The big city perspective: Hong Kong stocks short-term rise and wave not destroyed

First Shanghai securities market strategist Ye Shangzhi June 2. Hong Kong stocks rose three days after the profit-taking, the Hang Seng index rushed to the 19,000-point integer before the turn down, triggering a profit plate emerges. At present, Hong Kong stocks have risen to a new level of 8 months, whether the long or short positions, are in the face of great psychological pressure, as long as the market has a ding son of the trouble, investors will make a more intense response, thus exacerbating the volatility of Hong Kong stocks. 　　However, there is still no increase in market initiatives, and with capital flows maintained at a high level, we estimate that Hong Kong's sustainability will remain in good shape. Initiative sell not see active Hang Seng index in Tuesday appeared flat open low walk, return to vomit decline in midday plate obvious show, in Monday steal step fry high heavy stock? Greed Zheng Yu? (0005), the stock price appears the significant return to complete, is the main reason which drags down the market. The Hang Seng index closed at 18,389 points, down 500 points, and increased turnover to more than 101.8 billion yuan. At the present stage, Hong Kong's short-term surfing structure has not been seriously damaged, the recent large-cap stock formation of the rotation effect and high liquidity, are good for Hong Kong stocks internal factors. In fact, the plate on the initiative on the market did not see the active, the big city's short selling amount recorded only yesterday 4.81 billion yuan, bears are mainly targeted in the establishment of the greed hangings ⒄ line? 　　(3968) and BOC (3988), the recent sharp rise in these shares is a trigger for short positions. The AH-share premium narrowed to 20% H shares, which began to climb sharply since March, the index of state-owned enterprises has climbed 66%, recovering the rise of a shares in the first quarter, so that the premium of AH shares narrowed sharply, from 60% at the beginning of the year down to the current 20%, it is likely to reduce the enthusiasm of the capital in pursuit of H-shares. Therefore, the current trend of the mainland A-shares will have a greater impact on the H shares. 　　And the Shanghai Composite Index in Monday, after the high 2,688 point of innovation, build up the attack pattern, short-term still have the opportunity to try to rush high, the situation on the H-share should be favorable. Europe and the United States stock market to the 250-day line close to the basic factors of poor European and American stock market, and finally followed the Asia-Pacific market breakthrough, the U.S. stock Dow, S & P 500, the French CAC Index and the German DAX index synchronous innovation High, the material has a further upward to 250 daily average trend In the U.S. stock Dow, the current horizontal distance of 250 daily average 9,338 points still have 7% space, high pressure is not too heavy. In fact, after the announcement of U.S. General Motors ' bankruptcy filing in the evening of Monday, stocks did not rise and hit new highs, indicating the market's determination.