After Monday's correction, the A-share market and the Hong Kong stock market fell further this morning, but around 11am, the market suddenly reversed course, and the A-share market and the Hong Kong stock market turned positive.

Among them, the Hang Seng Technology Index of Hong Kong stocks surged 6% at one point, a rare strong performance in recent times. A-shares turned red across the board, with the Shanghai index rising from A fall of more than 1% to close up 0.74% in the morning.

For the previous adjustment of A shares and Hong Kong stocks, Wall Street investment bank jpmorgan Chase is firmly bullish on Chinese stocks and believes that the current is a good opportunity to buy. Marko Kolanovic, J.P. Morgan's chief global market strategist, wrote in a note to clients Monday that the rapid decline in Chinese stocks is out of step with fundamentals and that the sell-off presents a buying opportunity for equity investors. Kolanovic believes that given China's expected recovery in economic growth and monetary and fiscal stimulus, among other factors, "we see this as a good [buying] opportunity." He also mentioned that China's latest third-quarter GDP and other economic data were positive surprises.

The Hang Seng Technology Index surged more than 6 per cent during the session

The Hong Kong stock market fell further this morning after yesterday's sharp losses.

The Hang Seng Index fell more than 1.5% at one point and broke through the round 15,000 mark during the session. But around 11 a.m., the market suddenly turned negative and started a strong rally that took the index up more than 1.5 percent in just about half an hour before it went into shock mode.

The Hang Seng Technology Index has been even more volatile. After falling nearly 3 per cent at the start of trading this morning, the Hang Seng Technology Index quickly pared its losses and rose more than 6 per cent in only about half an hour after the start of a strong rally at around 11am. From the overall performance of the Hang Seng Science and Technology index in the morning, showing a low before high, the intraday reversal trend, the amplitude of the morning half trading day is as high as 9.03%, a rare fluctuation this year.

Ali Health, a member of the Hang Seng Technology Index, jumped nearly 10 per cent in intraday trading, after briefly falling more than 1 per cent shortly after the opening bell.

Jingdong Health fluctuated more violently this morning, staging a "big bungee jump" trend, skyrocketing nearly 15% at the opening, but then quickly diving to a falling state. Around 11 a.m., Jingdong Health stock prices quickly pulled up, and soon rose again by more than 10%, and then the increase narrowed.

Kuaishou -W, Xiaopeng Motor -W, Jingdong Group -SW, Sensetime -W and other stocks have also turned from falling to rising.

In the Hang Seng industry Index, the information technology industry, industrial, healthcare, discretionary consumer and other industries led the rise, among which the information technology sector rose by 3.44% as of the morning close, becoming the biggest driving force leading the reversal of the morning trend of Hong Kong stocks, most of which are Internet companies.

Among the main weighting stocks of the Hang Seng Index in Hong Kong, in addition to Internet companies, Haidilao and Xinyi Solar stocks also led the rise. Marine stocks Orient Overseas International also jumped more than 4% after several relatively low sessions.

According to Hong Kong TV news, Hong Kong Special Administrative Region Chief Executive Li Jiachao today (25) to attend the executive Council meeting with reporters, said that the global economy is affected by various unstable factors, Hong Kong needs to continue to pay attention to the economy. The main task of the SAR Government is to ensure the smooth and effective operation of various financial measures in Hong Kong, and to closely monitor the dynamics of Hong Kong stocks to ensure that market order is maintained. He acknowledged that the Hong Kong stock market had been highly volatile recently, but stressed that the SAR Government was well prepared to deal with different financial risks. Li Jiachao suggested that investors should pay close attention to market trends and assess investment risks.

A-shares also strengthened northbound funds half A day net purchase of 4.2 billion yuan

The A-share market also reversed course this morning, with the Shanghai index falling more than 1% in the morning, but turning red after pulling up to close up 0.74% in the morning.

In terms of industry sectors, the building materials sector led the rise, with the sector rising 2.38%. Ropskin, Luoyang Glass and other stocks rose by the daily limit. Automobiles, electric power equipment, mechanical equipment and other increases in the top. Pharmaceutical, biological, petroleum and petrochemical sectors fell the most.

By the morning's close, the number of advancing stocks on the market was nearly 2,500, slightly outnumbering declining ones.

It is worth noting that this morning, the northbound funds reversed the multi-day net selling trend, and the morning net buying was 4.212 billion yuan.

In addition, A-share listed companies have entered an intensive disclosure period for the performance of the third quarter of 2022. In recent days, the share prices of some companies have fluctuated sharply after the disclosure of third quarter results, but most companies have not fluctuated much after the disclosure of third quarter results.

At one point this morning, the shares were up more than 16 percent.

Yesterday evening, the construction Science Academy disclosed the 2022 three quarterly report showed that the company achieved revenue of 313 million yuan in the first three quarters, an increase of 6.93%, and achieved a net profit of 16.2074 million yuan, an increase of 668.23%. Among them, the revenue in the third quarter was 151 million yuan, an increase of 54.11%, and the net profit returned to the mother was 32.81 million yuan, an increase of 933.39%. The company also issued a notice to apply for a comprehensive line of credit to the bank that night. The announcement said that in order to protect the company's development of capital needs, the company agreed to apply to the Bank of China Limited Shenzhen Branch for a comprehensive credit line of RMB 400 million, valid for two years. Among them: the varieties of debt business are non-financing guarantee amount (can open separate guarantee) of 200 million yuan; Working capital loan amount of 200 million yuan (adjustable for the opening of bank acceptance line factoring business). The specific amount of the above credit obtained is subject to the final approval of the bank, and the use of the credit line shall be implemented in accordance with the relevant system of the company.

It rose more than 15% in the morning.

The company's third quarterly report for 2022 released last night showed that the company's operating income in the first three quarters was 1.686 billion yuan, an increase of 89.32% year-on-year, and the net profit attributable to shareholders of listed companies was 188 million yuan, an increase of 229.16% year-on-year.

Source: Securities Times