The Hong Kong stock market maintained weak volatility, with the Hang Seng Index briefly falling below 24,000 points and finally closing up 0.06% at 24,127.85 points.
The Hang Seng Tech Index has fallen for five consecutive days, dropping by 0.98% today to 5,642.91 points.
The total daily turnover was 115 billion Hong Kong dollars, with a net inflow of 1.8 billion Hong Kong dollars from southbound funds.
Specific to the sector, real estate-related sectors benefiting from policy bullishness surged significantly, with mainland property management stocks and real estate developers' sectors rising by 5.97% and 4.56% respectively.
Market expectations are that tomorrow the 5-year LPR may decrease, which will reduce interest expenses for new home buyers and provide support for property sales. The interest rates for those already repaying loans will remain unchanged. Mortgage rates are based on the 5-year LPR rate, adjusted annually, and this year's adjustment window has passed.
At the close, there was also a bullish news that the management reportedly plans to relax the use of presale funds by developers of commodity housing. This will help address the industry's liquidity issues and is also a hope to stabilize the real estate industry. However, for real estate companies with significant funding holes, it only reduces or postpones the intensity of crisis eruption.
The rise in the real estate sector also boosted the rebound of construction materials and home appliances in the real estate chain, especially the construction materials sector which rose by 4.3% today.
After the opening of the CXO sector today, it encountered market selling, plummeting straight down, leading the Hong Kong stock market decline.
As one of the leaders in the CXO sector, Wuxi Apptec announced yesterday that its 2021 performance is expected to exceed market expectations. The company expects to achieve a net income of 4.973 billion yuan - -5.032 billion yuan, a year-on-year growth of 68.00% - 70...