Asian stocks were much higher, Japan, China and Hong Kong were down.
Hong Kong and China opened strongly but came out of the morning highs on the day of the negotiations. The CNY retreated against the US dollar after yesterday’s big rally, with the Asian dollar index weakening overnight. There was little news overnight, though an announced cigarette tax weighed on “vice” stocks, adding liquor stocks Kweichow Moutai, which fell -4. 31%, and Wuliangye Yibin, which fell -4. 39%, both of which are heavyweights in China’s onshore index.
The most traded stocks in Hong Kong were Tencent, which gained 0. 76%, Alibaba HK, which gained 4. 09%, Meituan, which gained 1. 62%, Hong Kong Exchanges, which fell -3. 34%, and JD. com HK, which gained 5. 86%. Hong Kong-listed web stocks had a smart day, but not as smart as their US-listed counterparts. in short hedging of U. S. -listed Chinese stocks (ADRs)U. S.
Hang Seng and Hang Seng Tech gained 0. 72% and 1. 11%, respectively, in a volume that was down -5. 98% from yesterday, or one hundred percent from the 1-year average. Array 279 shares rose while 198 fell. Lead Consulting’s earnings were down -1. 49% from yesterday, which is 96% of the 1-year average, and 16% of overall earnings are short earnings. Value and expansion points combined when giant capitalizations outperformed small caps. The most sensitive sectors were Materials 2. 64%, Discretionary 2. 61% and Technology 1. 06%, while Utilities fell -2. 77%, Array Real Estate -2. 26% and Healthcare -0. 92%. The main subsectors were retail, insurance and semiconductors, while the worst were automotive, capital goods and utilities. Southbound Stock Connect volumes were strong, with mainland investors buying Hong Kong shares worth $709 million, Tencent and another giant net long, Meituan a moderate net long and Kuaishou a small net length.
Shanghai, Shenzhen and STAR Board combined -0. 55%, -0. 64% and 0. 17% in volume 1. 17% as of yesterday, or 94% of the 1-year average. 2,464 shares rose while 2,048 shares fell. Value points outpaced expansion drivers, with small-cap companies outperforming giants. The communication and real estate sectors were the only positive sectors to gain 0. 64% and 0. 02%, while fundamental goods fell -4. 14%, utilities fell -4. 1% and industry ended -1. 89%. Subsectors included valuable metals, software, and the Internet, while alcoholic beverages, power generation, and healthcare/biotechnology were among the worst. Northbound Stock Connect volumes were high/moderate, with foreign investors buying $132 million worth of mainland shares. Bonds rose with the 10-year Treasury yield by 2%. CNY fell -0. 77% against the US dollar to 7. 22 and copper gained 1. 1%.
Country performance
Stock Market Performance
Top 10 in Hong Kong
China’s Top 10