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Hong Kong stocks closing (07.26) | Hang Seng Index rose by 0.1%. Home appliances and machinery stocks rose due to policy stimulus, while East Buy (01797) plummeted by 23%.
Today, the three major stock indices in Hong Kong rose and fell, all rising more than 1% in early trading before exhibiting a weak and volatile trend for the rest of the day. At the close, the Hang Seng Index rose 0.1% or 16.34 points to close at 17021.31 points.
"Hong Kong stock" Hang Seng Index rose 16 points, household appliances and heavy equipment stocks rose sharply, and East Buy selection fell 23%.
The US economy grew more than expected last quarter. The Dow rose 81 points or 0.2% on the evening of the 25th, and the Hong Kong stock market rebounded with the external trend. The Hang Seng Index opened high by 74 points, rose 224 points in the early stage to 17,229 points, and then fell back. It once fell 80 points to 16,924 points, rose 16 points or 0.1% in the whole day, and closed at 17,021 points. The HSI Tech Index rose 22 points or 0.7%, and closed at 3,443 points. The total turnover of the market for the whole day was 104.67 billion yuan, and the net inflow of southbound transactions of Shanghai, Shenzhen and Hong Kong stock connect was 5.791 billion and 4 billion yuan respectively.
Hang Seng Index rose 28 points in half a day, with electronic related stocks being popular. Eastbuy fell 21%.
The US economy grew better than expected in Q1. The Dow rose more than 500 points the night before (25th) and closed up 81 points or 0.2%. Hong Kong stocks rebounded with the external market in the morning, and the Hang Seng Index opened high with 74 points, rose 224 points in the initial stage, saw 17,229 points and then fell back. It had previously fallen as much as 80 points to 16,924 points and then rose 28 points or 0.17% in the morning and reported 17,033 points. The national index fell 4 points or 0.1%, reported 6,012. The Hang Seng Technology Index rose 22 points or 0.7%, reported 3,443. The total turnover of the market in half a day was 60.193 billion yuan. The net inflow of Shanghai, Shenzhen and Hong Kong Stock Connect transactions was 2.42 billion and 14.88 billion respectively.
Major bank rating|Bocom Intl expects Sinotruk, Weichai Power, BYD, Ideals, and Nio Inc to benefit from the old-for-new policy.
On July 26, Gelunhui reported that the NDRC and the Ministry of Finance jointly released "Several Measures to Further Support Large-scale Equipment Updates and Old-for-New Consumption." The Measures increase subsidies for consumers who trade in passenger vehicles for new ones. The subsidy standards for replacing new energy passenger vehicles or passenger vehicles with exhaust capacities of 2.0 liters or less have been increased to RMB 0.02 million yuan (up from RMB 0.01 million yuan) and RMB 15,000 yuan (up from RMB 7,000 yuan) respectively. According to Bocom Intl, this new stimulus policy is significantly stronger than that at the end of April, which will further urge the update of old heavy trucks to low-emission ones and accelerate the phase-out of old fuel-powered passenger vehicles.
BOCOM Intl: Strengthening equipment update and trade-in policies will benefit sales of electric vehicles and Henry Hub natural gas heavy-duty trucks.
On July 25th, the National Development and Reform Commission and the Ministry of Finance jointly released several measures to support large-scale equipment renewal and consumer goods exchange programs.
Express News | Heavy equipment stocks rise, Sinotruk up over 11%.
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