
Shanghai, Shenzhen and STAR Board gained +0. 34%, +0. 5% and +0. 48% respectively, with volume down -3. 69% from yesterday, or 59% of the annual average. 2,799 shares rose, while 2,013 fell. Large-cap and price stocks outperformed small-cap and growth stocks. The leading sectors were industrial, with +1. 06%, technology, with +0. 87%, and financial, with +0. 83%, while basic customer products fell -0, 72%, fitness -0. 61% and discretionary customer -0. 07%. The most sensitive subsectors were force generation devices, force devices and force network, while alcohol, prescription drugs and biotechnology were the worst. Northbound Stock Connect volumes were moderate as foreign investors were small net sellers, while Wuliangye, Wanhua and Eoptolink were small net sellers. Treasury bonds have rallied. The CNY index and the Asian dollar gained against the US dollar. Copper gained while the metal fell.
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