This National Day holiday, two days on the road long-distance driving, three days of wine + meetings, the life is more tossed than usual, this is not always time to officially open.
First of all, I will report to you the performance of various sectors of Hong Kong and US stocks during the holiday:
To be honest, the global market is not dripping, and overseas markets are generally falling, because the interest rate of US bonds continues to rise, and the interest rate on US bonds has soared to more than 5%.
However, Hong Kong stocks were still firm, with Hang Seng Technology up 1% and the A50 Index slightly down 0.55%.
Next Monday's script is likely to be calm as water, and there is nothing to say.
However, there are several data worth noting, seven days before the holiday, the number of domestic tourists was 754 million, an increase of 78.9% year-on-year, and domestic tourism revenue was 668.09 billion, an increase of 132.6% year-on-year.
Compared with last year, there is no surprise, but compared with 19 years before the epidemic, the travel at that time was 782 million, and the income was 649.71 billion.
This means that the number of tourists in this wave is basically the same as the National Day in 19, and the tourism income has increased a little compared with 19 years, and the impact of this wave of the epidemic on travel has completely passed, marking an end.
From the perspective of assets, from the National Day of 19 to now, the rise of the CSI 300 full income index is just about 0, and our big A shares have also experienced a wave of lost 4 years.
Looking back on the past four years, you said that we don't hold it and don't move, but because there is an inverted V market in the middle, if any time in the middle does not control the hand, resulting in a high trap on the top of the mountain, then the investment is basically a loss of money.
The fund is cracked, other investments are also restless, in recent years, either a certain real estate is rotten, or the trust has exploded, either a certain melt is cracked, or a certain local debt is overdue....
Just like a reader friend before me, more than 10 million stud, a certain fixed financing private placement product with an annualized 11%+, steadily collects more than 1 million interest every year, and the interest is confiscated back for a few years, and the principal is thundered.
In the past four years, my intuitive feeling is that it is extremely difficult for the middle class to hold on to its wealth, and the ground is full of thunder, and you can return to poverty overnight if you step on one of them...
Anyway, when I went back to chat with some elders this time, I could obviously feel the slump in the industry, which used to be bought and bought overseas, and now it is popular to compare prices and shop around.
Compared with the overseas middle class, the gap with us in recent years is getting wider and wider~
Why do you say that? Because the overseas investment environment is far less bad than ours, first of all, there have been few overseas wealth management products, and financial institutions do not sell traditional fixed income "wealth management" at all.
Therefore, this forces overseas investors to buy those standardized assets, such as funds, stocks, bonds and so on.
Most overseas investors are buying a little more assets such as U.S. stock indexes, and in the four years since the National Day in '19, the S&P 500 has risen 50%, and the Nasdaq 100 has risen 90%.
As for our YYDS properties, the listing price index of first-tier cities has only increased by about 15% in the past four years, while the home price index of the 10 largest cities in the United States has increased by 43%.
Therefore, the wealth of the Chinese middle class and the US imperialist middle class in the past four years has opened up a big deal at once.
This is also why overseas interest rates are still booming, while domestic interest rate cuts continue to collapse but confidence has seriously collapsed, because overseas investors have achieved wealth upgrades in the past four years, while we have walked out of a wave of wealth downgrades.
So the key question is how to boost investor confidence.
To be honest, this year we have seen a lot of substantive policy measures being implemented, including restricting major shareholders from reducing their holdings, suspending IPOs, reducing stamp duty, and severely punishing people.
Next, you can expect further big moves, such as whether ZF can take the initiative to take up the debt to buy ETFs, steadily pull up the market, in short, first shape the money-making effect, and then talk about confidence.
1, Shanghai gold plummeted, the first two trading days of the holiday fell 5 points, the previous domestic gold premium in one breath to wipe out, but London gold continued to stabilize, if according to the last "shocking law" operated a hand of domestic and foreign gold arbitrage, this wave of blood to earn ah.
2. Cook sold 511,000 shares of Apple stock, earning about $41 million, and Duan explained that Cook's stock options were exercised and taxed when they expired, so they had to be sold. But to be honest, if you sell stocks to pay taxes, it is not necessarily true, after all, Cook sold $750 million of Apple shares in 21 years, a lot of money, really optimistic that there are now various ways not to reduce holdings. Of course, there are not many sales at this stage, and Cook still has more than 3.2 million shares in his hands, so it is impossible to explain anything for the time being. But one thing to say, the current valuation of U.S. stocks is indeed not low, coupled with the high yield of U.S. bonds, I think it is not surprising to sell appropriately, and I dare not increase my position rashly, but I can still take it.