Under the influence of interest rate hike and recession prospect, global stock market sentiment is still cautious, Hong Kong stock market continues to decline, and the Hang Seng Technology Index is falling towards the 3000 mark. The U.S. stock market’s third-quarter earnings report released one after another will give short-term guidance.
The constituent stocks of the Hang Seng Technology Index (HSTECH), the data is from the official website of the Hang Seng Index, and the update time is September 30, 2022. After adjustment, the three companies with the largest proportions since October are: Meituan, Tencent Holdings and Alibaba.
The performance of Hong Kong stocks continues to be affected by both mainland and overseas factors. Currently, both overseas and domestic stock markets are under pressure, focusing on the performance of US stocks and the 20th National Congress of the Communist Party of China.
Overseas, U.S. inflation continued to remain high, and the Federal Reserve maintained a high-pressure trend of aggressive interest rate hikes, which was significantly detrimental to stock market sentiment. At the same time, the political and economic situation in Europe is still tense. The political situation and economic policy in the UK are highly uncertain, the energy situation in Europe has not been substantively eased, and the situation in Russia and Ukraine is protracted. mood.
On the mainland, the renminbi fell in tandem with the stock market. Investors are closely watching the upcoming “Twenty National Congress of the Communist Party of China”, hoping for more policy guidance.
In general, overseas and mainland stock markets are still under great pressure, and the focus is on US stock earnings reports and the spirit of important meetings in the short term.
HSTECH continues the downward trend of shocks and is currently in the vicinity of 3100. It is advisable to pay attention to the development of the trend. If it stops falling at 3000-3100, it is expected to start a 3000-3300 shock, and if it falls below 3000, it will continue to fall below 2800.
In terms of strategy, in the long run, the valuation of Hong Kong stocks is relatively low. The Hang Seng Technology Index has concentrated on the best technology stocks in Hong Kong. It is the best choice to buy the Hang Seng Technology Index ETF. Still an opportunity to accumulate chips. It is worth noting that before the global stock market as a whole bottoms out, the current fixed investment scale should remain unchanged, and it is not appropriate to stop fixed investment or increase the amount in the middle.
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