The big city perspective: The HSI is heading towards 20,000.

First Shanghai market strategist Ye Shangzhi July 20. Hong Kong stocks rose Fifth trading day, the market a breakthrough trip, the Hang Seng Index and state-owned enterprises index both rose through the June 12 highs, synchronized to create a new high this year. 　　At present, the turnover of the big city is further increased to more than 77.7 billion yuan, although it has not been able to reach the peak of June at 900 to 100 billion yuan per day level, but as we have pointed out in the recent report, because the stock index futures market has emerged in recent years, the situation for the recent rally in Hong Kong has added short-term momentum. The Hang Seng index rose 697 points in Monday, closing at 19,502, stepping out of a wave of five-and-a-year increases, with a cumulative rise of more than 2,200 points. In the context of an increase in the number of cases, the market conditions or there is the possibility of a rise to vomit. However, the current momentum of the Hong Kong stock is more resolute, in this wave of five even rising waves, the Hang Seng index has a third jump gap, indicating that the market is accelerating in the short term, we can confirm that the Hang Seng index has successfully exceeded the 17,000 to 19,000 points of the horizontal plate finishing situation, Market conditions or there is a return to vomit, but the initial support level has been established at 19,000 levels, short-term waves are expected to further challenge the 20,000 point mark. 　　On the other hand, after a breakthrough in Hong Kong stocks, short positions to deploy the obvious convergence, yesterday sold only a record of 2.96 billion yuan, the proportion of total turnover of less than 4%. The weight of large area to break through the weight of HSBC (0005) Lianhe 5th, closed to 70.45 yuan, broke the two-month trend of sideways. The quarterly performance of the US financial unit is expected to be satisfactory, especially since the quarterly bulletin of Citigroup and Bank of America was released in Friday, reducing the market's climate of wait-and-see, the conditions for a breakthrough on the exchange control, the stock price will continue towards the 250 daily average of 74.6 yuan. Benefited from the mainland a-share continued to innovate high trend, coupled with AH-share speculation theme, the mainland insurance shares of H-shares to create a recent new highs, Ping An (2318) and Chinese longevity (2628) Yesterday Rose 10.27% and 6.49% respectively, while China Life's current AH-stock spreads the biggest, a-share share price after the exchange rate calculation than the H-shares more than 10%, there is the opportunity to become the target of capital pursuit. Local property stocks have also seen a strong initial signal, and the sale of new flats over the weekend was a source of stimulus to the stock price, with Sun Hung Kai Estate (0016) and the Hong Kong Railway (0066), which owns the right to develop the property at the rail station, took the lead in creating a record high.