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The taste of global funds has changed dramatically and technology stocks have plummeted as a result. Among them, the shares of Hong Kong ATMMX (Alibaba (09988), Tencent (00700), Meituan (03690), Xiaomi (01810)) were also severely damaged. For example, Alibaba fell nearly 10% today, The share price even fell below 50 antennas. It is worth noting that when tech stocks fell sharply, Beishui overtook the market and wiped out Tencent and Meituan recorded a total of nearly 10.55 billion yuan in net purchases today (11th).
Alibaba and Tencent fell, but purchases arrived, see[Pagina successiva]for details
According to data from Southbound Trading, Tencent’s net purchases today amounted to 6.76 billion yuan, while Meituan recorded 3.79 billion yuan. These two shares alone supported Southbound Stock Connect’s overall investment. Southbound Stock Connect is in Kingdee (00268), BYD (01211), etc. With a portion of the shares taking capital, the net inflow of funds today was 9.27 billion yuan.
Tencent’s US ADR rebounded slightly from Hong Kong prices after North Water Fishing. At around 11:15 pm local time, the converted Hong Kong price was brought back to 561.3 yuan, which was 10.3 yuan or 1.9% higher than the Hong Kong closing price.
Are you talking about a technological monopoly? See[Pagina successiva]for details
Tech stocks fell sharply, while some traditional economic stocks rose significantly relative to the market. Huo Huimin, a Chinese equity strategist at the Bank of Singapore, recalled that although the bank has always provided recommendations for low allocation of bank shares due to concerns about asset quality, the third quarter results of Chinese financial equities in the sector they were better than expected and the provision was even worse than in the second quarter. It is generally severe and the downward pressure on net interest margin is expected to be stable, so banking stocks are believed to have short-term investment opportunities and prefer stocks with a higher percentage of retail banking.
(Second Edition updates Tencent ADR share price)
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Publisher: Mo Yixi
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