On the 22nd, the Hang Seng index opened higher in the morning and accelerated its rise in the afternoon, closing up 3.15% to 2188928 points, a closing high of more than two weeks; The Hang Seng technology index rose 5.37% to 4653.7. Science and technology network stocks and concept stocks in Hong Kong rose sharply, real estate and property management sectors rose, sports, electric power, insurance and non-ferrous metals sectors rose, and some anti epidemic concept stocks fell. Alibaba rose more than 11%, Netease rose more than 8%, JD group and meituan rose more than 6%, and Tencent holdings rose more than 4%; Hong Kong gas fell by more than 14% , China gas fell by more than 6007%.
Coal stocks were strong, with China Coal Energy Company Limited(601898) up more than 8%, Yankuang energy up 7.58%, and China Shenhua Energy Company Limited(601088) up more than 5%.
Domestic real estate stocks rose, new town development rose nearly 11%, Lvjing China real estate rose 8.75%, and country garden rose more than 8%.
In terms of news, after the closing of US stocks on March 22, Alibaba announced to expand the share repurchase scale from US $15 billion to US $25 billion, with a validity period of two years (as of March 2024). This is the second time Alibaba has expanded the repurchase scale in the past three quarters.
organization discussion
The fund manager of BlackRock, a global asset management giant, said that after the recent decline, the valuation of Hong Kong stocks has become “extremely attractive”, believing that this is the time to enter the long-term layout.
BlackRock Hong Kong stock connect vision hybrid fund manager said in a letter to investors that after the recent indiscriminate decline in the market, the valuation of many excellent Hong Kong stock listed companies may have entered the previous “dream” level.
