The Hang Seng index is restricted by the short line continuous consolidation

HONG Kong stocks 7th talk about market-Jinghua Mountain a Deng Yixu Hong Kong stocks last week followed the periphery decline, the Hang Seng index closed at 16,791 points, the whole week fell 599 points, a decrease of 3.4%.　　The market turnover surged, with an average daily transaction amount of HK $87.7 billion, which was 4.3% higher than the previous week, while the HK $146.6 billion deal in Wednesday was the largest since the beginning of last year, mainly affected by the CCB rights issue. Among the classification indices, the shares of the financial and state-owned enterprises were sold down by 4.5% and 4.4% respectively.　　In the past two weeks, the increase in the blue-chip market is selling pressure, of which more than 8% of the shares are: Chinalco (02600.HK), Construction Bank (00939.HK), Bank of East Asia (00023.HK), China Merchants International (00144.HK) and the Hong Kong Exchange (00388.HK). Bank of America last week placing construction Bank, set up 56.7 billion Hong Kong dollar, on the same day, CCB also appeared a number of small but unidentified sellers, the issue of rights, resulting in the last Wednesday, about half of the deal is the CCB shareholder rights raised amount.　　It is estimated that investors will then reduce their holdings in the market immediately after receiving the goods. Hong Kong stocks have accumulated a lot of gains in the past two weeks and hot money has continued to pour into the territory. Hong Kong stocks once challenged the 250-day moving average last week, but there was a huge sell-off at high levels. US retail data were weaker than expected, deepening the adjustment of the market, and the Thursday index was a bigger 517 points. Blue chip after a round of selling pressure, short-term will maintain the vibration of the solid trend, two or three-line stocks are exerting force to fill up.　　The resistance level of the short-term Hang Seng index is still at 17,300 Point, near the year line, and the support position is at 15,000 points. In the United States, retail sales figures for April were still down 0.4%, although they were still negative compared with March. The rebound in December (1.7% and 0.4%) was mainly stimulated by tax rebates and social welfare promotion.　　The US unemployment rate is still soaring, and consumer confidence, which has rebounded in recent months, seems to have failed to reverse retail weakness. On Hong Kong's economy, Hong Kong's economy shrank by 7.8% in the first quarter, less than expected. This is the largest decline since the Hong Kong economy was hit hard by the Asian financial crisis in the 3rd quarter of 1998. The government has lowered its forecast for economic growth this year from 2% to 3% from its original contraction to 5.5% to 6.5%. The April unemployment figures are expected to rise to 5.4% this week. However, with the influx of hot money, the HKMA continued to inject Hong Kong dollars into the market, pushing the balance of the banking system higher to HK $257 billion.　　As hot money into the stock market and the property market, resulting in the recent rapid increase in Hong Kong stocks, the housing market stability, the credit crunch is estimated the worst time has passed. The Hong Kong and China Gas (00003.HK) beat the market last week, rising 4.85% against the city and closed at HK $15.56. The company disclosed that the volume of gas sales in Hong Kong fell by 2.7% in the first quarter of this year, but the volume of air sales in the mainland continued to increase. At present, the mainland's business profits account for about 25% of the group, with the annual increase of 5 to 8 projects in the mainland, believing that coalGas is expected to record steady annual income growth.　　Gas is a relatively strong resistance to the public utility shares can be adjusted to absorb. Investors can also consider collecting red chips China (Hong Kong) Oil (00135.HK) for long-term investment. The company's reorganization late last year revealed it would accelerate the development of its gas business. May 12 The company has been with Xi ' an Qing Jie energy technology and Hebei Province, China and the city gas formation of the joint venture company. It is estimated that China (Hong Kong) Oil will continue to acquire and obtain natural gas from its parent company. The company is planning to increase its turnover by 20 times to 100 billion yuan in 6 years, with an explosion of growth.