Social finance data in July was lower than expected, and the five major central enterprises withdrew from US stocks ... Guoxin Securities: Secondary disturbance not to change the logic of the rebound of Hong Kong stocks

There are two major events on the weekend. One is that the social integration data is released in July; the other is that the five central enterprises China shares are delisted from the US stock market.

On August 12, the relevant departments announced the data of social merger in July. After the historical high of the same period in June, the growth of new RMB loans and social finances in July was significantly lower than market expectations. Data show that in July, RMB loans increased by 679 billion yuan, a year -on -year increase of 404.2 billion yuan. Compared with the new scale of 281 billion yuan in June, it shrinks more than 2 trillion yuan. It reflects that the rhythm of the macroeconomic recovery is relatively smooth, and the effective financing needs of the entity department are insufficient.

On the same day, five central enterprises of China Petroleum, Sinopec, China Life, China Aluminum, and China Petroleum and Chemical Industry issued an announcement to delist from the New York Stock Exchange. Beginning in March 2022, China Stocks began to be included in the "pre -delisting list" by the US Securities Regulatory Commission. There are more than 80 industries and China Life. In this regard, the CSRC responded that these companies were listed in many places, and the proportion of securities listed in the United States was small. The current delisting plan does not affect the continued use of the domestic and overseas capital market financing and development.

Guoxin Securities said on August 14's research report "Currency trading or out of US stocks, and the secondary disturbance of the Hong Kong stocks rebounding logic" stated that the above -mentioned disturbances are secondary factor and still have the point of view of Hong Kong stocks rebounding. The reason is:

1) Social finance data shows that M2 (broad currency supply) has a record high year -on -year, and the growth rate remains at 12%, reflecting that the market liquidity is still abundant; 3) In the third quarter, the performance of the performance was strong, and the core logic of the restoration of the performance was clear; 4) the risk aversion to emotions may be near the apex; 5) The cost of the current stock price is not much left. Keep recommending the Internet.

On August 15th, Hong Kong stocks opened low and rose by nearly 2%. In the afternoon, the rise in the afternoon. As of now, the Hong Kong stocks Internet ETF (513770) rose 1.83%, with a turnover exceeding 80 million yuan, and a renewal rate of 19.79%.

Among the ingredients stocks, most of the large Internet giants closed up, Meituan rose more than 3%to lead the increasing sector, JD.com's health rose 2.92%, Micro -League Group rose 2.63%, Ali Films rose 1.61%, Ali's health rose 1.50%, Xiaomi rose 0.49 0.49 %, The fast hand rose 0.25%.

[Hong Kong stock Internet ETF (513770), low -cost and convenient investment in China's best Internet giant]

The HKC Internet index is selected from 30 listed companies involving Internet -related businesses as index samples from the Hong Kong Stock Connect. The ingredients stocks are all Hong Kong stocks. Meituan, Xiaomi Group, Tencent Holdings, and Kuaishou's weights are as high as 53%, and the profitability is large. In addition, the top ten major ingredients include Jingdong Health, Kingdee International, Ali Health, Jinshan Software, China Software International and Tongcheng Travel. Essence

The Hong Kong stock market ETF (513770) is the first ETF of the Shanghai Stock Exchange's first Hong Kong stock market. It can be traded in the "T+0" transaction within the day, with less than 100 yuan in hand, and invests in the best Internet giants in China at a low cost.

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