《Experts' View》After a three-day long holiday, Hong Kong stocks opened 196 points lower yesterday (20th) and the downward trend was evident, dropping as much as 339 points to hit a low of 23,846. The Hang Seng Index closed at 23,867, down 319 points or 1.32%. Total turnover for the day was HK$190.455 billion; the Hang Seng China Enterprises Index closed at 8,030, down 97 points or 1.21%; the Hang Seng Tech Index closed at 4,045, down 62 points or 1.52%.
*Turnover remains below HK$200 billion, northbound funds record net outflow for fifth consecutive day*
Looking ahead, as the earnings season approaches, market sentiment remains cautious. Apart from the market turnover continuing to stay below HK$200 billion, northbound funds were also absent, recording another net outflow of over HK$1.7 billion for the day, marking the fifth consecutive trading day of net outflows, clearly weakening support for Hong Kong stocks. Since October, the Hang Seng Index has been fluctuating within the range of 23,800 to 24,500. The current level is approaching 23,800, indicating that the recent rebound is purely a technical recovery following a sharp decline, and the overall market's pattern of volatile downward movement remains unchanged.
On the data front, China's loan prime rate (LPR) for October remained unchanged for the 17th consecutive month, with the one-year and over-five-year rates staying at 3.0% and 3.5% respectively. The European Central Bank reported that the eurozone's seasonally unadjusted current account surplus narrowed to €7.7 billion in August from a previous surplus of €35.9 billion. On a seasonally adjusted basis, the eurozone's current account surplus in August narrowed to €8.7 billion from a previous surplus of €27.2 billion. Additionally, the UK Office for National Statistics reported that the number of people claiming jobless benefits in the UK increased by 30,300 in September, worse than the market expectation of an increase of 19,400, with the previous figure revised downward to an increase of 7,000. The UK jobless claims rate in September remained unchanged at 4.4%, the same as the previous value. Senior Independent Stock Analyst and PhD Candidate, Ho Chi Ming
*Articles published in ETNet with or without a byline are the authors' personal opinions and do not represent ETNet's stance. ETNet serves as a platform providing free expression of views.
*Turnover remains below HK$200 billion, northbound funds record net outflow for fifth consecutive day*
Looking ahead, as the earnings season approaches, market sentiment remains cautious. Apart from the market turnover continuing to stay below HK$200 billion, northbound funds were also absent, recording another net outflow of over HK$1.7 billion for the day, marking the fifth consecutive trading day of net outflows, clearly weakening support for Hong Kong stocks. Since October, the Hang Seng Index has been fluctuating within the range of 23,800 to 24,500. The current level is approaching 23,800, indicating that the recent rebound is purely a technical recovery following a sharp decline, and the overall market's pattern of volatile downward movement remains unchanged.
On the data front, China's loan prime rate (LPR) for October remained unchanged for the 17th consecutive month, with the one-year and over-five-year rates staying at 3.0% and 3.5% respectively. The European Central Bank reported that the eurozone's seasonally unadjusted current account surplus narrowed to €7.7 billion in August from a previous surplus of €35.9 billion. On a seasonally adjusted basis, the eurozone's current account surplus in August narrowed to €8.7 billion from a previous surplus of €27.2 billion. Additionally, the UK Office for National Statistics reported that the number of people claiming jobless benefits in the UK increased by 30,300 in September, worse than the market expectation of an increase of 19,400, with the previous figure revised downward to an increase of 7,000. The UK jobless claims rate in September remained unchanged at 4.4%, the same as the previous value. Senior Independent Stock Analyst and PhD Candidate, Ho Chi Ming
*Articles published in ETNet with or without a byline are the authors' personal opinions and do not represent ETNet's stance. ETNet serves as a platform providing free expression of views.
