Hong Kong stocks continued to remain weak. The three major indexes rose and fell, including the Hang Seng Index fell 0.4%, fell below the 21000 point mark, and the Hang Seng technology index and state-owned enterprise index fell 0.54% and 0.97% respectively. The net outflow of funds from the South was HK $354 million, and the market turnover was less than HK $100 billion.
In terms of sectors, large technology stocks continued to weaken, with Netease falling the most, down more than 2%. Tencent, Alibaba, meituan, Baidu and Tencent generally fell slightly.
Cutting edge medicine, which soared more than 152% yesterday, continued its crazy rise, closing up 106.59% to HK $1.88. Since early April, cutting-edge medicine has increased by more than 1404%P align = “center” golden week is approaching, and gambling stocks rose
The mainland’s epidemic prevention measures to Macao have been relaxed since today, driving the general rise of gambling stocks in Macao. Among the major gambling stocks, Melco international rose higher, reaching 5.1% to close at HK $6.6.
The covid-19 virus infection response coordination center of the Macao Special Administrative Region government announced on the 19th that according to the epidemic situation in neighboring areas and through the joint prevention and control mechanism of Zhuhai and Macao, from 0:00 a.m. on April 20, people entering Guangdong Province through Zhuhai and Macao ports or waterways will resume the requirement of holding a negative nucleic acid test certificate within 48 hours after the sampling date, and those leaving for Guangdong will maintain the requirement of showing a negative nucleic acid test certificate within 7 days, Other requirements for epidemic prevention at borders are unchanged.
According to the previous epidemic prevention measures, people entering Macao through the Zhuhai Macao port must hold a negative nucleic acid test certificate within 24 hours after the sampling date. Wen Qihua, director of tourism of the Macao Special Administrative Region, told the media that in the past Easter holiday, the average number of visitors to Macao was about 18000 per day, and the mainland’s “May Day” golden week lasted five days, hoping to attract about 20000 passengers per day, totaling more than 100000 passengers.
Dahe believes that the relaxation of the nucleic acid test certificate for the entry of Guangdong Province to Macao will help Macao’s gambling industry bottom out in April. Affected by the epidemic situation in the mainland, Daiwa expects that the revenue of Macao’s gambling industry will continue to be weak in the short term. It is predicted that the average daily revenue in April will be between 100 million and 120 million Macao dollars, which may become the lowest monthly revenue since September 2020. The relaxation of epidemic prevention measures is also difficult to improve the industry fundamentals immediately. However, Daiwa stressed that it was still optimistic about the long-term prospects of Macao’s gambling industry and suggested that investors should choose high-quality companies with strong balance sheets such as Galaxy Entertainment under the long-term existence of covid-19 epidemicP align = “center” commodity stocks callback
The commodity sector, which flourished during the tense situation between Russia and Ukraine, corrected today due to different factors.
Yesterday, the International Monetary Fund released its latest quarterly global economic outlook, significantly reducing the global economic growth forecast for this year, and reducing the expected economic growth in 2022 and 2023 from 4.4% and 3.8% to 3.6% respectively. Against the backdrop of poor economic prospects, the US dollar exchange rate has continued to rise recently. Covid-19 epidemic once again threatens global demand. Under the action of multiple factors, international oil prices have fallen.
Oil stocks also fell significantly. CNOOC oilfield services and CNOOC both fell by more than 4%, while PetroChina and Sinopec fell by 2.91% and 1% respectively.
With the rise of the US dollar exchange rate, the price of gold also continued to fall, causing the general decline of gold stocks. The gold mining industry and Shandong Gold Mining Co.Ltd(600547) both fell by more than 8%, and Zijin Mining Group Company Limited(601899) which is favored by institutional funds recently also fell by nearly 8%.
In the non-ferrous metals sector, Minmetals resources fell more than 10% to HK $3.50 due to the stagnation of copper production in Peru.
Minmetals announced that on April 14 local time in Peru, members of fuerabamba community entered Las bambas real estate to protest that Las bambas did not abide by its social investment commitments, and some members of huancuire community also joined the protest. Recently, the current situation in Peru has continued to be turbulent, and there have been protests affecting the national mining and resource industry. This protest also occurred.
Peru’s minister of energy and mining, community members and Las bambas met on April 16, but no resolution was reached to end the impasse. For safety reasons, Las bambas will not be able to maintain copper production from April 20 (Peru time).
Minmetals Resources said that the follow-up meeting led by the office of the Prime Minister of Peru is planned to be held in the next few days and will update relevant progress in due course.
