Yesterday, the Hang Seng index closing 15118.50 points, fall 0.12 per cent. Market value of the largest blue-chip HSBC Holdings fall 0.54% to HK $ 127.8, which dragged down the Hang Seng Index dropped 25 points, become one of the main disc adjustment.
HSBC Holdings net earnings rose 9 percent in the first half, to 75.96 billion and earnings per share $ 0.69, profitability than expected, the unit was in hot pursuit by the market. From the past 20 years of operational records, the unit has good prospects of doubt.
But the company's uncertain factors: on the one hand, the increase in corporate profits, the market slowdown worries about its full-year profits; on the other hand, Merrill Lynch, Morgan Stanley and many foreign companies have not yet been given great positive rating, this also reduces the confidence of investors.
Although the international oil prices remain high, but yesterday the Chinese petroleum stocks are unsatisfactory, run the h shares and therefore lose big city. Yesterday, the h-shares index closing 5323.18 points, one-day declines of 1.01%. Citi, the popularity of foreign investment on the H-shares see empty rhetoric has a negative impact, and the market value of the maximum of H shares oil plunged by 4.76% to HK $ 7.00, its decline is equivalent to the h-shares index fell nearly 60 points, this is dragged down h share the direct cause of the crash.
Experience selling in oil because: first, the market rumors unit God Buffett will reduce its holdings of h shares in oil. This rumor is not possible, as early as in April 2003, start skyrocketing market H-shares, shares in oil becomes God in the Hong Kong stock market's unique "love unit". Current share God's profits are up to 3 times, holding cash above reproach.
Secondly, the media, placing new oil may in the H-share, raising the scale up to 250 billion. This report was denied, but in oil in large enterprises have set off the Mainland overseas mergers and acquisitions on the occasion of the wave, has not been able to in A stock market on the smooth financing of oil, may need funding to achieve its overseas acquisition plan.
In addition, investors and the root cause of the black helicopters lies in petroleum currently overvalued. To the unit's 7.00 yesterday's closing prices, it is based on the 2004 profit earnings nearly 13 times, in a recent high point. Without the strong growth of results in support, it is difficult to avoid oil adjustment.
The adjustment in the oil will inevitably since the h-shares index to the larger role of the drag.
To make matters worse, due to high oil prices in the petrochemical production costs increase significantly and, therefore, the market value of the second h-share is very difficult to play support h-shares index run high.
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