Group 1 - The report from Haitong International indicates that A-shares are expected to consolidate in September, while Hong Kong stocks may receive short-term support due to easing liquidity pressures and a strengthening RMB [1] - A-shares experienced significant fluctuations last week, with the Shanghai Composite Index rising by 1.5% and the ChiNext Index increasing by 2.1%. Hong Kong stocks also saw gains, with the Hang Seng Index up by 3.8% and the Hang Seng Tech Index up by 5.3% [1] - The Jackson Hole meeting saw Powell release dovish signals, leading to a rebound in gold prices, which increased by over 9%. However, recent US inflation data confirmed rate cut expectations, causing gold prices to fluctuate [1] Group 2 - The liquidity in Hong Kong remains stable, with HIBOR maintaining stability. The RMB has appreciated moderately against the USD, but a potential rebound in the USD may weaken this support for Hong Kong stocks [2] - Southbound capital inflow surged to HKD 60.8 billion last week, with Alibaba receiving HKD 22 billion of inflow, totaling HKD 37 billion since September [2] - The report suggests that the market has fully priced in three rate cuts this year, leading to a strong rebound in A-share technology stocks, while Hong Kong stocks are boosted by Alibaba and Baidu [2]
海通国际:阿里巴巴-W(09988)上周获南向资金220亿港元流入 料港股维持震荡