crashbandicootskylander| Heavy-weight science and technology stocks drive Hong Kong stocks to concentrate capital into the two sectors

Source Finance Union

On April 23, Hong Kong stocks continued to be driven by the rise of heavy tech stocks, and the Hang Seng Index rose 1. 5%.Crashbandicootskylander.9% to close at 16828 pointsCrashbandicootskylanderThe Hang Seng Composite Index rose 3.4% to 3449 points. Turnover in the big market was HK $116 billion; Hong Kong stocks had a net inflow of HK $2.3 billion, with southward inflows focused on Chinese prefix energy, telecommunications, central state-owned enterprises and some leading science and technology networks.

From the perspective of the plate, consumer stocks such as catering, beer and sporting goods rose significantly.

Affected by the cooling of the geo-conflict situation in the Middle East, oil, gold, copper and other bulk prices fell back, gold and copper stocks retreated significantly, construction machinery stocks fell. Highly defensive industries, telecommunications, energy and utilities all lagged behind.

The rotation of funds highlights the shift in market style. Since March, the net inflow of southward funds into some leading science and technology network stocks, hardware, semiconductors, biopharmaceuticals and other high beta plates has increased significantly.

At present, with the stabilization of earnings expectations after the performance period, the improvement of dividend payout ability and the increase of repurchase and other actions, some economic leaders of excellent Hong Kong stock platform have begun to build up strength.

Yesterday, Kuaishou-W (1024.HK) rose 8.6%, Meituan (3690.HK) rose 8.0%, JD.com (9618 HK) rose 6.1%, Tencent, Baidu and Alibaba all rose, and Tencent (700HK) returned above HK $330.

There were 4.29 billion downloads of mobile games worldwide in March, an increase of 8.2% over the previous month. Mobile games stocks showed a strong performance, with the number of mobile games (HK) rising 12.8%.

The Ministry of Finance said that it will support the gradual increase in the buying and selling of treasury bonds in the open market operation of the central bank, will study the expansion of the variety and scale of government bond sales, and promise to give better play to the pricing benchmark role of the treasury bond yield curve, improve the efficiency of capital allocation, and strengthen the coordination between fiscal and monetary policies.