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2025-07-30 16:36:48
[A Contradictory Situation: Shanghai Composite Index Hit a New High, Hong Kong Stocks Close Lower] ⑴ On July 30th, Beijing time, the Shanghai Composite Index of China's A-share market closed slightly higher by 0.2% for the third consecutive trading day at 3,615.72 points, reaching a new high in more than three and a half years. ⑵ This rise was driven by the US-China tariff negotiations and the content of China's Politburo meeting, both of which were in line with market expectations. ⑶ Analysts predict that A-shares are likely to maintain their upward trend in the short term, with insurance stocks performing well. The CSI Founder Fubon Insurance Index closed up 1.5%. ⑷ However, Hong Kong's Hang Seng Index closed down 1.4% at 25,176.93 points, led by the automotive and technology sectors. ⑸ The Hang Seng Auto Index fell sharply by 4.5%, with Li Auto's stock plummeting 12.8% after investment bank Citigroup believed that the pricing of its new i8 model was slightly higher than expected. ⑹ The Hang Seng Technology Index also fell 2.7%. ⑺ HSBC Holdings' earnings report was weaker than expected, sending its share price plummeting 3.8%. ⑻ Chinese and American officials held "constructive" talks on tariffs and agreed to extend the 90-day tariff truce. ⑼ China's Ministry of Foreign Affairs expressed hope that the two countries will achieve more win-win outcomes through economic and trade consultations. ⑽ Currently, there is a clear divergence between the Chinese and Hong Kong stock markets, with A-shares strengthening on policy expectations and optimistic sentiment, while Hong Kong stocks are dragged down by individual stock performance and negative performance in specific sectors. ⑾ Investors should be aware that even with progress in trade negotiations, geopolitical uncertainty remains a potential market risk.
