Financial Associated Press, April 30 (Editor Hu Jiarong) the recent rebound in the Hong Kong stock market can be said to attract the attention of the market. For example, between February 15th and April 29thRealbaccaratThe Hang Seng Index rose 11% during the period.Realbaccarat.76%. However, during the same period, the trend of foreign investment such as JP Morgan and BlackRock is worthy of attention.
Note: performance of the Hang Seng Index since February 15
JP Morgan's shares in Pharmaceutical Biology and Vanke have changed greatly.
According to choice data, JP Morgan increased its holdings 115 times during the period from February 15 to April 29, while it sold 129 times in the same period. Among them, Pharmaceutical Biology and Vanke Enterprise (02202.HK) changed greatly during this period.
Taking Yao Ming Bio as an example, JP Morgan increased its holdings of 5.5765 million shares, 14.7818 million shares, 6.5746 million shares and 21.9897 million shares on February 28th, March 4th, March 7th and March 15th respectively.
Note: the increase and decrease of Yao Ming organism
However, JP Morgan has also reduced its holdings many times in Pharmacology. As of April 2, its number of shares in Pharmaceutical Biology fell by 207 million shares from 255 million shares.
Vanke enterprises also showed a similar trend in the same period. As of April 12, JP Morgan fell from 155 million shares on February 15 to 67.1 million shares on April 12.
Note: the increase and reduction of Vanke's holdings
However, JP Morgan's stake in BYD has increased by nearly 3 million shares over the same period, to 56.1228 million shares as of March 11.
Note: the increase and reduction of BYD shares
BlackRock also reduced its holdings of pharmaceutical stocks.
According to choice statistics, BlackRock's action in reducing its holdings in pharmaceutical stocks is also obvious. Take Yao Ming Kant as an example, the brokerage has reduced its holdings of the company many times, such as 256200 shares, 1.1684 million shares and 618000 shares on February 15, March 4 and April 3, respectively. As of the 3rd of this month, BlackRock still holds 22.6888 million shares.
Note: the increase and decrease of Yao Ming Kant
In addition, BlackRock made a similar move at Vanke. Vanke fell from 133 million shares on March 8 to 125 million shares on April 24.
Note: the increase and reduction of Vanke's holdings
Institutions say short-term rapid rise or overdraft market momentum
Despite the recent rebound in the Hong Kong stock market, some foreign institutions, such as JPMorgan Chase and BlackRock, have reduced some of their holdings during the rebound, raising concerns about the sustainability of future gains.
China International Capital Corporation recently expressed the view that the rapid rise in Hong Kong stocks is mainly driven by capital inflows, and this rising pattern may soon deplete the upward momentum of the market, so a sustained injection of long-term capital is needed to maintain market momentum.
In addition, the rapid rotation of the market sector, technical indicators that the market has reached an overbought state, and the decline in the proportion of short selling transactions may be signs of over-optimism. In particular, the Hang Seng Index encountered important technical resistance near 18000, which could trigger a short-term technical correction in the market.