Hong Kong stocks basically lacks direction on Thursday, HSI still stayed in the trading range and did not have effective breakthrough, the market sentiment was still not united, volatility was low, the daily trading range was only a hundred points, the trend is weak, the HSI can only rebound 100 points at the end of the day and close at 23,333. HSI is estimated to continue marching towards 22,500. Short-term trading range is between 22,500 and 23,500. China Mobile (00941.HK) was down 3.2%, Tencent (00700.HK) rose 0.3%. China Enterprises Index up 11 points and close at 10,438.

 

When the Agricultural Bank (01288.HK) earlier announced interim results, although the result is not as good as expected, the core business growth has slowed down, but revenue from bonds enabled the Group to maintain the expected profitability. In fact, the banking industry faces competition from all sides, it is estimated that ABC can still maintain the strengths of net interest income in the future; in addition, responding to central policy, the bank is able to save a lot of money in terms of human resource costs. The competitiveness and profitability of the company can be improved; the recent moderate monetary easing policy for small and medium loans will also bring special advantages.

 

On Thursday evening of Wall Street, although there is a rebound at the early part of the day, continuing the rally the day before, the Dow has risen to high of 16,768, but it cannot stand on top of a downtrend resistance level at 16,700, close at 16,678, the US stocks do not have enough momentum for further rise.