The Economic Times News Agency reported on the 30th: U.S. Treasury bonds were continuously sold off overnight, with the yield on 10-year Treasury bonds hitting a 19-year high and the yield on 30-year Treasury bonds reaching a 24-year high. However, New York Fed President Williams stated that the Fed still has time to observe data before deciding whether to raise interest rates, causing interest rate hike expectations to ease slightly. Market sentiment in Hong Kong remained sluggish ahead of the holiday, with main board turnover amounting to HK$187.1 billion, continuing to stay below the HK$200 billion level. Nevertheless, northbound funds bought aggressively before the long holiday, with net inflows reaching HK$6.9 billion. The Hang Seng Index opened more than 100 points lower this morning but did not fall below the 24,300 level, and rebounded with support from northbound funds. It closed the day at 24,613, up 89 points or 0.4%. The Hang Seng China Enterprises Index closed at 8,220, up 41 points or 0.5%. The Hang Seng Tech Index closed at 4,253, up 4 points or 0.1%.
Biotech stocks attracted capital inflows ahead of the holiday, with major blue-chip stocks collectively performing strongly. CSPC Pharmaceutical Group (01093) rose 6.28% to HK$10.07, gaining for three consecutive days with a cumulative increase of 7.93%. Hansoh Pharmaceutical (03692) rose 5.31% to HK$35.3, WuXi Biologics (02269) gained 4.77% to HK$56.05, WuXi AppTec (02359) rose 3.56% to HK$215.2, Sino Biopharmaceutical (01177) increased 2.88% to HK$5.71, BeiGene (06160) rose 3.49% to HK$225.4. Meanwhile,康方生物 (09926), a constituent of the H-share index, closed up 2.26% at HK$108.7.
China will implement mortgage interest subsidies for first-time homebuyers nationwide starting October 1. Mainland property stocks appeared to have been speculated upon yesterday (29th), rising on rumors, but retreated this morning before trading mixed during the session. Longfor (00960) fell 1.3% to HK$5.695, China Overseas (00688) dropped 1.57% to HK$13.16, China Resources Land (01109) rose 0.33% to HK$30.56, Country Garden (02007) gained 3.68% to HK$0.197, and Vanke (02202) fell 0.71% to HK$2.79.
New York Fed President Williams said that if the economy develops broadly in line with expectations, it might be appropriate for the Fed to raise interest rates once more later this year, but after the September hike, authorities do not need to rush into the next move. Hong Kong property stocks initially traded mixed in early trade but showed clear gains during the session. Henderson Land (00012) rose 1.44% to HK$26.74, Sun Hung Kai Properties (00016) gained 0.56% to HK$108.5, New World Development (00017) rose 0.92% to HK$6.05, and CK Asset (01113) increased 0.17% to HK$46.74.
Among tech and internet stocks, Meituan (03690) rose 1.77% to HK$71.7, Alibaba (09988) gained 0.38% to HK$106.6, Baidu (09888) rose 1.06% to HK$85.8, Kuaishou (01024) increased 2.31% to HK$30.94, while Tencent (00700) fell 0.23% to HK$431.
China's official manufacturing PMI for September rose to 50.1, in line with expectations, but domestic demand-related stocks remained weak. Midea Group (00300) fell 2.74% to HK$92.25, Mengniu Dairy (02319) dropped 1.45% to HK$17.62, China Resources Beer (00291) fell 1.38% to HK$18.59, and Li-Ning (02331) declined 1.12% to HK$12.39.
The RMB 250 billion fund for trade-in programs in mainland China has been fully allocated. Midea Group (00300) fell 3.22% to HK$91.8. Other consumer stocks also weakened: Mengniu Dairy (02319) dropped 0.22% to HK$17.84, China Resources Beer (00291) fell 0.37% to HK$18.78, and Li-Ning (02331) declined 0.32% to HK$12.49.
Hua Hong Semiconductor (01347) fell 1.22% to HK$105.4, China Life (02628) dropped 2.36% to HK$28.12, and Geely Automobile (00175) fell 2.87% to HK$14.55.
The top three most actively traded stocks on the Hang Seng Index, H-share Index, and Tech Index were Tencent, Alibaba, and SMIC (00981). SMIC closed at HK$60.65, down 0.7%. (ey)
Biotech stocks attracted capital inflows ahead of the holiday, with major blue-chip stocks collectively performing strongly. CSPC Pharmaceutical Group (01093) rose 6.28% to HK$10.07, gaining for three consecutive days with a cumulative increase of 7.93%. Hansoh Pharmaceutical (03692) rose 5.31% to HK$35.3, WuXi Biologics (02269) gained 4.77% to HK$56.05, WuXi AppTec (02359) rose 3.56% to HK$215.2, Sino Biopharmaceutical (01177) increased 2.88% to HK$5.71, BeiGene (06160) rose 3.49% to HK$225.4. Meanwhile,康方生物 (09926), a constituent of the H-share index, closed up 2.26% at HK$108.7.
China will implement mortgage interest subsidies for first-time homebuyers nationwide starting October 1. Mainland property stocks appeared to have been speculated upon yesterday (29th), rising on rumors, but retreated this morning before trading mixed during the session. Longfor (00960) fell 1.3% to HK$5.695, China Overseas (00688) dropped 1.57% to HK$13.16, China Resources Land (01109) rose 0.33% to HK$30.56, Country Garden (02007) gained 3.68% to HK$0.197, and Vanke (02202) fell 0.71% to HK$2.79.
New York Fed President Williams said that if the economy develops broadly in line with expectations, it might be appropriate for the Fed to raise interest rates once more later this year, but after the September hike, authorities do not need to rush into the next move. Hong Kong property stocks initially traded mixed in early trade but showed clear gains during the session. Henderson Land (00012) rose 1.44% to HK$26.74, Sun Hung Kai Properties (00016) gained 0.56% to HK$108.5, New World Development (00017) rose 0.92% to HK$6.05, and CK Asset (01113) increased 0.17% to HK$46.74.
Among tech and internet stocks, Meituan (03690) rose 1.77% to HK$71.7, Alibaba (09988) gained 0.38% to HK$106.6, Baidu (09888) rose 1.06% to HK$85.8, Kuaishou (01024) increased 2.31% to HK$30.94, while Tencent (00700) fell 0.23% to HK$431.
China's official manufacturing PMI for September rose to 50.1, in line with expectations, but domestic demand-related stocks remained weak. Midea Group (00300) fell 2.74% to HK$92.25, Mengniu Dairy (02319) dropped 1.45% to HK$17.62, China Resources Beer (00291) fell 1.38% to HK$18.59, and Li-Ning (02331) declined 1.12% to HK$12.39.
The RMB 250 billion fund for trade-in programs in mainland China has been fully allocated. Midea Group (00300) fell 3.22% to HK$91.8. Other consumer stocks also weakened: Mengniu Dairy (02319) dropped 0.22% to HK$17.84, China Resources Beer (00291) fell 0.37% to HK$18.78, and Li-Ning (02331) declined 0.32% to HK$12.49.
Hua Hong Semiconductor (01347) fell 1.22% to HK$105.4, China Life (02628) dropped 2.36% to HK$28.12, and Geely Automobile (00175) fell 2.87% to HK$14.55.
The top three most actively traded stocks on the Hang Seng Index, H-share Index, and Tech Index were Tencent, Alibaba, and SMIC (00981). SMIC closed at HK$60.65, down 0.7%. (ey)
