Sina Finance News Hong Kong Hang Seng Index closed at 22455.36 on August 1, down 729.58 points or 3.15%, with a turnover of HK $121.058 billion, the second largest single day turnover in history. The state-owned enterprise index closed at 12845.39, down 518.57 points, or 3.88%. At one point in the session, it fell to 22209.79 (down 974 points. Comparatively, the Hang Seng Index fell 923 points during September 11).

Ernie Hon of Industrial and Commercial East Asia said that the main reason for the market decline was the new concern about the problem of the US housing market. The previous market view was that the problem was limited in scope and would not affect US consumption, which was the driving force of US economic growth. If the US economic growth slowed down, it would inevitably impact the world economy.

In terms of Chinese telecom stocks, China Mobile (0941) fell 4%, China Unicom (0762) fell 3.11%, China Netcom (0906) fell 3.05%, and China Telecom (0728) fell 4.39%.

The mainland stock market fell after hitting a new high. Chinese financial stocks fell across the board. Chinese banking stocks ICBC (1398), CCB (0939), BOC (3988), BOCOM (3328), China Merchants Bank (3968) and CITIC Bank (0998), down 1.86% to 4.9%; Among Chinese insurance stocks, Guoshou (2628) and Pingbao (2318) fell 4.28% and 4.56%, but property insurance (2328) rose more than 10% against the market, reaching a new high of HK $11.54 and still rose 6.34% at HK $10.74.

HSBC Holdings (0005) and Hang Seng (0011), which announced their ideal performance earlier, took advantage of the momentum to give back 1.46% and 2.66% respectively. As for other banking stocks in Hong Kong, East Asia (0023) saw a new high of HK $49.6, closing at HK $47.45, a slight increase of 0.1%, BOCHK (2388) fell 0.49%, and Standard Chartered (2888) fell 0.94%.

Changshi (0001) fell 5.05%, and Hehuang (0013) fell 3.03%; Other real estate stocks Hengdi (0012), Xindi (0016) New World (0017), Xinzhi (0083) and Hang Lung Real Estate (0101) fell 1.88% to 5.26%, while Kerry Construction (0683), which invested in the former police dormitory land of Wong Tai Sin, fell 3.23%; Rent collection stock Taikoo (0019) fell 2.3%, and Jiucang (0004) fell 4.89%.

Hong Kong Stock Exchange (0388) fell 2.61%, export stock Esprit (0330) fell 3.96%, Li Feng (0494) fell 1.63%, Yue Yuan (0551) fell 4.27%, and Foxconn (2038) fell 4.83%; Cathay Pacific (0293) fell 1.94%, CNOOC (0883) fell 4.05%; CITIC Pacific (0267) fell 4.66%, China Resources Venture (0291) fell 2.69%; China Merchants International (0144) fell 3.77%, COSCO Pacific (1199) fell 4.48%; Gas (0003) dropped by 2.74%.

Mainland real estate stocks developed individually. China Overseas (0688), R&F (2777), World House (0813) and China Resources Land (1109) fell 3.19% to 6.1%; Ruifang (0272) invested HK $892 million to increase its shareholding in Shanghai Taipingqiao project, down 2.68%; Yajule (3383), whose target price was raised to HK $19 by times, rose first and then returned to 2.45%, while Country Garden (2007) rose 2.08% against the market, reaching a new high of HK $10.42; China Real Estate (1838) earned 10 times more in half a year, up 5.97%; Semi new stock Hejing (1813) expects that the profit rate of Chengdu project will not be less than 25%, and the IFP rent is the highest in Guangzhou, up 1.85% to a new high.

Resource stocks declined significantly, PetroChina (0857) and Sinopec (0386) fell 3.43% and 2.66% respectively; In terms of coal stocks, Shenhua (1088), China Coal (1898) and Yanmei (1171) fell 3.49% to 5.19%; Chinalco (2600), Jiangxi Copper (0358), Zijin (2899) and Lomo (3993) fell 2.26% to 5.03%.

Iron and steel stocks fell, with Ansteel (0347), Masteel (0323) and Chongqing Iron and Steel (1053) falling 4.55% to 6.59%; Cement shares were developed individually. China National Building Materials (3323) acquired the shares of 10 private cement companies. It was seen that 19 Hong Kong dollars rose by 1.44% to 16.9 Hong Kong dollars; Anhui Conch (0914) was downplayed by Citigroup at HK $44, down 3.75%.

CCCC (1800), which was criticized by Citigroup, fell 5.26%, and CSR (3898) fell 4.41%; BYD (1211) fell 0.79%.

Aviation shares Air China (0753) fell 5.56%, China Southern Airlines (1055) fell 5.2%, and Capital Airport (0694) fell 2.7%; In terms of shipping and port units, China Shipping Development (1138)、 COSCO (1919) fell 3.38% and 4.57% respectively, while OOCL (0316) bucked the trend and rose 1.81%, China Shipping Group (2866) down 2.59%; Tianjin Port (3382) fell 2.54%, and Dalian Port (2880) fell 2.46%; Highway and auto stocks also fell.

Domestic demand stocks Mengniu (2319) fell 2.86%, Belle (1880) fell 3.63%, and Li Ning (2331) fell 5.85%.

Paper shares Jiulong (2689) fell 2.78%, Liwen Paper (2314) fell 4.73%, and Lin Da (0910) fell 6.29%.

Semi new shares Fosun International (0656) fell 4.13%, China Automation (0569) returned 3.07%, Anta (2020) fell 3.05%, Tiangong International (0826) fell 4.44%, China High Speed Drive (0658) added 4.7%, and Weida (3331) fell 4.95%.

Fujikao (0927) once hit a new high of HK $4.7, rising 4.51% to close at HK $4.4; Yijinli (0304) plummeted by 14.15%; Hehe Industrial (0054) allotted shares of HK $32.7 per share, down 4.26% to HK $32.6.

In terms of shares resumed trading, Hong Kong Pharmaceutical (0182) allotted shares, down 10.37%; Greater China Industries (0431) set foot in port infrastructure business, and its share price rose 44%.

Sina statement: The content of this article is purely the author's personal view, only for investors' reference, and does not constitute investment advice. Investors operate accordingly at their own risk.