Post Party Congress Pivot Rau Economy Lifts Stocks

Xov Xwm Tseem Ceeb

Cov khoom lag luam Asian muaj hnub zoo nrog Hong Kong thiab Tuam Tshoj ua tau zoo dua thaum Is Nrias teb muaj hnub so rau Diwali.

Hnub no tus catalyst yog nag hmo xov xwm uas PBOC (Tib neeg lub txhab nyiaj ntawm Tuam Tshoj) thiab SAFE (State Administration of Foreign Exchange) tau ntsib "Strengthen departmental kev koom tes los tswj kev noj qab haus huv txoj kev loj hlob ntawm cov Tshuag lag luam, daim ntawv cog lus thiab cov khoom vaj khoom tsev. Suab zoo li lawv nkag siab txog cov teeb meem / kev pheej hmoo ntsib Tuam Tshoj txoj kev lag luam thiab txaus siab los daws nws. "… tuav txoj kev loj hlob tsim nyog ntawm tag nrho cov nyiaj txiag thiab qiv nyiaj, nce kev txhawb nqa rau thaj chaw tseem ceeb xws li kev tshawb fawb thiab thev naus laus zis ... ". Suab zoo li kev sib xyaw ntawm kev txhawb nqa nyiaj txiag thiab nyiaj txiag. Tsis tas li ntawd, lawv tau hais tias "Peb yuav txhawb nqa ob txoj hauv kev qhib kev lag luam nyiaj txiag thiab txhawb nqa kev vam meej thiab kev loj hlob ntawm Hong Kong thoob ntiaj teb chaw nyiaj txiag." Qhov no tau yoov tag nrho ntawm lub ntsej muag ntawm kev tshaj xov xwm hais tias Tuam Tshoj tab tom kaw rau kev lag luam tom qab Thawj Tswj Hwm Xi tau txhawb nqa cov phooj ywg.

Peb tau tshaj tawm peb qhov "Rov Qab Mus Ua Lag Luam" thesis uas tom qab Party Congress, tsoomfwv yuav pivot los ntawm kev ua kom lawv muaj haujlwm rau tsib xyoos tom ntej kom ruaj ntseg kev lag luam thiab cia siab tias yuav txhim kho kev sib raug zoo ntawm kev sib raug zoo. Lub Xeev Pawg Neeg Saib Xyuas Tshiab kuj tau ntsib txhawm rau txhawm rau tshuaj xyuas Party Congress, uas dua, Thawj Tswj Hwm Xi tau hais rau hnub Sunday dhau los tau tsom mus rau kev lag luam. Kev lag luam tau txais cov lus thiab ripped siab dua txawm hais tias tawm ntawm lawv qhov siab tshaj plaws nyob rau hauv ib hnub ntawm cov lus ceeb toom ntawm ib cheeb tsam hauv Wuhan muaj tus kabmob coronavirus. Lub nroog ntawd tab tom mus rau hauv kev cais tawm / kaw thaum lub chaw ua si Universal hauv Beijing kaw thaum Beijing tau tshaj tawm kaum xya tus neeg mob tshiab hnub no. Nco ntsoov covid yog thoob plaws Tuam Tshoj txawm hais tias peb tsis pom kev kaw txuas ntxiv mus rau kev cuam tshuam nyiaj txiag.

Kev saib xyuas kev noj qab haus huv yog qhov ua tau zoo tshaj plaws hauv Suav teb +6.97% thiab Hong Kong +4.78% tom qab nag hmo xov xwm tias cov tshuaj tiv thaiv inhalable tau pom zoo siv hauv Shanghai. CanSino Biologics (6185 HK) tau nce +20.6% hauv Hong Kong raws li cov tub ua lag luam pom tau tias yog lub tuam txhab koom nrog. Hong Kong cov khoom lag luam hauv internet ua tau zoo nrog Hong Kong lub tuam txhab lag luam hnyav tshaj plaws yog Tencent +2.52% tom qab pom lwm hnub muaj zog ntawm kev yuav khoom los ntawm Mainland cov tub ua lag luam ntawm Southbound Stock Connect. Meituan tau nce +5.02% txawm hais tias Alibaba HK poob qis -2.04% txawm hais tias thawj zaug qhia ntawm Singles Hnub ua ntej muag tau muaj zog. Kev ua haujlwm luv luv tau qeeb ob peb hnub dhau los txawm hais tias ntau tus neeg cov khoom lag luam pom luv luv muag kev lag luam nce ntxiv.

Ib qho kev tshawb pom nthuav dav nyob ib puag ncig cov lus xaiv hnub Monday tias ADR cov nyiaj tau raug tshem tawm. Nws hloov tawm tias ETF tus muab kev pabcuam tshem tawm Tencent, BaiduBIDU
, thiab Weibo los ntawm lawv cov ETFs vim muaj kev hloov pauv hauv lawv qhov kev ntsuas ESG. Kev muag tag nrho tsis yog qhov loj, txawm li cas los xij, cov lus xaiv tau pom meej meej rau hnub Monday lub meltdown. Rau kuv, qhov kev txav mus los yog lwm qhov teeb meem tsis sib haum xeeb. Lwm cov xov xwm loj hnub no yog CNY txaus siab +1.3% piv rau US duas kaw ntawm 7.17 los ntawm nag hmo 7.31 (nco ntsoov CNY quote yog txawv dua li feem ntau cov nyiaj raws li nws tau hais $ 1 = 7.17 renminbi yog li qhov poob qis yog qhov tsis txaus ntseeg txaus siab). Cov lus sib tham yog Suav tuam txhab nyiaj tau muag cov nyiaj US. Cov paj laum txiav txim tus nqi txiaj yog li ib tus neeg tsis tuaj yeem hloov pauv tus nqi nyob rau lub sijhawm ntev, tab sis qhov kev txav mus qeeb qeeb.

Lub Hang Seng thiab Hang Seng Tech tau nce +1% thiab +2.48% ntawm ntim -8.85% los ntawm nag hmo uas yog 106% ntawm 1-xyoo nruab nrab. 390 cov khoom lag luam tau nce thaum 99 cov khoom lag luam poob qis. Main Board luv muag turnover poob -4.94% uas yog 96% ntawm 1-xyoo nruab nrab li 16% ntawm trading yog luv. Tus nqi thiab kev loj hlob tau sib xyaw ua ke raws li cov kaus mom me me tshaj lub kaus mom loj. Cov khoom lag luam sab saum toj yog kev kho mob kaw txog +4.79%, tech tau nce +3.33%, thiab kev sib txuas lus +2.09%, thaum vaj tse poob -1.59%, zog -1.03%, thiab nyiaj txiag -0.27%. Cov khoom lag luam sab saum toj yog cov cuab yeej siv thev naus laus zis, cov cuab yeej kho mob, tsheb qhov chaw, thiab semis thaum lub zog, tsev txhab nyiaj, thiab cov cuab yeej yog qhov phem tshaj plaws. Southbound Stock Connect ntim tau siab vim tias cov neeg ua lag luam hauv av tau yuav $ 644 lab ntawm Hong Kong cov khoom lag luam nrog Tencent pom muaj zog yuav txawm tias ib nrab hnub Mondays ntawm HK $ 1.456 billion. Meituan pom muaj zog yuav ntawm HK $ 1.246 billion, Wuxi Biologics ib tug nruab nrab net yuav, thiab Kuaishou ib tug me me net yuav.

Shanghai, Shenzhen, thiab STAR Board tau nce +0.78%, +1.79%, thiab +3.29% feem ntawm ntim +13.65% los ntawm nag hmo uas yog 93% ntawm 1-xyoo nruab nrab. 3,670 cov khoom lag luam nce siab thaum 883 cov khoom lag luam tsis kam. Kev loj hlob yam tseem ceeb tshaj tus nqi tseem ceeb thaum lub kaus mom me me dua lub kaus mom loj. Cov khoom lag luam sab saum toj yog kev kho mob +7.14%, tech +5.35%, thiab kev sib txuas lus +3.75%, thaum vaj tse tau tawm -0.52%. Sab saum toj sub-sectors chemicals, software, thiab pharmaceuticals thaum kev ua liaj ua teb, thee, thiab vaj tse yog qhov phem tshaj. Northbound Stock Connect ntim tau nruab nrab raws li cov tub ua lag luam txawv teb chaws tau yuav $ 478 lab ntawm Mainland stocks. CNY tau nce +1.3% piv rau US $ kaw ntawm 7.17, thaum Treasury bonds tau txais thiab tooj liab +0.35%.

Hmo Kawg Ntawm Kev Sib Pauv Cov Nqi, Tus Nqi, & Liaj Teb

• CNY rau USD 7.17 piv rau 7.31 nag hmo
• CNY rau EUR 7.19 piv rau 7.21 nag hmo
• Tos ntawm 10-Xyoo Tsoom Fwv Nyiaj 2.70% piv rau 2.72% nag hmo
• Tos ntawm 10-xyoo Tuam Tshoj Kev Tsim Kho Nyiaj Txiag Nyiaj 2.86% tiv tiag 2.87% nag hmo
• Tus Nqi Tooj Liab + 0.35% dhau ib hmo