Zhitong Financial APP learned that Hong Kong stocks opened high. By the close, the Hang Seng Index was up 0.70% at 29253.66, the state-owned enterprises index was up 1.02% at 11531.40, and the red chip index was up 0.65% at 4266.63. The turnover in the market is 94.24 billion Hong Kong dollars.
The limit of southward connection between Shanghai and Hong Kong is 10.5 billion yuan, with a surplus of 10.907 billion yuan and an outflow of 407 million yuan. Shenzhen-Hong Kong links southward quota of 10.5 billion yuan, the remaining 10.306 billion yuan, inflow of 194 million yuan.
In the sector, the top three gains were biotechnology, consumer electronics and aviation services, up 6.90%, 4.42% and 3.38% respectively, while other finance, satellite communications and supply chain management fell by 1.08%, 0.94% and 0.69%, respectively.
Blue chips rose. The top three gainers were China Resources Beer (00291), Ping An Insurance (02318) and Kunlun Energy (00135), up 4.33%, 4.20% and 3.87%, respectively.
In terms of individual stocks, the top three gainers were BofA Group (03326), Guangzhou Agricultural and Commercial Bank of China (01551) and Weihuada Holdings (00622), up 22.19%, 16.44% and 16.13%, respectively. Hans Energy (00554), Beautiful China Holdings (00706) and AVIC International Holdings (00161) fell 22.02%, 15.87% and 9.47%, respectively.
The top three gainers of Hong Kong stocks were Guangzhou Agricultural and Commercial Bank of China (01551), Genscript Biotech Corporation (01548) and Lenovo Holdings (03396), up 16.44%, 9.53% and 9.44% respectively. The top three declines were Li & Fung (00494), Qihe Environmental Protection (00976) and BOC Capital (01141), down 4.74%, 4.06% and 3.70% respectively.
The hot stock, China Longgong (03339), rose 3.38% throughout the day to quote HK $3.06. China Longgong expects a sharp increase in net profit in 2017, mainly due to an increase in operating income, an increase in comprehensive gross profit margin and effective control of costs compared with last year.
Qinda Group (01172) rose 8.75% throughout the day to quote HK $0.43. Qingda Development bought 60.8 per cent of Qinda shares from Chuang Shi Institution (00367) for HK $789 million, equivalent to HK $0.392 per share, or 1.8 per cent premium.
Kingsley (01548) rose 9.53% throughout the day to quote HK $16.32. The application for clinical registration of CAR-T cell autotransfusion preparation under Genscript Biotech Corporation's Nanjing Legend Biotech Corp Technology Co., Ltd. was accepted by the State Administration of Food and Drug Administration (CFDA), which is also the first CAR-T clinical application to be examined in the country.
Market analysis, looking forward to the imminent implementation of tax reform, the United States three major stock indexes all set a record high, driving the Hang Seng Index to open higher. The full release of fear of heights in internal insurance stocks has promoted the strong rebound of internal risk stocks today, Tencent has also broken through the 400th hurdle again, and star stocks have also been built one after another. In the peripheral market, US stocks continue to speculate on the news that the tax reform plan has been passed, and investors in the market have almost decided that it will be successfully approved and signed this week. However, at this stage, the focus is still on risk prevention, as long as there is still short energy in the release, the market is hardly stable. And from the point of view of the sharp contraction in energy, the bulls are not strong, unless the next rise in trading volume can catch up.