This year, the Hong Kong stock market fell more than rose. Except for investors, the MPF of wage earners generally lost their hands. According to the MPF rating of MPF research institutions, the book loss of MPF in September is estimated to be about 82.1 billion yuan, and 4.57 million strong The average book loss of each MPF member in September was about 18,000 yuan. In the third quarter, the book loss was about 23,200 yuan. In the first nine months of this year, it was 258.9 billion yuan. The average accumulated book loss of each MPF member was about 56,700 yuan. According to statistics from the Census and Statistics Department, the median monthly employment income of Hong Kong people is 20,000 yuan, which means that the average person has lost nearly three months of income. Although the loss is only a book value, and one day does not count as a loss, but the mood of the wage earner is not immune to the impact.
MPF has original sin to solve
MPF investment is not limited to Hong Kong stocks. Other options include U.S. stocks, global stocks, bonds, etc. However, the U.S. dollar stands out this year. Except for holding U.S. dollars to earn interest, almost all other purchases of gold, foreign currencies, bonds, and commodities will lose money. The biggest reason for this is that the United States collects water. Since the financial tsunami, the U.S. Federal Reserve has basically solved all problems by releasing water, creating prosperity and creating jobs. However, with soaring inflation threatening price stability, the U.S. Federal Reserve has chosen between raging inflation and recession. The answer is the latter. Under the two-pronged approach of raising interest rates and collecting water, all asset prices fell. Investments have ups and downs, and the cycle is endless. The original sin of MPF lies in the involuntary nature of contributions, so when the market goes up and makes money, no one will thank you. It is necessary for the top management of the MPFA to use their brains.
In addition to the loss of investment, this week, the chain bakery chain reported a lack of MPF contributions. It can be seen that the operating pressure of local SMEs under the epidemic situation may be felt by the government. The epidemic prevention measures have been loosened in the past two weeks. Chung estimates that the days of “0+0” are not far away. The President of the HKTB, Cheng Dingyi, revealed that the plan will cost at least 100 million yuan. After customs clearance, the Hong Kong plan will be launched globally, including the launch of five experience activities, visits to enjoy all-round discounts, Take the initiative to attract passengers to come back, including the “big giveaway” of 500,000 air tickets to global passengers. These air tickets were purchased by the AA from airlines in 2020 as a measure to ease the aviation industry, but they have never had the opportunity to send them. . In anticipation of the return of tourists, shopping mall stock Wharf Properties (1997) jumped nearly 5% to close at 39.2 yuan.
Cathay Pacific (293) has become a target every time it trades through customs. The stock jumped 3.5% to 8.63 yuan yesterday. From the perspective of government measures, connecting to the international market is the only option, and it must be implemented quickly. Most of the travel retail stocks are currently at a low level, and there are many stocks and high-level stocks that are only 30% or 40% off. , there should be a lot of potential objects.
The Hang Seng Index closed at 18,012 points yesterday after rising by 1,000 points, down 75 points, and held steady at the 18,000-point mark, with a modest correction. The H-Share Index fell 39 points to close at 6185 points; the KSE Index fell 24 points to close at 3660 points. The market turnover was 62.4 billion yuan, the lowest since December 10, 2019.
Auto stocks are under heavy selling pressure. BYD (1211) fell 2.3% to close at 205 yuan; Xiaopeng (9868) fell 5% to its low of 43.05 yuan since its listing in Hong Kong; NIO (9866) fell 6.6% to close at 125.1 yuan; 2015) fell 1% to close at 94.6 yuan; Leap Motor (9863) fell 4.9% to close at 24.1 yuan; Geely (175) fell 3.8% to close at 11.06 yuan; Brilliance (1114), which fell sharply on Wednesday, dropped another 16% to close at 24.1 yuan 2.26 yuan.
Mainland property and property management stocks continued to be weak. Country Garden (2007) fell 3.5% to close at 1.89 yuan; Country Garden Services (6098) fell 1.6% to close at 12.18 yuan; Longfor (960) fell 1.8% to close at 24 yuan; Rundi (1109) fell 2.4% to close at 32.5 yuan; CIFI (884), which was recently downgraded by rating agencies Fitch and Standard & Poor’s, plunged 15.3% to close at 0.72 yuan; fellow CIFI (1995) plunged 7.8% to close at 2.73 yuan. In terms of new stocks, the first listed China Innovation Airlines (3931) did not rise or fall, and closed at 38 yuan; the same day, Amy Vaccine (6660), which was listed on the same day, rose 3% to close at 16.66 yuan.
Jin Riku