China Fund News reporter Green
On May 13, the three major indexes of Hong Kong stocks rose collectively!
As of the close, the Hang Seng Index rose 0.8%, standing above the 19,000-point mark at 19,115.06 points, returning to above 19,000 points after nine months, the Hang Seng Technology Index rose 1.42%, and the Hang Seng China Enterprises Index rose 0.64%.
In terms of the concept sector, Internet technology stocks rose more. Among them, Alibaba-SW rose 4.11%, Meituan-W rose 3.12%, JD.com Group-SW rose 2.13%, and Tencent Holdings rose 1.94%. Shipping stocks rose, with OOCL up 5.95%; WuXi stocks opened higher and moved lower, with WuXi AppTec opening 15% higher and closing up 4.46%.
Alibaba soared
On May 13, Alibaba-SW surged 4.11%. Alibaba will announce its fourth-quarter results for fiscal 2024 before the U.S. stock market on May 14. Some institutions have given the following predictions: Alibaba will achieve revenue of 219.832 billion yuan in the latest quarter, a year-on-year increase of 5.58%; earnings per share was 5.41 yuan, a year-on-year decrease of 39.88%.
In addition to Alibaba, the Internet of Hong Kong stocks has shown an optimistic trend recently. Guosen Securities Research Report said that the Internet sector of Hong Kong stocks has opened a long-term fundamental repair market. First of all, the value depression attribute is highlighted. At the beginning of May, Guosen Securities summarized the valuation of Hong Kong Internet companies after deducting cash and short-term investment, and found that compared with the NASDAQ index, the Hong Kong Internet sector is located in the deep value area, and the investment value is prominent. Secondly, the increase in long-term foreign funds drove the inflow of southbound funds, which continued to promote the rise of the sector. Finally, there is also support in terms of company management and domestic policies.
Boom up? Shipping stocks rose
Shipping stocks rose, with OOCL up nearly 6%. According to the agency, the overall prosperity of shipping may be an important driving force for the rise in stock prices.
According to the research report released by Western Securities on May 12, freight rates and financial futures in various sub-sectors of shipping have risen recently, confirming the prosperity of the shipping sector. The Ningbo Export Container Freight Index released by the Ningbo Shipping Exchange rose 13.3% from the previous week. Among them, this week's European route freight index increased by 22.9% compared with last week; On May 10, the price of the 2406 contract of Jiyun European Line Futures hit a record high, rising by more than 8% during the day; The freight rate and financial futures price of the shipping sub-sector have risen, reflecting the good prosperity of the shipping sector.
Plummeted by nearly 60%, "running away" private equity affiliates?
In terms of abnormal stocks, on May 13, the Hong Kong-listed company Riying Holdings Co., Ltd. (hereinafter referred to as Riying Holdings) fell by more than 60% intraday and closed down 58%. According to market rumors, Riying Investment Holding Group Co., Ltd. is the largest affiliated company of private equity Ruifengda that has recently "run away". According to Zhongxin Jingwei, in this regard, Riying Holdings said that it is not clear why the stock price fell sharply on May 13, nor is it clear about the relationship between Riying Holdings and Ruifengda.
The total notional principal amount of the "Swap Connect" reached 1.77 trillion yuan in the first year after its launch
According to the official WeChat message of the People's Bank of China, on May 15, 2023, the mutual access cooperation between the interest rate swap markets between the mainland and Hong Kong (hereinafter referred to as "Swap Connect") was officially launched. Since the launch of the business, the transaction clearing and other mechanisms have been running smoothly, domestic and foreign investors have actively participated, and the business volume has continued to rise. As of the end of April 2024, 20 domestic quotation providers and 58 foreign investors have reached more than 3,600 RMB interest rate swap transactions, with a total notional principal of about RMB1.77 trillion and an average daily transaction of about RMB7.6 billion, with a monthly average daily transaction of nominal principal increasing by nearly three times, from an average daily of about RMB3 billion in the first month of launch to an average of more than RMB12 billion per day in April 2024, providing convenience for domestic and foreign investors to carry out RMB asset allocation. Efficient risk management tools.
It is reported that the People's Bank of China, the Hong Kong Securities and Futures Commission and the Hong Kong Monetary Authority support the further optimization of the "Swap Connect" mechanism on the basis of fully summing up the experience of the "Swap Connect" operation and carefully listening to the opinions and suggestions of domestic and foreign investors. The first is to enrich product types and launch interest rate swap contracts with the settlement date of the international money market as the payment cycle, which is in line with the mainstream international trading varieties to meet the diversified risk management needs of domestic and foreign investors. The second is to improve the supporting functions, launch contract compression services and supporting historical value contracts, so as to facilitate participating institutions to manage the business scale of duration contracts, reduce capital occupation, and activate market transactions. In addition, the National Interbank Funding Center, the National Interbank Market Clearing House Co., Ltd., and the OTC Clearing Company Limited will simultaneously introduce other system optimizations and preferential measures to reduce the cost of business participation for domestic and foreign investors.
In the next step, the regulators of the Mainland and Hong Kong will guide the financial market infrastructure institutions of the two places to continue to promote the Swap Connect business cooperation in a steady and orderly manner, and continue to improve various mechanisms and arrangements, so as to help steadily expand the opening-up of China's financial market and consolidate and enhance Hong Kong's status as an international financial centre.
(Note: All text and images are from Wind.) ）
Editor: Joey
Review: Chen Mo