2023-12-22 12:12:37
The “public opinion” of game stocks turned to Red Sea-related hot spots after the market closed and bucked the trend | Hong Kong stock market weather vane
Feng Yi, Financial Associated Press
2023-12-22 20:12:37
Financial News Agency, December 22 (Editor Feng Yi) Hong Kong stocks opened higher and moved lower today. In the afternoon, gaming stocks plunged due to the negative impact. The stock prices of the two major industry giants Tencent and NetEase plummeted, triggering a chain reaction. Technology and Internet stocks followed the trend and fell. The short-term sentiment of the market quickly turned bearish. As of press time, the Hang Seng Stock Index fell 4.37%, the Hang Seng Index fell 1.69%, and the State-owned Enterprises Index fell 2.33%.
Let’s take a look at today’s market hot spots: Tencent and NetEase have plummeted, and short-term market sentiment has turned bearish; gaming stocks have been bearish, and positive views have frequently appeared after the market; ignoring the weakening of the market, the Red Sea hot spots have made a strong upward move.
[Tencent and NetEase are experiencing an avalanche and short-term market sentiment has turned bearish]
Today, gaming stocks led by Tencent and NetEase plummeted, with NetEase ultimately falling 24.6% and Tencent falling more than 12%. Heavyweight technology stocks collectively followed suit, with Bilibili falling nearly 10%. Kuaishou, Meituan, and Alibaba collectively fell, which had a significant impact on the broader market.
In terms of other hot topics, film, television, media, and software were all affected and led the decline, while sectors such as medicine, tourism, and securities also weakened.
The rising sectors are mainly concentrated in shipping, energy, gold, automobile and other industries.
Overall, affected by the news, some funds fled from the Hong Kong stock market today. The Hang Seng Index fell on heavy volume, with turnover of HK$141.163 billion throughout the day.
However, data disclosed by the Hong Kong Stock Exchange shows that a total of 614 Hong Kong stocks were short-sold on December 22, with a total short-selling amount of HK$15.307 billion. Judging from the proportion of short-selling funds, short-sellers did not take advantage of the sharp drop in the index to increase their positions, which deserves investors’ attention.
[“Public opinion” turned warmer after the negative news about gaming stocks]
Today, the attention of the Hong Kong stock market is attracted by gaming stocks. Including NetEase and Tencent, there are about 10 gaming stocks with double-digit declines today.
NetEase-S (09999.HK) even closed down 24.6%, its largest single-day decline since its listing.
It is worth noting that although all parties’ interpretation of the “Online Game Management Measures (Draft for Comments)” was relatively bearish during the session, there were also many positive voices after the session.
Tencent stated that there have been no fundamental changes to the game’s business model, operating rhythm and other key elements.
In addition, some public equity institutions also stated that the current supervision is still in the draft stage, and there may be room for relaxation in the final implementation.
According to an insider from the Game Working Committee, although the policy draft has triggered heated discussions, all walks of life can now speak freely about the draft to make it feasible and perfect.
On the whole, due to the sudden news, the short-term impact on gaming stocks is more emotional, and there may be room for a rebound in subsequent market expectations to improve. The trends of gaming stocks, NetEase and Tencent are still worth keeping track of.
[Ignore the weakening of the market and the hot spots in the Red Sea are on the rise]
On the other hand, although the market’s attention was diverted by the diving market of gaming stocks in the afternoon, the hot topics surrounding the recent Red Sea situation are still strong.
The shipping port sector continues to advance rapidly today. As the impact of the Red Sea escalates, the main contract of the domestic container shipping index (European line) surges again today, creating a positive stimulus.
In addition, the two major sectors of oil and gold also rose today, and were not affected by the plunge in gaming stocks.
The latest data shows that as of the 21st, cargo worth US$105 billion (approximately 750 billion yuan) has been diverted away from this route.
At the same time, market booking freight rates jumped sharply. This week, the Ningbo Shipping Exchange freight index index was 3649.5 points, an increase of 161.9% from last week.
Taken together, until the Red Sea situation sees signs of easing, related concepts may continue to remain popular.
Warning from the financial community: The content, data and tools in this article do not constitute any investment advice and are for reference only and do not have any guiding role. The stock market is risky, so be cautious when investing!
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