Financial Associated Press, May 2 (Editor Feng Yi) the first trading day in MayRouletteonlinefreeHong Kong stocks performed well. By the close, the Hang Seng Index was up more than 2%.Rouletteonlinefree.5%, above 18000 points in one fell swoop. The Hang Seng Technology Index rose 4.Rouletteonlinefree.45%, and the index of state-owned enterprises rose 2.60%.
Let's take a look at the hot spots in today's market, respectively: core technology stocks continue to be strong, with the Hang Seng Index standing above 18000 points; real estate and automobile sectors are among the top gainers, tourism concept speculation rebounded, and the Federal Reserve held back energy stocks collectively.
[core technology stocks continue to be strong Hang Seng Index above 18000 points]
Today, core technology stocks remain strong. Meituan is up nearly 9%, Kuaishou is up nearly 6%, JD.com and bilibili are both up more than 4%, and Tencent, Ali, Xiaomi and Baidu have all risen to varying degrees.
Other hot areas, real estate, cars, biomedicine led the rise, tourism concept stocks re-strong. Insurance, brokerages and other financial sectors also showed some performance.
DropRouletteonlinefreeIn the plate, oil and gas stocks led the decline, coal, electricity and other energy stocks followed the decline. Previously, the continuous rise of home appliances plate ushered in a pullback.
On the whole, the short-term offensive of the Hang Seng Index continued, hitting a new stage high of 18217.82 points today.
It is worth noting that although Hong Kong Stock Connect closed trading due to holidays, the Hang Seng Index remained at HK $100 billion for the whole day, reaching HK $115.912 billion.
In addition, the Federal Reserve announced the interest rate decision overnight to keep the benchmark interest rate unchanged, causing volatility in overseas markets. However, it is clear that the Hong Kong stock market has not been affected, which shows that market sentiment is high.
[real estate and automobile sectors led the rise in tourism concept speculation rebounded]
Today, the two major sectors of real estate and automobiles led the rise, playing a significant role in driving the market.
In terms of real estate, the central government supports the intensive introduction of policies, and the industry's "destocking" is expected to improve. Auto stocks are mainly catalyzed by the Beijing Auto Show and better delivery data in April.
In addition, the previous two days of continuous adjustment of the concept of tourism economy began to rebound in speculation, the data side also ushered in a positive verification.
The reporter learned from the National Railway Group that on May 1, the country's railways sent 20.693 million passengers, a record high in a single day.
On May 2, the country's railways are expected to carry 17 million passengers, and an additional 1094 passenger trains are planned. There is a strong demand for passenger travel during the May Day holiday, and the railway passenger flow remains high.
In addition, according to the Ministry of Transport, the cross-regional personnel turnover of the whole society was 204.147 million on April 30, an increase of 31.4 percent over the same period last month, an increase of 37.9 percent over the same period in 2019 and an increase of 22.6 percent over the same period in 2023.
It should be noted that due to normal trading in the peripheral markets during the holiday period, while the short-term strength of Hong Kong stocks is still dominated by trading funds, there is also the suspicion of speculation, which deserves the careful attention of investors.
[the Federal Reserve stands still and energy stocks fall back collectively]
With the announcement of the Fed's May interest rate decision, the most recent macro-level uncertainty has landed.
However, due to the Federal Reserve sitting still, and a number of data still imply inflation worries, the market expectations of the Fed interest rate cut further delayed, triggering some sectors to fall back, the energy sector bear the brunt.
Most obviously, oil stocks fell against the market today. Global oil prices fell sharply overnight, with WTI crude for June delivery down 3.6% to close at $79 a barrel. Brent crude for July delivery fell 3.4% to close at $83.44 a barrel.
Some analysts said that the recent interest rate cut to boost oil demand is expected to weaken. At present, the overall macro mood is on the neutral side. Although the rebound in US inflation has led to the weakening of market expectations of interest rate cuts, it has basically become a consensus in the current market that the economy is not in recession, and the delay in interest rate cuts does not significantly restrain the pricing of risky assets.