Zhitong Financial APP learned that on the Hong Kong stock market on September 15, there was a net sale of 770 million in Beishui, including HK $530 million in Hong Kong Stock Connect (Shanghai) and HK $240 million in Hong Kong Stock Connect (Shenzhen).
The stocks that Beishuijing bought the most were Tencent (00700), HKEx (00388) and Dongyue Group (00189). The stocks sold most by Beishuijing are Galaxy Entertainment (00027), Aluminum Corporation Of China Ltd (02600) and Tsingtao Brewery (000168).
Hong Kong Stock Connect (Shanghai) Top Ten active Trading stocks
Hong Kong Stock Connect (Shenzhen) Top Ten active Trading stocks
Tencent (00700) received a net purchase of HK $913 million. On the news side, BofA Securities released a report saying that China has tightened restrictions on minors' access to games, adding pressure on the game industry, but there are many approved games in large game developers, such as Tencent pipeline. the bank has assumed that Tencent's game revenue forecast for the second half of this year to the first half of next year has assumed a limited contribution to new popular games, and has lowered its revenue forecast from this year to the year after next by less than 1.5%. To take into account the possibility of further delays in the launch of new games. The bank lowered Tencent's target price from HK $642 to HK $626, maintaining a "buy" rating.
HKEx (00388) received a net purchase of HK $396 million. On the news side, Lyon reported that the market was excited about the launch of the MSCI China A50 Interconnection Index futures contract on the 18th of next month. HKEx management said at a forum in Lyon that the group's profit forecast would not be tied to the launch of individual products alone. Lyon reiterated HKEx's "buy" rating with a target price of HK $687. The bank quoted HKEx management as saying that cross-border LiCaiTong and Bond access had a limited direct impact on the group's earnings, but HKEx's derivatives market should benefit because of foreign currency hedging demand. However, the bank points out that HKEx's transaction costs are higher than those of the mainland and the United States, and believes that lower transaction costs are needed in the long run to remain competitive.
Dongyue Group (00189) received a net purchase of HK $356 million. On the face of the news, Credit Suisse issued a recent Ribu research report saying that Dongyue Group maintained its "outperform" rating, raising its target price from HK $30 to HK $31. Since the company announced its rights issue of 3.3 billion yuan, the company's share price has fallen back by 18%. The valuation also fell back to 17 times next year's forecast price-to-earnings ratio. According to the report, the company plans to upgrade its PVDF (polyvinylidene fluoride, one of the raw materials for fluorocarbon coatings) production capacity by 2000 tons per year from the current 10, 000 tons, which is expected to be completed in the second quarter of next year, when it will be able to supply 5000 tons of lithium-ion battery standard PVDF (currently 3000 tons), increasing its domestic market share from about 25% to about 35%.
Yanzhou Coal (01171) received a net purchase of HK $115 million. On the news side, China International Capital Corporation research pointed out that recently, thermal coal stocks have been falling, the fundamentals are still tight. Looking forward, although the approval of coal production capacity has increased, due to the impact of environmental protection, security checks and major events, it is expected that supply-side constraints may still exist in the short term, and the increment is relatively limited. Winter is approaching, and it is expected that the peak demand season is coming, but the current inventory days are only about 10 days, so the power plant has a strong replenishment demand to maintain normal operation. The recent sharp rise in the cost of coal-fired power plants and their poor profitability may suppress the driving force of price increases to a certain extent.
Galaxy Entertainment (00027) received a net sale of HK $313 million. In terms of news, the Macao government plans to amend the gaming legal system, including introducing government representatives into operators and increasing the proportion of shares held by Macao local residents in gaming enterprises. JPMorgan Chase & Co issued a research report that the policy signal indicates that in the process of updating gambling cards, the regulatory review of capital management and daily operations will be more stringent. Although the actual level of regulation and enforcement is still the focus of debate, it has worried investors enough to downgrade betting stocks. The bank downgraded Wynn Macau, Sands and Melco to "underweight" and Galaxy Entertainment, SJM and MGM to "neutral".
In addition, Sunac China (01918), Wuxi Biologics (02269) and CNOOC (00883) received net purchases of HK $196 million, HK $81.73 million and HK $16.36 million respectively. Aluminum Corporation Of China Ltd (02600), Tsingtao Brewery (00168) and China Resources Power Holdings (00836) received a net sale of HK $232 million, HK $215 million and HK $86.57 million respectively.