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How can the A-share blockchain sector go in the future?, The trend of these Hong Kong stock targets can be referred to

Time : 11/11/2021 Author : 97l1zs Click : + -
        On October 28, the Shanghai stock index rose only 0.85%, but individual stocks performed very well, with more than 100 A-shares trading by the daily limit, of which blockchain concept stocks became absolute stars. According to the daily limit system of a shares, it is difficult to grasp the late rise of blockchain concept stocks. However, there are blockchain concept stocks in the Hong Kong stock market without the daily limit system. Their trend yesterday may provide some enlightenment for A-share investors. The reporter of the daily economic news noted that yesterday, Tongcheng holdings became the blockchain concept stock in the Hong Kong stock market with an increase of 20.82%. However, the stock increased by 67% at most in the morning. It is believed that the intraday decline has temporarily caught up with many chasers.
        Recently, after the central government emphasized that blockchain is an important breakthrough in independent innovation of core technology, blockchain concept stocks in the A-share market rose by the limit yesterday, and the market's attention to blockchain concept also increased rapidly. At the same time, how long the rising momentum of blockchain concept stocks can last and how to develop in the future have become the focus of investors. In fact, there are blockchain concept stocks in the Hong Kong stock market, and they also rose to varying degrees under the stimulation of the news. It should be noted that blockchain concept stocks with large market capitalization rose slightly, while blockchain concept stocks with small market capitalization showed the characteristics of huge fluctuations. The Hong Kong stocks with the highest share price rise yesterday were Tongcheng holdings and xiongan technology, which rose 20.82% and 18.6% respectively.
        However, it should be noted that their market capitalization is very small, only HK $1436 million and HK $526 million respectively. The two stocks are relatively similar, both opened higher in the morning, and then the share price fell, and the whole day's increase is far lower than yesterday's highest increase. Tongcheng holdings opened high with HK $5.8 yesterday (the closing price of the previous trading day was HK $3.89). After the opening, the stock quickly rose, and soon rose to the highest point of HK $6.5, an increase of 67%. However, the share price of Tongcheng holdings began to fluctuate sharply and began to fluctuate downward, and finally closed at HK $4.7, up 20.97% throughout the day. Although the increase of Tongcheng holdings yesterday was still good, it is believed that a large part of the investors who bought the stock yesterday were "locked up".
        From the perspective of main business, Tongcheng Holdings has nothing to do with the blockchain concept. The company is headquartered in Hong Kong and was listed on the Hong Kong Stock Exchange in November 2016. The company's main business is to provide customers with high-quality design products and services to OEM and electronic industry partners. The company's products range from electronic power related businesses, battery chargers, coils, solenoids to the latest LED and optical products, such as LED lights. The blockchain concept of Tongcheng holdings mainly comes from the change of the company name and related business changes. In September this year, Tongcheng holdings announced that it proposed to change the name of the company to Huo coin Technology Holdings Co., Ltd.
        It should be noted that Tongcheng holdings changed its chairman and CEO to Li Lin in September this year. Li Lin founded Huo coin group in 2013 and is still its current chairman and CEO. Stimulated by the news, Tongcheng holdings rose 40% in a single day on September 11. The reporter of the daily economic news noted that Tencent holdings released the white paper on Tencent blockchain scheme as early as 2017, aiming to work with partners to promote the development of trusted Internet and create a win-win ecosystem of blockchain. However, stocks as powerful as Tencent and relatively deep involvement in the blockchain rose only 1.71% yesterday.
        Although the share price of blockchain concept stocks rose differently yesterday, the market expressed positive views on blockchain. Dongguan Securities pointed out, "we believe that with the rise of blockchain to the height of national strategy and the superposition of broad downstream application demand, the domestic blockchain market is expected to usher in a golden period of development.". In addition, from the perspective of the stock market, Liu Youhua, a researcher at private placement network, also told reporters that the strength of the blockchain sector yesterday has a lot to do with the weekend policy. This time, the blockchain has been upgraded to a national strategic position, which is likely to lead to a technological upgrading of the industry. The sustainability of the sector is one of the topics concerned by investors, but the market will gradually enter a state of differentiation on the second trading day. Only those listed companies that really have technology and application fields will be pursued by funds, and the popularity of the blockchain sector will probably last for one to two months.
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