Evaluation of Hong Kong stocks

The Hang Seng Technology Index fell nearly 2% in the afternoon. In late afternoon trading, the Hang Seng Technology Index recovered slightly and closed down 1.34% at 6654 points, the Hang Seng Index fell 0.36% at 26038 points, and the National Index fell 0.67% at 9259 points.

As of the close, Hong Kong stocks rose 696, fell 1205, and closed flat at 935.

Plate aspectTechnology stocks fell generally, NetEase, Inc and BABA fell 2.6%, Meituan and Baidu, Inc. fell more than 1%, Internet medical stocks Alibaba Health Information Technology fell more than 10%, and Ping An Healthcare And Technology fell 6%.

Evergrande concept stocks led the decline, inner housing stocks and property management stocks continued their decline, electric power stocks, coal stocks, catering stocks and biomedical stocks were in the doldrums throughout the day, and Haidilao International Holding fell nearly 5% to create new low prices.

The performance of new energy vehicle stocks was eye-catching. XPeng Inc. rose more than 8%, Li Auto Inc. rose more than 5%, and Byd Company Limited rose nearly 3%, all of which reached the highest level since listing.

In addition, the price increase is expected to stimulate, beer stocks are active throughout the day, gambling stocks, aviation stocks, semiconductor stocks are slightly stronger.

Individual stocks$Wuling Motor (00305.HK) $It rose sharply in late trading, closing up nearly 15%, and the main project of the new energy vehicle project of Guangxi Automobile Group was basically completed.

$Alibaba Health Information Technology (00241.HK) $Fell nearly 11%, the company issued a profit warning is expected to lose up to 320 million yuan in the first half of the year.

Yanzhou Coal Co., Ltd. (01171.HK) $Falling more than 8% led coal stocks lower. Xiaomo said the worst of the coal shortage was over and downgraded two coal stocks.

$New Oriental Education & Technology Group online (01797.HK) $跌4.58%，$New Oriental Education & Technology Group-S (09901.HK) $Down 4.95%, New Oriental Education & Technology Group announced online yesterday that it would stop operating out-of-school training services for compulsory education in mainland China.

$Sunac China (01918.HK) $Credit Suisse lowered its target price to HK $16.9, down 7.42%. It is expected that the company is more vulnerable to future sales uncertainty.

Shanghai Fudan (01385.HK) $A shares closed up more than 16 per cent, while H shares rose nearly 10 per cent, with net profit expected to rise 266 per cent in the third quarter.

$Hop King Pacific Group (01813.HK) $Down nearly 9%, Credit Suisse said it was under pressure to meet its full-year sales target and cut its target price by 27%.

$100 million and holding (00838.HK) $Soared 40% of the direct supply of Tesla, Inc. from Q3.

$Bilibili Inc.-SW (09626.HK) $Invest in news and information website Observer Network.According to SkyEye, on October 25th, Shanghai Observer Information Technology Co., Ltd., an affiliated company of Observer Network, changed its industry and commerce, adding Bilibili Inc. related company Shanghai Magic Information Technology Co., Ltd. as a shareholder, and its registered capital increased to about 123 million yuan at the same time.

Hong Kong stock exchange fund

As for the Hong Kong Stock Connect, there was a net outflow of HK $2.105 billion from Hong Kong Stock Connect (southbound) today.

Today's turnover of Hong Kong shares TOP20

Message surface

Ministry of Commerce: China's second-hand car export has great potential for development, and relevant promotion policies will be introduced.The person in charge of the Foreign Trade Department of the Ministry of Commerce pointed out that China's second-hand car export faces many favorable conditions and has great potential for development in the future. At present, the export of used cars is in the early stage of exploration. In order to promote the healthy and orderly development of used car exports, the Ministry of Commerce will work with relevant departments to do a good job.

Domestic commodity futures closed, the main contract of red jujube fell by the limit.Domestic commodity futures closed with mixed ups and downs, red jujube main contracts fell by the daily limit, Zheng coal fell by more than 7%, ferrosilicon fell by more than 6%, PVC fell by more than 3%, and soda ash and soda ash fell by more than 1%, pulp and peanuts fell slightly, iron ore and Zhengyou rose by more than 3%, NR and Shanghai nickel by more than 2%, corn and Apple Inc by more than 1%, white sugar and thread by a small margin.

T3 Travel completed round A financing of 7.7 billion yuan, led by CITIC consortium.The reporter learned that T3 Travel announced the completion of the 7.7 billion yuan A round of financing, which was led by the Citic consortium. It is reported that this is the largest amount of domestic financing received by a ride-hailing company since 2018.

OPPO reforms the share incentive system, or plans to go public.According to an internal letter about compensation reform published on OPPO's intranet "Hio", OPPO will change the compensation mechanism that has been in place for several years, introducing "performance stocks" into the salary composition of employees, and the stock will become an important part of its salary.

Institutional viewpoint

Morgan Stanley: as the Federal Reserve begins to tighten monetary policy, the fundamental outlook of the stock market deteriorates.

Mike Wilson, chief investment officer of Morgan Stanley, believes that the stock market outlook is deteriorating. Inflation expectations still seem strong for consumers and businesses, but the outlook looks bleak for corporate earnings and economic growth. It is believed that the overall slowdown will be more severe than expected and will last longer, as demand will fall early next year and personal disposable income will fall sharply from a year earlier. As the Fed begins to tighten monetary policy, economic growth will slow further into next year, and the fundamentals of the stock market are deteriorating. However, asset prices remain high as high-income retail investors continue to put money into these investments.

HSBC: upgrade the rating of Chinese stocks to overweight, real estate stocks and some bank stocks have investment value.

HSBC upgraded Chinese stocks to overweight from neutral and said investors were "too pessimistic" about the market. Analysts Herald van der Linde and others wrote in an Oct. 26 report that factors such as China's pressure on economic growth and a stronger dollar are well known and reflected in prices. Blue-chip stocks are now at attractive valuations and the fund's exposure to China is very low. Shares in real estate, some banking, industrial and medical sectors are considered valuable.

UBS: up-regulation$Li Ning Co. Ltd. (02331.HK) $Target price to HK $112.8, rating buy.

UBS reported that Li Ning Co. Ltd. sold better than expected in the third quarter and was confident that the brand would improve and its profit margin would expand, raising its target price to 112. 5% from HK $109.9. HK $8, maintaining the buy rating. According to UBS, Li Ning Co. Ltd. reported that retail sales grew by more than 40% year-on-year in the third quarter, better than the bank expected. The bank is concerned that the company's discount level in the third quarter has improved in the number of medium units compared with the same period last year and is the same as the level in the third quarter of 2019. In terms of store network, the number of YOUNG outlets of Li Ning Co. Ltd. and Li Ning Co. Ltd. accelerated, with a net increase of 99 and 96 respectively in the third quarter. In addition, management maintains year-round guidelines. Due to Li Ning Co. Ltd. 's strong sales performance in the third quarter and the recent stock price correction, UBS expects the market to have a positive reaction to the stock.

UBS: downgradeBlue Moon Group (06993.HK) $The target price is HK $7.8 with a neutral rating.

UBS issued a report lowering the target price of 06993.HK shares from HK $10.94 to HK $7.80, maintaining a neutral rating, and lowering the group's profit forecast for this year to 2023 to reflect the negative impact of community group buying, as well as increased investment in online marketing, live streaming and channel expansion. The bank said that maintaining Blue Moon's neutral rating was mainly due to the fact that the challenges posed by community group buying began to fade after the group had established partnerships with large companies over the past few months, while regulatory review also helped stabilize the pricing system. In addition, the Group's commitment to distributor reform has also begun to lead to revenue growth.