TheSolana price prediction today, tomorrow Hang Seng Index opened higher on Tuesday and continued to rise, closing with a bullish candlestick. The Hang Seng Index closed at 19,434 points, up 766 points or 4.1%. The turnover of the main board increased to 142.1 billion yuan.

Following the Central Political Bureau meeting, the market anticipates favorable policies to be introduced. Real estate and property management stocks surged, with Country Garden Services (6098) rising over 26%, Longfor Group (0960), Country Garden (2007), and China Overseas Land (0688) increasing by 25%, 18%, and 12% respectively. These were the top-performing constituents among the first four Hang Seng Index stocks.

The Hang Seng Index rose above the 50 SMA, 200 SMA, and 250 SMA, reaching a high since July 18 and filling the previous day's downward gap. The MACD bullish divergence expanded, indicating a continued positive trend.

The International Monetary Fund (IMF) updated its "World Economic Outlook" report, estimating global economic growth of 3% this year, which is 0.2 percentage points higher than the forecast in April. The forecast for next year's economic growth remains at 3%. The report predicts that global overall inflation will decline to 6.8% this year and further decrease to 5.2% next year, with core inflation gradually declining as well. The report also raised the economic growth forecast for the United States by 0.2 percentage points to reach 1.8% this year.

The three major US stock indices are performing well, with the Dow Jones Industrial Average rising for 12 consecutive trading days. However, overnight futures and American Depositary Receipts (ADRs) have experienced a decline. It is expected that after the sharp rise in the Hang Seng Index (HSI) in the previous day, there may be profit-taking, and it is recommended to consider support levels around 19300 / 19150.

China Education Holdings Limited (0839) is primarily engaged in operating private higher education institutions.

The group recently announced that its student enrollment capacity for domestic higher education institutions will continue to see a significant increase in the 2023/2024 academic year, with an additional approximate 13,000 places compared to the previous year, representing a year-on-year growth of over 16%. Among them, undergraduate enrollment capacity increased by approximately 10%, while college enrollment capacity increased by approximately 56%.

The group will be able to provide high-quality education and development opportunities for more students, as well as support the national regional development strategy and industrial transformation and upgrading. The main reasons for the significant increase in enrollment in recent years are: (1) The country continues to expand the scale of higher and vocational education to improve workers' skills and qualities and unleash the dividend of talent; (2) There is a strong demand for higher education among students, and the number of applicants for college entrance exams continues to grow. The group's employment-oriented, high-quality education is particularly popular among students; (3) The construction of new campuses by the group and the expansion of existing campuses have met the needs of growth in scale and improvement in quality.

On the other hand, the group recorded revenue of RMB 277.5 million in the six months ended February 28, 2023, representing an 18.0% year-on-year increase. The overall gross profit grew by 14.3% to RMB 139.4 million. Operating profit reached RMB 104.3 million, showing a 20.5% year-on-year increase.

The group's stock price has been performing well recently, and there are signals in the financial technology system. The group's valuation is at an intermediate level and should be noted. If valued at a price-to-earnings ratio of 8 times, the target price would be RMB 7.

The author is a licensed individual of the Hong Kong Securities and Futures Commission and does not hold the aforementioned shares. The above article represents personal opinions.