Hong Kong stocks fell nearly 3% early on the bottom of the initial support

HONG Kong stocks continued to adjust this week, even if the economic recovery and hot money continue to flow into the trend has not changed, the domestic A shares also strong higher, but in the U.S. and other outside the uncertain funds turned cautious, so as to guide the stock market to continue a small adjustment trend. After the bottoming out of the index, it still closed down 494.98 or 2.8% in the whole week, and reported 17708.42 points;　　State-owned enterprises in the latter part of this week also did not show sufficient low to undertake, eventually failed to regain the first half week of decline, the state-owned enterprise index eventually fell 409.35 points or 3.87%, reported 10574.42 points, run the Hong Kong stock market. Although the city short-term into the adjustment, but the big blessing is firmly believe that the city will continue to see a rebound in July, as the June consolidation reflects the market is digesting the relevant factors, and that commodity prices fall or only a short period of time, investors should grasp the leading raw materials and related shipping stocks opportunities. Morgan Stanley, although the short-term valuation of Hong Kong stocks is not attractive, but also refers to long-term bullish, as corporate profits have passed the lowest valley and are rebounding; the bullish forecasts for the next 12 months can be as high as 27,936, with a basic forecast of 17,754, and bullish on local banks and consumer stocks, which are relatively attractive for Citi is expected to adjust 10% to 15% in the summer, but it is also said to be taking advantage of low absorption, and is expecting a higher chance of a bull market.　　Refers to the second half of the performance of Chinese stocks can run to win the blue chip, which is more optimistic about real estate, finance and consumer shares, as the recent rise in property prices, government policy will help developers to increase the land reserve, and the recent rebound in investment climate will also help the banking sector wealth management revenue. In the blue-chip sector, Chinese stocks have failed to repeat the rise. China Resources Venture (00291-HK) has risen by more than 10% in the week, with 00330-HK 8% trailing the world's best, while the Chinese Unicom (00762-HK) has only 7.58% per cent of its top-performing domestic shares this week.　　China Shenhua (01088-HK) is the worst of the 10% drop in blue chips, and the real estate China Overseas Development (00688-HK) Dan Zhou also vomited more than 9%. Looking ahead next week, U.S. corporate earnings kicked off, with the first earnings show that Alcoa continued to lose in the two quarter, but better than analysts had expected, and that the number of jobless claims released in Thursday unexpectedly fell sharply to its lowest level this year;　　The next week should focus on a number of important U.S. economic data, such as retail sales, PPI,CPI, new house starts, and the second-quarter earnings of US companies, which will mark the recovery of the U.S. economy, where Hong Kong investors may seek more information.　　Appendix I: The first five stocks of blue chips rose in name and code----------closing----(%) China Resources Entrepreneurship (00291-HK)------16.92---11.61 global (00330-HK)------47.75----8.03 unicom (00762-HK)------10.78----7.58 Cathay (00293-HK)------11.06----7.17 China Life (02628-HK)------30.70----5.50 Schedule Two: The top five in blue chip decline this week　　Stock name and code-----------closing----decrease (%) China Shenhua (01088-HK)------26.10---(-10.00) China Overseas Development (00688-HK)--16.20----(-9.40) Merchants International (00144-HK)----20.85----(-8.55) New World Development (00017-HK)----13.04----(-8.04) China Petroleum (01088-HK)-------7.94----(-6.92)