The correlation between Hong Kong stocks and A-shares is increasing, and Hong Kong stocks have a greater impact on A-shares. Hong Kong stocks fell for three consecutive days, and the market index fell by 4. 19% for three days. Banks, insurance, real estate, aviation, automobiles and other sectors led the decline, while blue-chip stocks such as Bank of China, Industrial and Commercial Bank of China, Bank of Communications, Air China and China Southern Airlines fell sharply across the board. These stocks were basically the heavyweights where the A-share SSE 50 was located, but the overall decline of resource stocks such as China Aluminum, Yanzhou Coal and China Shenhua was less than that of the previous three. Today, there is still one day for Hong Kong stocks to trade. If Hong Kong stocks continue to fall today, it will definitely have a greater impact on the opening of A shares next week. There are three main reasons for the sharp drop in Hong Kong stocks:
First, the rise in international oil prices is bad for the automobile and aviation sectors. Recently, the international crude oil price has been constantly strengthening, rising from USD/barrel in 65 yuan to USD 76/barrel, which is bad for the transportation sectors such as automobiles and aviation. Air China, China National Heavy Duty Truck, China Southern Airlines, China Eastern Airlines and Geely Automobile all fell sharply.
Second, the US dollar index continued to strengthen, and the yield of US bonds rose sharply, triggering a double whammy of emerging market stocks and bonds. The US dollar index rose again after the US announced the interest rate hike, rising from 93 to 96. The sharp rise in US bond yields also worries everyone. On Thursday morning, the yield of US 10-year treasury bonds rose by 4.9 basis points to 3.2 1%, the highest level since 201/year. The yield of this national debt on Wednesday created the biggest one-day increase since 20 16 years 1 1 month. Affected by this, emerging markets suffered a double whammy, with Turkish lira, Indian Rupee and Indonesian rupiah tumbling across the board.
Third, the IPO of Hong Kong stocks is equivalent to lowering the threshold for listing, which leads to the continuous breaking of the IPO of Hong Kong stocks. The new IPO policy launched by Hong Kong stocks on April 30th this year. The New Deal allows companies with different rights and unprofitable biotechnology companies to be listed in the Hong Kong stock market, and also allows companies listed in the United States to return to the Hong Kong stock market, which is tantamount to lowering the threshold for listing new shares. Since then, Hong Kong stocks have been falling all the way, and the listing of new shares triggered a wave of breaking. By September 4, Hong Kong stocks 1 18 of 43 new shares were broken, with a breaking rate of 82.52%.
Because many companies listed on the A-share market are also listed on the Hong Kong stock market, especially the SSE 50, which is basically a large-cap stock, if the Hong Kong stock market continues to fall today, the opening of the A-share market next week will definitely have a greater impact, especially the SSE 50, and the market will not be stable, and theme stocks and small-cap stocks will also be affected.