Hong Kong Stock Market Review: Consumer stocks plummet

Consumer stocks plummet while bank stocks remain stable. The trend of AH weighted stocks diverges, related to the domestic interest rate decline. Yu'e Bao's seven-day annualized yield falls below 1.5%. Goldman Sachs points out that domestic corporate free cash flow has reached a new high. The central government plans to increase the duty-free limit for visitors to Hong Kong to boost the retail industry. This year, domestic consumption has downgraded, with tourism data holding up, but the outflow of purchasing power has led to a pessimistic outlook for the overseas luxury goods market. The sharp decline in consumer stocks is mainly due to fund redemptions. Reasons such as the decline in Xiaomi car orders and the increase in Samsung storage prices are not sufficient to cause the sharp decline in consumer stocks