Evaluation of Hong Kong stocks

Futu Information Sept. 16 | the three major indexes of Hong Kong stocks fell again. As of the close, the Hang Seng Index fell 1.46% to 24667 points, the intraday low of the year, and recorded a four-day decline. The national index fell 1.46% to 8805 points, and the Hang Seng Technology Index fell 1.03% to 6232 points.

As of the close, Hong Kong stocks rose 438, fell 1635, and closed flat at 753.

Plate aspectMost large-scale technology stocks fell, Bilibili Inc. and XIAOMI fell by more than 2%, BABA fell by more than 1%, Meituan and Tencent fell slightly, and Kuaishou Technology rose nearly 2%.

Automobile stocks fell collectively, China Evergrande New Energy Vehicle fell by more than 11%, Great Wall Motor by more than 8%, Wuling Motor by more than 5%, Geely Automobile by nearly 5%, and Byd Company Limited by more than 3%.

Inner housing stocks continued to weaken, Greentown China fell by more than 12%, R & F Real Estate and Sunac China fell by more than 11%, and China Evergrande Group fell by more than 6%.

Property management stocks fell collectively, Shimao Service fell by nearly 13%, Country Garden Services Holdings and Jinke Service fell by more than 10%, Yashi Service fell by nearly 9%, and Binjiang Service fell by more than 6%.

The decline of online education stocks widened in the afternoon. New Oriental Education & Technology Group and New Oriental Education & Technology Group fell more than 6% online, while Outstanding Education Group and Sikole Education fell more than 3%.

Gold stocks continued to fall in the afternoon. China Gold International fell more than 9%, Zhaojin Mining fell more than 6%, Zijin Mining Group fell more than 5%, and Shandong Gold Mining fell nearly 3%.

Semiconductor plate fell collectively, Jingmen Semiconductor fell more than 6%, Hua Hong Semiconductor fell more than 4%, Shanghai Fudan fell nearly 4%, Semiconductor Manufacturing International Corporation fell nearly 2%. Morgan Stanley has twice reminded the semiconductor industry of risks.

Individual stocks$Aikang Medical (01789.HK) $Against the market rose more than 6%, China Banking International maintained its buy rating, the target price rose to 11.45 Hong Kong dollars.

$Rehabilitation Medical Technology (01696.HK) $The decline of more than 12% led the decline in medical and beauty concept stocks, and the General Administration of Market Supervision drew up new rules to rectify all kinds of medical beauty advertising chaos.

$Chunli Medical (01858.HK) $After a further drop of more than 8%, the knee joint system won the bid, and only the ceramic-ceramic hip joint product system won the bid.

$Sands China Ltd. (01928.HK) $The decline of nearly 8 per cent led gaming stocks lower, while Goldman Sachs Group lowered its forecast for annual gross gaming revenue to 30 per cent of 2019 levels.

$BeiGene, Ltd. (06160.HK) $Increased by more than 1%, rising for the fifth day in a row, the United States FDA granted Baiyueze ®(Zebutini) accelerated approval for the treatment of recurrent or refractory marginal zone lymphoma.

$Yongda Motor (03669.HK) $It rose by more than 5% and bought back a total of 2.829 million shares in the past three days.

Today's turnover of Hong Kong shares TOP20

Message surface

National Health Commission: more than 1 billion people in China have been vaccinated against novel coronavirus.As of September 15, a total of 2.161428 billion doses of novel coronavirus vaccine had been reported nationwide, and the number of people who had completed the whole course of vaccination was 1.011584 billion, according to Mi Feng, spokesman for the National Health Commission.

National Development and Reform Commission: by 2025, the double control system of energy consumption will be more sound, and the efficiency of energy and resource utilization will be greatly improved.The National Development and Reform Commission issued the Plan for improving the double Control system of Energy consumption intensity and Total quantity. According to the plan, by 2025, the double control system of energy consumption will be more sound, the allocation of energy resources will be more reasonable, and the utilization efficiency will be greatly improved. By 2030, the double control system of energy consumption will be further improved, the intensity of energy consumption will continue to decline significantly, the total amount of energy consumption will be reasonably controlled, and the energy structure will be more optimized. By 2035, the optimal allocation of energy and resources and the comprehensive conservation system will become more mature and stereotyped, effectively supporting the realization of the goal of steady decline in carbon emissions after reaching their peak.

Ministry of Industry and Information Technology: the cost of new energy vehicles in China is on the high side, and the supply of power battery resources will be guaranteed as a whole.According to the Ministry of Industry and Information Technology, the cost of new energy vehicles in China is still on the high side. In addition, the key components of electric vehicles, power batteries are facing lithium, cobalt, nickel and other mineral resources security and price rising pressure, the Ministry of Industry and Information Technology will work with relevant departments to speed up the overall planning and improve the guarantee capacity.

National Development and Reform Commission: as the effect of collecting and storing "supporting the market" gradually shows, pig prices may gradually pick up.According to the National Development and Reform Commission, preliminary statistics show that 17 provinces have carried out or started the collection of reserves, and other places will also carry out collection in the fourth quarter, with a significant increase in the total number of reserves. In the coming months, with the gradual emergence of the effect of collecting and storing "supporting the market", superimposed by autumn and winter and two sections of pork consumption and demand, pig prices may gradually pick up. In the next step, our committee will continue to closely follow and monitor the changes of breeding sows, the changes of pig stocks, and the trend of pork prices, strengthen analysis, research and judgment, and will further study with relevant departments to adopt cross-cycle measures such as import regulation to promote the smooth operation of the pig market.

The China Coal Association organized key domestic coal enterprises to take the initiative to resist the act of driving up market prices.The China Coal Industry Association and the China Coal Transportation and Marketing Association have organized key domestic coal enterprises to jointly issue an initiative to do a good job in stabilizing coal prices, not raising prices at will, and actively resist the act of driving up market prices. guide market prices to gradually return to a reasonable range and promote the smooth operation of the coal market and the high-quality development of the industry. Under the premise of ensuring safe production, we should strive to improve the guarantee capacity of coal resources, prepare resources in advance for this winter and next spring heating season, give full play to the main role of high-quality coal mine production capacity, actively tap potential and increase production, and make every effort to ensure a safe and stable supply of coal.

Institutional viewpoint

Credit Suisse: maintain$Hong Kong Exchanges and Clearing (00388.HK) $Better than the market rating, with a target price of HK $590.According to a research report released by Credit Suisse, the people's Bank of China and the Hong Kong Monetary Authority announced on the 15th that the southbound Bond Link will be opened on the 24th of this month to provide mainland Chinese investors with new channels to invest in the Hong Kong bond market, which is expected to bring direct income contribution to Hong Kong Communications. The launch of the southbound link reflects the continued promotion of new initiatives and close co-operation between mainland Chinese regulators and the HKEx to stimulate market sentiment for investment in the HKEx. According to the report, the opening of Nanxiangtong, superimposed with the recently announced MSCI China A50 futures, is expected to dispel market concerns about the slow progress of HKEx's new measures. In the medium and long term, the bank believes that the demand of mainland Chinese institutions and individuals for overseas asset allocation will continue to support asset and bond market activities in Hong Kong, China.

China Bank International: maintain$Yum China-S (09987.HK) $Buy rating with a target price of HK $532.66.CMB International reported that it maintained its buy rating based on lowering the 2022 forecast price-to-earnings ratio from 32 to 30 to reflect the downward valuation of the industry, lowering Yum China's target price to HK $532.66. The bank said the group's third-quarter profit was lower than expected, but remained positive for its outlook for the fourth quarter of this year and next year, with net profit expected to grow by 34% next year due to store expansion, strong takeout and Pizza Hut reforms.

Daiwa: maintain$Air China Limited (00753.HK) $Buy rating, target price reduced to HK $6.2.Daiwa published a research report that lowered the target price of Air China Limited from HK $6.80 to HK $6.20, maintaining its buy rating. The bank held a meeting with the management of Air China, in which the group had low expectations for Mid-Autumn Festival travel. As for the National Day holiday, the current air ticket bookings are 90% of last year's level, and the visibility is higher in mid-September. Because at present, many passengers buy tickets only a few days before departure. The bank expects the group to post a more serious net loss this year and cut its earnings per share forecast for next year by 32 per cent to reflect the latest August figures and delays in travel demand.