On February 6, 2024, a remarkable "Great Miracle Day" was staged in Hong Kong, with the Hang Seng Technology Index leading the way, with a large **675%, while the Hang Seng Index and the State-owned Enterprises Index each had a ** 404% and 491%。On this day, the market as a whole showed a strong momentum, especially in the real estate and technology sectors.
In terms of real estate stocks, Longfor Group, Midea Real Estate and Sunac China all recorded gains of more than 10%, while Country Garden and Yuexiu Real Estate also performed well. This fluctuation is seen as a response to policy signals such as the issuance of a "white list" for real estate project financing in many cities in China and the rapid follow-up by the banking industry, indicating a positive response from the market to the improvement of the real estate financing environment.
Technology stocks also showed strong momentum, especially in sectors such as Internet medicine, pharmaceutical outsourcing, biomedicine and medical cosmetology. For example, JD Health, Ali Health, and Ping An Good Doctor have all achieved significant results. In addition, tech giants such as Alibaba, Kuaishou, Meituan and SenseTime have also seen significant growth, reflecting optimistic expectations about the earnings outlook of these companies and a preference for growth styles**.
In the semiconductor sector, the gains of Hua Hong Semiconductor and SMIC are also very eye-catching. The market expects that with the increase in global demand for chips, the global chip industry may achieve a significant increase this year.
Other sectors such as consumer stocks such as home appliances, cosmetics, food and beer, as well as sectors such as automobiles, logistics, brokerages and power equipment, also showed broad positive sentiment in the market.
This "miracle day" of Hong Kong stocks is not only a strong market adjustment in the early stage, but also reflects investors' confidence in the medium and long-term potential of Hong Kong stocks. The performance of a number of important sectors, from real estate to technology to semiconductors, shows the market's activity and growth potential in many ways. The market performance of this day undoubtedly injected a shot in the arm for the Hong Kong market, and also provided a positive signal for the future market trend.
February** Dynamic Incentive Program