One,
The performance of Hong Kong stocks these past two days has been good, firmly holding above 20,000 points. Many partners who bought the dip below 20,000 on the Hang Seng Index must have made some gains. I personally bought the dip during the plunge caused by the incident on August 2nd. $XIAOMI-W (01810.HK)$and $CSOP Hang Seng TECH Index Daily (2x) Leveraged Product (07226.HK)$I've also exited, and the returns are satisfactory.
But after the market closed, my phone started receiving push notifications one after another from companies like $CHALCO (02600.HK)$、 $SHANGHAI PECHEM (00338.HK)$、 $SINOPEC CORP (00386.HK)$、 $CHINA LIFE (02628.HK)$、 $PETROCHINA (00857.HK)$among others, all of which filed for delisting with the U.S. SEC at almost the same time, using nearly identical language. This inevitably raised concerns about whether there were new complications arising from the previous audit document issue.
Affected by this, Chinese concept stocks initially only saw a minor drop in pre-market trading in the U.S. Later, during the CSRC meeting, it was explained that the ADRs of these companies account for a very low proportion of their listings in the U.S., and maintaining the listing incurs costs. The decision to delist was based ontheir own business considerations.
It seemed fine until this explanation triggered an immediate crash scene. Whether it was $HSI Futures Current Contract (HSIcurrent.HK)$Still...