Guo Jiayao, managing director of Amway Asset Management, said that US stocks rose first and then fell on Thursday, and then rose in the early part of the market, after which investors re-examined the impact of rising interest rates on the stock market. Technology stocks were sold off, dragging down the closing of the three major indexes. Among them, the Nasdaq fell more than 2%. The trend of the US dollar fell, the interest rate on US 10-year bonds fell back to 1.42 per cent, and gold and oil prices performed better. Hong Kong stock depositary securities are generally soft, and the market is expected to open lower in the early stages of the market. The mainland stock market repeatedly improved, the Shanghai Composite Index opened low and went high, closing up 0.7%, and the turnover on the Shanghai and Shenzhen stock markets reached the level of 1.1 trillion yuan.
Hong Kong stocks stabilized after falling for days, with the index falling as low as 23100 points, hitting a new low this year, followed by a technical rebound and a modest increase to close the market, with no active trading in the big market. Market sentiment continues to be cautious, there is little room for a short-term rebound in the index, there is an opportunity to try support at 23000 points again, and the rebound resistance is at 24000 points.
In addition, the China Association of Automobile Manufacturers predicts that total car sales in China will reach 27.5 million in 2022, an annual increase of 5.4 percent, of which sales of new energy vehicles are expected to reach 5 million, up 47 percent year-on-year. The China Automobile Association also estimates that next year, passenger car sales will be 23 million, up 8 per cent year-on-year, and commercial vehicle sales will be 4.5 million, down 6 per cent year-on-year. According to the association's forecast, car sales for the whole year will increase by 3.1% to 26.1 million units, while sales of new energy vehicles will soar 1.5 times to 3.4 million units, much higher than the 40% increase originally forecast by the association. Next year, the sales of new energy vehicles will continue to grow strongly, the relevant car factories and the upstream industrial chain will obviously benefit, and the outlook is still optimistic.
(the author is a SFC licensee and does not hold the above shares.)