香港股市经纪人在过去一段时间里，正处于他们职业生涯中最繁忙期，一名有三十一多年行业经验的老手将这座城市的突然飙涨描述为“世纪级事件”。作为香港最大的本地券商之一，Bright Smart Securities的首席执行官表示，他所在公司的账户开设数量出现了“巨大增长”现象。很多客服人员已取消了计划中的假期，并准备24小时待命以应对前所未有的客户咨询激增。
在香港，这种类似狂热情绪也蔓延至各个证券经纪人身上。中国企业的股票在上周北京出台的一系列政策后，价格急剧上涨，引发了香港零售投资者的热情。Tiger Brokers这家广受欢迎的交易平台称，在过去一周内，新账户开设数量激增了73%。
然而，与高涨的投资热情相伴的，是市场中的某些部分已出现过热迹象：如周三个别低价股票涨幅超过400%，以及一些未能履行债务的企业。但目前看来，并无明显的买家疲倦迹象。香港股市周三交易额达到了4340亿港元（约合559亿美元），仅略低于历史最高水平，当天股价创下了多年新高。部分券商和银行由于系统压力过大，客户难以登录移动应用的情况时有发生。“那是一天的繁忙时期，我因不断接客户的询问而未能吃午餐，”KGI Asia有限公司的投资策略部门负责人表示，“我们可能会忙到接下来一两个月，考虑到市场的积极情绪，预计交易量会维持高位。”
在这一波涨势中，中国的股票成为了全球市场中的佼佼者。目前，中国股市已成为今年表现最佳的主要市场之一。这一转变与过去几年形成鲜明对比，在那段时间里，由于经济疲软和长期房价下跌，中国对国际投资组合管理者的吸引力相对较小。
然而，交易员们正逐步建立起一种信念：这次上涨行情可能才刚刚开始。纳斯达克中国金龙指数——追踪在美国上市的中国公司股价的一个指标，在周三上午11时20分时上涨了2.4%，并将五日涨幅扩大至25%。
根据北亚地区的股票咨询部门负责人的话，“我们听说现在外资的长期基金正在讨论是否应该减少对中国股市的空头配置。”他进一步解释称，可能是因为担心失去本月相对表现的机会，导致市场上出现恐慌性购买行为。价格快速变动给许多投资者追逐涨势带来了挑战。“市场变化如此之快，这让长线投资者难以追赶并增加投资位置，”一位资产管理公司负责人说道。
香港恒生指数单日涨幅高达自2022年11月新冠疫情政策放宽以来的最大值——中国实施新冠清零政策导致股市复苏。对于有更长远记忆的人来说，这段时期与2015年的股票狂潮相呼应，当时一股购股热潮引发了香港和大陆市场的牛市行情。
然而，那次泡沫在中旬破裂，在随后的九个月里，港股交易量几乎减半。
新闻来源：www.bloomberg.com
原文地址：Hong Kong Brokers Swamped by ‘Once In a Century’ Stock Frenzy
新闻日期：2024-10-02
原文摘要：
Stock brokers in Hong Kong are having one of the busiest periods in their career, with a 31-year veteran describing the city’s sudden rally as a “once in a century” event., chief executive officer of one of Hong Kong’s biggest local brokerages, Bright Smart Securities, said his firm has experienced a “massive jump” in account openings. Many of his customer support staffers have canceled planned holidays, and are standing by 24 hours a day to handle the unprecedented surge in client inquiries.Brokers across Hong Kong are experiencing a similar euphoria as the stocks of Chinese companies soar in the wake of by Beijing last week. Tiger Brokers, a popular trading platform among Hong Kong retail investors, said it posted a 73% jump in account openings last week.The surge of investor interest has also come with telltale signs of overheating in some pockets of the market, including 400%-plus gains in some penny stocks on Wednesday and that have defaulted on their debt. But for now at least, there’s little sign of buyer exhaustion. Turnover hit HK$434 billion ($55.9 billion) on Wednesday, just shy of a , as stocks hit multi-year highs. Some brokers and banks have experienced an overload in their systems, making it difficult for clients to log in to mobile apps, according to . “It was a busy day, and I had no lunch due to non-stop inquiries from clients,” said , head of investment strategy at KGI Asia Ltd. “We might stay busy for the next one to two months, as trading volume will probably remain high given the positive market sentiment.” , a fund manager at Janus Henderson Group Plc., was awake at 3 a.m. checking the prices of Chinese companies’ American depositary receipts. His meetings with analysts Wednesday showed interest dying down in markets like South Korea and India. “China is the only game in town,” he said.The city’s stock benchmark Hang Seng jumped 6.2% on Wednesday, while the closely-watched ended the day 7.1% higher. China’s CSI 300 Index officially entered a bull market on Monday, before closing for a week-long public holiday. The gains have made Chinese stocks the best performing major market this year. That’s a sea change from what was seen for most of the past few years, when China was a tough play for foreign portfolio managers, thanks to a struggling economy and a prolonged property slump. Now, conviction is building among traders that the bull run has further to go. The Nasdaq Golden Dragon index of US-listed Chinese stocks rose 2.4% at 11:20 a.m. on Wednesday, widening its five-day rally to 25%. Read: “We heard the debate is now with foreign long-only funds on whether to close the underweight in Chinese equities or not,” said , head of equity advisory for North Asia at Union Bancaire Privée. “Perhaps the fear of losing out on the relative performance for this month has driven panic buying mode in the stock market today.”The sharp moves in stock prices are making chasing the rally challenging for many.“Everything is moving so fast,” said , fund manager at EFG Asset Management. “The speed of which the market rallied is actually making it very difficult for long-term investors to chase and add position.”The Hang Seng Index’s one-day move was the biggest since November 2022, when the end of China’s zero-Covid policies gave a shot in the arm to the struggling stock market. Those with longer memories are looking a bit further back. Hui from Bright Smart said the market reminds him of 2015, when a stampede of stock-buying caused bull runs in Hong Kong and mainland China.The bubble eventually burst in mid-2015 and stock in Hong Kong halved over the following nine months.
