The worst market this year is Hong Kong stocks, and the worst among Hong Kong stocks is inner housing stocks. In the thunderstorm of defaults, many enterprises that we are familiar with have collapsed. This is a real change for the real estate industry, and it will be very difficult for many companies to appear on the rankings in the future.
My friends often ask me why the so-and-so stock has fallen so much. The short-term decline in stock prices is not entirely related to fundamentals, especially in Hong Kong stocks, which are dominated by international hot money, where exchange rates and liquidity have a great short-term impact on stock prices.
And compared with A shares, Hong Kong stocks have another feature, that is, they have very rich tools for shorting.We can often see all kinds of true and false gossip, and many of them have ulterior motives in hindsight, but for some industries that are particularly in need of credit, these news will indeed have a certain negative impact on the operation of enterprises. Real estate is one of them.
At the beginning of this year, when some real estate companies transferred their assets to the outside world, they were forced to cancel the transaction because their share prices were maliciously shorted, thus falling into the quagmire of default.
Take a look at some A-share real estate stocks, the fundamentals and operating ability are not outstanding, but because there is no malicious short tool, the market still gives a much higher valuation than Hong Kong stocks, and even the negative news will be much less. I believe that if many stocks were not in Hong Kong but in A shares, their market capitalization would at least double or even more than what they are now.
The collapse of many inner housing stocks began with the downgrades of the credit ratings of the world's three largest rating agencies.Since the beginning of this year, the three major institutions have even.