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Financial community news on May 20familyfeudonlinefreeOn Monday, the three major indices of Hong Kong stocks continued to rise in the morning session, the Hang Seng Index and the National Index once again set new highs in the session, closing up 0.0% respectively at noon.familyfeudonlinefree.49% and 0.42%, the National Index once approached the 7000 mark, and the Hang Seng Technology Index rose 0.61%.
On the market, large technology stocks that continued to rise began to diverge. Jingdong rose more than 3%, Netease and Fast Hand rose more than 1%, Baidu fell more than 3%, and Meituan fell 1.4%familyfeudonlinefree; Bulk non-ferrous commodities rose across the board, with gold and silver rushing to new highs, and copper and nickel continuing to surge. Gold stocks and copper stocks led the rise in the non-ferrous metals sector. Minmetals Resources was among the top gainers. Aluminum Corporation of China, Zijin Mining, Zijin Mining, etc. rose one after another; Citi maintained Macau's May gaming revenue forecast of 20 billion patacas. Co-gambling stocks were active. Many places exchanged old-for-new policies were introduced one after another. Auto stocks generally rose, and most aviation stocks, paper stocks, oil stocks, and lithium battery stocks showed a rise. On the other hand, domestic housing stocks, which had risen continuously before, were mixed, with Sino-Ocean Group and R & F Properties among the top losers. Home appliance stocks, high-speed rail infrastructure stocks, and telecommunications stocks were generally weak. China Railway and China Railway Construction both fell.
Gold stocks collectively surged, with Lingbao Gold rising more than 10%. On the news front, spot gold rose by more than 1% within the day, with a high of US$2,440.69 per ounce, breaking through the historical high of US$2,431.43 per ounce set in April.
China Silver Group soared nearly 50%. Spot silver stood at the US$32/ounce mark, continuing to hit an 11-year high, rising 1.9% during the day. The main contract of Shanghai Bank hit a daily limit, with an increase of 8%, at 8211 yuan/kg.
Copper stocks also rose, with Minmetals Resources rising more than 6%. The main international copper futures contract rose more than 5%. Lun copper futures hit a record high of US$10848/ton.
Auto stocks were among the top gainers, with Xiaopeng rising nearly 8%. According to the Passenger Transport Association, from May 1 to 12, the retail sales of new energy vehicles in the market were 241,000 units, a year-on-year increase of 31% year-on-year and a 10% increase from the same period last month. Since the beginning of this year, the cumulative retail sales of 2.692 million units, a year-on-year increase of 33%. Minmetals Securities pointed out that the growth rate of sales of new energy vehicles in 24Q1 has stabilized, and the 24Q2 old-for-new policy and the implementation of new energy assessments for state-owned automobile companies will slightly boost sales of new energy vehicles.
