The Zhitong Finance App learned that Hong Kong stocks fluctuated and declined. At the close, the Hang Seng Index fell 1.09% to 28848.11 points; the State-owned Enterprises Index fell 1.44% to 11365.92 points; and the Red Chip Index fell 1.43% to 4238.98 points. Market turnover was HK$126.474 billion.
The Shanghai-Hong Kong Stock Connect went southbound with a quota of 10.5 billion yuan, leaving a balance of 8.587 billion yuan, with an inflow of 1,913 billion yuan. The Shenzhen-Hong Kong Stock Connect went southbound with a quota of 10.5 billion yuan, leaving a balance of 9.442 billion yuan, with an inflow of 1,058 billion yuan.
In terms of sectors, the top three gains were lottery stocks, radio, and entertainment facilities, which rose 2.78%, 2.21%, and 2.06% respectively; the top three declines were publishing, building materials and cement stocks, and batteries, which fell 3.4%, 3.1%, and 3.06% respectively.
Blue chip stocks declined. The top three declines were China Life Insurance (02628), Ping An of China (02318), and China Wangwang (00151), which fell 2.24%, 2.21%, and 2.16% respectively.
In terms of individual stocks, the top three gains were Sihai International (00120), Dajin Oriental Lighting (00515), and Tongfang Ted (01312), which rose 13.7%, 13.51%, and 13.21% respectively; the top three declines were Jiancheng Holdings (01630), Sunac China (01918), and Longxiang Group (00935), which fell 11.60%, 10.62%, and 10.43% respectively.
The top three gains in Hong Kong stock trading were China Shipbuilding Defense (00317), Li & Fung (00494), and CIMC Anruke (03899), which rose 10.23%, 8.58%, and 7.88% respectively; the top three declines were Sunac China (01918), Qiutai Technology (01478), and China Building Materials (03323), which fell 10.62%, 7.1%, and 6.7% respectively.
The popular stock, Li & Fung (00494), rose 8.58% throughout the day and was priced at HK$4.43. Li & Fung said yesterday that it has agreed to sell a business unit to a company partially owned by a majority shareholder. The sales division includes Li & Fung's furniture, beauty and sweater business, with a transaction amount of 1.1 billion US dollars. A portion of the proceeds from the sale will be used to pay $520 million in special dividends to shareholders, and the rest will be used to strengthen the capital structure.
China Shipbuilding Defense (00317) rose 10.23% throughout the day at HK$12.28. As an A+H share, China Shipbuilding Defense suspended trading of A-shares in September and announced restructuring matters on the 20th. Considering the recent state-owned enterprise reform as one of the main policy directions, there have been many pullbacks, and the value rate is very high.
The IPO Youlai Interactive (02022) rose 7.94% throughout the day and was priced at HK$0.68. According to Chinatai International's analysis, in terms of valuation, the company's market capitalization is smaller than Boya Interactive (00434) and Lianzhong (06899), at HK$1,26-1.7 billion. The price-earnings ratio is between 23.1-31.1, and the net market ratio is 3.15-3.27, both higher than the average in the industry and higher than that of ordinary game companies. In terms of profitability, the net profit margin on sales is slightly higher than the average of peers. Taken together, the company's valuation level is average.
According to market analysis, US stocks closed lower overnight, dragging down the Hong Kong stock ADR index. Affected by the bleak market, Hong Kong stocks continued to fall today. The decline widened in the afternoon, falling as low as 400 points. There was a slight increase at the end of the session, but the increase was not strong. There was little rise and fall in the sector, and market hot spots were scarce. Today, A-shares are also in a volatile downward pattern as a whole. The market believes that the strong pullback in Hong Kong stocks is not over yet, and that the daily transaction amount remains at the level of 100 billion dollars, indicating that market investment sentiment has not improved. It is recommended that short-term investments still focus on safe-haven.