A helter-skelter Hong Kong stock market yesterday surged to a record, then dived 1,625.56 points before a late recovery of 0.86 per cent cut the day's losses.
Investors taking profit and hunting bargains created a new turnover high of HK$209.81 billion.
The Hang Seng Index closed 719.81 points or 2.55 per cent lower at 27,479.94, ending a run of record closing highs.
The index gained as much as 2.38 per cent in morning trade to a new intraday high of 28,871.04. A slight retreat before lunch gave way to sharp falls in the afternoon amid concern of more fund-raising activity in the market.
The H-share index also fluctuated, gaining 2.73 per cent to an intraday high of 18,463.73 points, then tumbled to a 5.47 per cent drop on the day before closing 656.34 points or 3.65 per cent lower at 17,317.53.
Market sentiment came under pressure as shareholders of leading property developers Sun Hung Kai Properties (SEHK: 0016) and Henderson Land Development (SEHK: 0012) were said to be selling existing shares.
"The afternoon trading swing to a sharp fall of almost 900 points was mainly due to the worry of share placement activity testing the waters in the market," said Winson Fong, the managing director and head of greater China equities at Societe Generale Asset Management.
"A number of investors also took profit after the market surge of more than a week."
SHKP fell HK$11.90 or 8.51 per cent to close at HK$127.90, contributing 83.48 points to the index's losses.
Market traders said the developer did not sell any shares yesterday. Rumours of the company making a share placement have been circulating for weeks.
"The market has become sensitive," said Philip Asset Management fund manager Chan Yuk-keung. "At about three o'clock in the afternoon, some investors were panicking and selling shares."
China Mobile(SEHK: 0941, announcements, news) , the country's largest mobile operator, closed HK$5.60 or 4.14 per cent lower at HK$129.80, contributing 172.09 points to the index's fall.
China Telecom (SEHK: 0728), the country's largest fixed-line provider, dropped 2 per cent or 13 HK cents to HK$6.37 after hitting a record HK$7.08 in the morning.
Ping An Insurance (Group) (SEHK: 2318) tumbled 5.64 per cent or HK$6.60 to finish at HK$110.40.
"Several shareholders are trying to sell shares to cash in profit amid the hot market sentiment," a trader said. "They may think the market has reached the top already."
Shougang Concord International Enterprises shareholder Carlo Tassara yesterday sold 230 million shares for between HK$3.28 and HK$3.50 each to cash in as much as HK$805 million.
The selling price represented a 4.89 per cent to 10.87 per cent discount to yesterday's close of HK$3.68. JP Morgan was the book runner for the deal.
"The market is seeing profit-taking activity," said Fulbright Securities general manager Francis Lun. "There will continue to be corrections, but the market will maintain an upward trend as long as expectations for more mainland money coming to the market remain.
"Total turnover of more than HK$200 billion is just beyond imagination. I never thought turnover could reach this level."
The high turnover proved that several overseas investors and mainland funds were seeking investment opportunities in Hong Kong, Mr Fong said.
The influx of funds led to gains in several underperforming counters, such as HSBC Holdings(SEHK: 0005, announcements, news) , which rose HK$3.70 or 2.57 per cent to HK$147.70. The stock gained as much as 4.31 per cent to reach HK$150.20 in morning trade.
"The market remains bullish, and it was only a correction in the wake of the surge since mid-September that followed the 50 basis point rate cut by the US Federal Reserve," Mr Fong said.
첫댓글 음...이런 아름다운 이야기가.....
맨위에 있는 한글 두줄이면 충분 합니다 ㅡ.ㅡ@ 번역기 돌려야 겠당
아 또 밤에 공부 시키시려구 ^^ 영어는 산정상님의 영역 아니겄습니까..
헐 이런 이유가 있었군요
어,,,,,,,
하하하~~~ 좋은 글이군요!! 많은 분들에게 추천합니다-.-;;
.......
아...그래서 어제오늘 그랬군요..짜식들 넘하네..그래도 희망은 있군요...
누가 요약좀..해주세여..전 영어울렁증..우..우..웩~~
다들... 센스가 좋으신데요~~ 아님, 영어 실력이 좋은 건가요? ㅋㅋㅋ
흠...그렇군요...차이나모바일이...그렇고...HSBC 홀딩스가 그렇게 된 것이군요... 흠....미스터 뽕이 그런 이야기를....
현지 투자자들이 이성을 잃은듯하군요... 지난 1주일간의 충격과 같은 상승후에 현금화하느라 정신없다는거 같습니다. 그래도 시장은 적응할거구, 본토돈이 더 많이 들어올것에 대한 기대가 있는한 우상향은 지속될것이라네요..
아~ ㅎㅎ똑똑하시다..고마워여~^^
건우는 좋겠당 아빠가 영어 잘해서..
공부좀 하셨나봐요땡큐
전 중국어를 좀 하져
건우아빠님~ 위대하세염~~ ㅎㅎ
아 울렁거림을 말끔이 해결해주시는 군요
건우가 뒤에서 해석해 주었는지도 모릅니다
이론... 들켰당.. 건우가 ㅋㅋㅋ
건우는 영어도 잘해서 아빠가 좋으시겠어염 ^^
간단히 요약하면, 9월 미국 금리인하로 인한 단기 주가급등으로 인한 차익실현 매물이 나온것이다. 이것은 당연히 거쳐야 하는 조정과정일 뿐이다. 역시 중요한 것은 여전히 홍콩시장은 매력적이다 라는 사실....
아... 총알 마련하느라 분주해질듯 싶습니다 ㅎㅎㅎ
패닉상태로 차익실현하지만 본토와 외부자본이 들어와 전망은 좋다네요...
더 간단히 요약하면 우상향 ㅋㅋ 댓글 잼있네여^^
아 우상향, 매력적, 전망은 좋다 머리에 쏙 쏙 들어오네요
ㅋㅋㅋㅋ 엄청난 내공... 저 많은 글 내용을 우상향, 매력적, 전망 밝다로... ㅋㅋㅋㅋ
음~~~~ 그래 그래, 좋은 말이 군요.
한마디로 고고 ㅋㅋㅋ
잉글리쉬는 영~~~ ㅡ,.ㅡ;;
저녁에 먹은 다 나오려 하네
리플들이 센스만점이셈 ㅋㅋ