Big City perspective: Hong Kong stocks still look at the rebound market

First Shanghai securities market strategist Ye Shangzhi July 15. Hong Kong stocks rose to the second trading day, the Hang Seng index more than 18,000 points. However, we believe that the Hong Kong stock market is still in the midst of a repeat process, pending a significant rebound in capital flows and a temporary failure to lead to a rally. 　　Short-term trading opportunities are still there, but in general it is the attitude of Bo bounce to enter, temporarily unfavorable to hold too optimistic view. Lack of capital flow with the Hang Seng index closed 18,259 points, up 373 points, turnover of more than 60.6 billion yuan. On the other hand, the Hang Seng index jumped in Wednesday, with the jump gap in the 17,896 to 18,030-point range, which is likely to be filled against the backdrop of a failure to strengthen the short-term momentum of the market. In fact, the Hang Seng index is still in the finishing stage after the rapid rise, in our earlier point of "not flush, fall down" in the state, in order to repeat the operation mode of consolidation. The Hang Seng Index on June 12, after 19,162 points, toppy to June 23 17,376, and then rebounded to June 30 on the high 18,883 point, and then fell to the lower 17,186 point of Monday, with the swimming squid to crisp diltiazem and rebound in Wednesday. Obviously, the recent relative highs of the Hang Seng index move from 19,162 to 18,883, and the relative lows move from 17,376 to 17,186, forming a wave-less development model, although the trend has not been particularly significant, but in the absence of capital flows, the 　　The Hang Seng index is difficult to get rid of the situation. On top of the current stage, the market wait-and-see atmosphere is still strong, the U.S. stock rally, the mainland a A-share continued to create high, but the Hong Kong stock failed to bring a strong stimulus, the funds dare not rashly chase the high market. The U.S. stock Dow on June 12 after 8,878 points after the adjustment, recently came to the 8, 000 point level, with the company's quarterly bulletin to rebound. The latest release of US investment banks, such as Goldman Sachs, is expected to be a boost to the stakes. However, the report card of US banks will be released, and the Quarterly Bulletin of Citigroup and Bank of America will be published in Friday, one of the biggest concerns of the market. In fact, the first-level micro-wave top of the U.S. stock market at 8,580 points, the index must first rise through the chart resistance level to reverse the adjustment of the weak. On the other hand, the Shanghai Composite Index continued to peak, the rally and technical indicators of the back of the situation has yet to be improved. The Shanghai Composite Index closed at 3,188 points, deviating from the 50 daily average of 2,818 points and 13.1%, and the pressure to pull back is increasing.