Hang Seng Index hit a bottom and rebounded, closing down 1.58%. Net buying from the southbound market amounted to HKD 8.844 billion, with COUNTRY GARDEN falling more than 18%.
Most sectors are down, with new energy vehicles, real estate, semiconductors, and utilities leading the decline.
On August 14th, the three major stock indexes in Hong Kong opened lower, with the Hang Seng Index down 1.98%, the Hang Seng Technology Index down 2.7%, and the Hang Seng China Enterprises Index down 2.13%. After the opening, the three major indexes continued to be sluggish, and partially recovered in the afternoon.
The Hang Seng Index closed down 1.58%, the Hang Seng Technology Index closed down 1.52%, and the Hang Seng China Enterprises Index fell 1.79%.
Throughout the day, 392 companies rose, 750 remained unchanged, and 1,082 fell. The total turnover of the market was HKD 104.147 billion, and the net inflow of funds from the southbound trading was HKD 8.844 billion.
Technology stocks generally declined, with Ideanomics and XPeng Motors falling more than 3%, Alibaba, Baidu, and SMIC falling more than 2%, and Kuaishou falling nearly 2%. JD.com and Meituan fell more than 1%.
On the market, most sectors declined, with new energy vehicles, real estate, semiconductors, and utilities leading the decline.
Real estate continues to decline
CG SERVICES fell more than 11%, China SCE Group, KWG Group, and Ronshine China fell more than 10%, CG SERVICES fell nearly 10%, Hopson Development Holdings and R&F Properties fell 8%.
In terms of news, on the late night of August 12th, CG SERVICES Real Estate announced that it plans to hold a bondholders' meeting to discuss the arrangements for the repayment of the company's bonds. According to relevant regulations, upon the company's application, the trading of 21 Bi Di 01, 21 Bi Di 02, 21 Bi Di 03, 21 Bi Di 04, 22 Bi Di 02, and 22 Bi Di 03 corporate bonds will be suspended from the opening of the market on August 14, 2023, and the resumption time will be determined separately.
New Energy Vehicle Declines Lead the Way
DONGFENG GROUP fell more than 7%, BYD fell 6.2%, while Guangzhou Automobile Group, BAIC MOTOR, Great Wall Motors, and others followed suit.
Decline in Non-ferrous Metals
Semiconductor Downturn
HG SEMI fell 12%, SOLOMON SYSTECH fell more than 5%.
Telecommunications in the Green
China Unicom and China Mobile saw a slight increase.
