GuShiio.com ① The Hong Kong Stock Exchange is consulting on reforming the new share pricing mechanism and requirements
② The Hong Kong Monetary Authority launches a RMB 100 billion trade financing liquidity arrangement
③ Galaxy Securities expects Hong Kong stocks to fluctuate upwards
④ GAC Group’s car sales in January fell by more than 25% year-on-year
hot focus
1. On February 7, the China Securities Regulatory Commission issued and implemented the “Implementation Opinions on the Five Major Articles of Finance in the Capital Market” and proposed 18 policy measures. The “Implementation Opinions” focus on supporting the development of new productive forces, highlight deepening the comprehensive reform of investment and financing in the capital market, enhance institutional inclusiveness and adaptability, and promote factor resources to major strategies and key areas such as scientific and technological innovation, advanced manufacturing, green and low-carbon, and inclusive people’s livelihood. Areas and weak links gather. The “Implementation Opinions” mentioned that greater efforts should be made to support the issuance and listing of technology-based enterprises that break through key core technologies in new industries, new business formats and new technology fields; and the scope of long-term stock investment pilots for insurance funds should be expanded.
2. Data from the National Bureau of Statistics show that in January 2025, national consumer prices rose by 0.5% year-on-year and 0.7% month-on-month. In January, the ex-factory prices and purchase prices of industrial producers across the country fell by 2.3% year-on-year, the same declines as the previous month; both fell by 0.2% month-on-month.
3. The rise of DeepSeek has set off a wave of technology in the global capital market. Recently, many foreign institutions such as Goldman Sachs, Deutsche Bank, Bank of America, and BlackRock have expressed their optimistic attitude towards China assets and the A-share market. The revaluation of the value of China assets has become a trend that cannot be ignored. The reporter noticed that in overseas markets, many China stock ETFs have risen significantly recently, and their asset sizes have hit new highs or are close to historical highs; in the A-share and Hong Kong stock markets, foreign institutions have intensively researched and added positions in technology companies.
5. The Hong Kong Monetary Authority decided to use the currency swap agreement with the People’s Bank of China to launch the HKMA’s RMB trade financing liquidity arrangement to support banks in providing RMB trade financing to enterprises. The main points of this arrangement are as follows: The total amount of the entire arrangement is RMB 100 billion, which is about 10% of Hong Kong’s RMB capital pool and is of considerable scale. The interest paid by banks to the HKMA is based on the onshore RMB market interest rate plus 0.25%. According to the plan, the agreement will be officially launched on February 28.
6. Galaxy Securities Research News pointed out that in the short term, the DeepSeek craze and Spring Festival consumption data exceeding expectations have prompted more optimistic investor sentiment and led to an increase in the valuation of Hong Kong stocks. In the medium and long term, the market for Hong Kong stocks still depends on fundamentals. With the development of new productivity and the implementation of domestic consumption-promoting policies, the profits of Hong Kong stocks companies are expected to increase steadily. Overall, looking to the future, Hong Kong stocks are expected to fluctuate upwards. In terms of configuration, first, the technology sector still has high investment opportunities. Second, stimulated by domestic policies such as expanding domestic demand and stabilizing consumption, Hong Kong stock consumer stocks, which currently have relatively low valuations, are expected to rise. Third, amid the disturbance of overseas uncertainties, the high dividend strategy of Hong Kong stocks is still attractive, especially for the high dividend targets of central enterprises that actively carry out market value management.
global market
Last Friday, the three major U.S. stock indexes collectively closed down, with the Nasdaq falling 1.36%, the Dow falling 0.99%, and the P & P 500 Index falling 0.95%.
Most large technology stocks fell, with Tesla and Google falling more than 3%, Apple falling more than 2%, and Microsoft and Intel falling more than 1%.
Most popular Chinese stocks rose, with the Nasdaq China Golden Dragon Index rising 1.35%. Ideal cars rose by more than 4%, Alibaba rose by more than 3%, beer-beer
In terms of Hong Kong stocks, the three major indices surged higher last Friday and fell back. At the close, the Hang Seng Index and the National Index rose 1.16% and 1.22% respectively, while the Hang Seng Technology Index rose 1.8%. Among market performance, the technology index led the increase.
company news
GAC Group (02238.HK): Car sales in January were 98,400 units, a year-on-year decrease of 25.41%.
Meitu Company (01357.HK): Released Yingxi, it is expected that net profit attributable to the parent company in 2024 will increase by approximately 52% to 60% year-on-year.
Sunac China (01918.HK): Contract sales in January were 6.84 billion yuan, a year-on-year increase of 81.9%.
Swire Properties (01972.HK): Estimated net profit in 2024 will be approximately HK$6.5 billion.
Zhixing Automotive Technology (01274.HK): It plans to place up to 11.1902 million shares with a net raise of approximately HK$228 million.
