A New Rise in Tech Stock

 

This Week Highlight - A New Rise in Tech Stock
The whole world is expecting a new market lightning will take place in Hong Kong on 5 November. That's the day when Ant Group will be trading for the first day in Hong Kong and Shanghai Star board!

The Ant Group has successfully raised USD34.5 Billion for the public trading. The market capitalization on the first trading day will exceed USD300 Billion. This is a company just started 6 years ago and spin off Alibaba Group Inc.

Before Ant Group goes public, many tech stocks in Hong Kong have already risen this week. Despite Dow market fell throughout the week due to worsening coronavirus outbreak, Hong Kong market has seen good volume and bargain-hunting in some good counters. For instance, Tencent Inc has soared to new high in Hong Kong!

Once Ant Group starts to go public listing on 5 November, it will be grouped into the Hang Seng Tech Stock Index and adds weight to the composite benchmark. This has successfully fed the strategy of Hong Kong Administrative Government.

Since the security law commenced in July, many international investors have lost faith in Kong Kong for it's future in commercial and banking potential. Moreover, the U.S. Government has erected China as the sheer enemy and threatens to unpeg the USD/HKD exchange rate.

Investors are worried of a freefall in Hong Kong currency. In addition to the impending removal of trade privileges by the U.S. Government, the expected flight out of money from Hong Kong has added pressure on Hong Kong Dollar. But now, the listing of Ant Group has managed to attract much fund into Hong Kong. Moreover, Shanghai market will also experience a rapid shore up of investors fund into the equity market.

After the correction Euro-Am markets, we reckon the immediate recovery will start from Tech stock sectors again. Combining financial services, technology and blockchain, the future of our world will be encompassed by clicks of handphones via apps with almost instantaneous solutions for our lifestyle and financial matters.

If you wish to find out some potential stock instruments that we have mentioned in past 2 weeks, refer to our OTOP (12) and OTOP (13) episodes that have shown you good selection in setting up an investment. Follow us on every Monday and take a reference from us for your wealth building.


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Below is a video that might interest you: www.youtube.com/dwchannel2020




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