Evaluation of Hong Kong stocks

Futu Information on January 19 | Hong Kong stocks closed mixed. The Hang Seng Index rose 0.06%, the National Index fell 0.09%, and the Hang Seng Technology Index fell 0.98%.

As of the close, Hong Kong stocks rose 882 today, fell 986 to close flat 982.

Plate aspectLarge technology stocks fell back in the afternoonJD.com rose nearly 1%, Tencent closed up 0.66%, Kuaishou Technology fell more than 2%, BABA and XIAOMI fell nearly 2%.

Inner housing stocks strengthen againAgile and Xuhui Holdings rose by more than 12%, Shimao Group by more than 11%, Country Garden Holdings by more than 8%, Sunac China by more than 7%, China Overseas Land & Investment and China Evergrande Group by nearly 5%, Longfor Group by more than 5%, China Resources Land by nearly 4% and Vanke by nearly 3%.

Property management stocks rose sharply along with the inner housing stocks.Xuhui Yongsheng service and Xincheng Hyatt service rose by more than 10%, Country Garden Services Holdings and Sunac Services by more than 10%, Shimao service by nearly 8% and China Resources Mixc Lifestyle Services by more than 7%.

The concept of green electricity is collectively pulled up.China's electricity rose by more than 4%, China Longyuan Power Group Corporation and China Resources Power Holdings by nearly 4%, and CGN new energy by nearly 2%.

Building materials cement stocks continue to be activeChina National Building Material rose by more than 5%, Anhui Conch Cement and China Resources cement by more than 4%, Shanshui cement by nearly 3%, and Jinyu Group followed.

Coal stocks continue their recent strengthChina Qinfa is up more than 5%, China Shenhua Energy and Yanzhou Mining Energy are up about 4%, Shougang Resources are up more than 2%, and Yitai Coal is up.

Pharmaceutical stocks fellWuxi Apptec fell by more than 7 per cent, Pharmaron Beijing Co., Ltd.* by more than 3 per cent, Wuxi Biologics by nearly 3 per cent and Gloria by nearly 1 per cent.

In other areas, steel, insurance and gas sectors rose at the top, while auto, clothing, gas and electronic components stocks fell.

Individual stocks$JD.com Group-SW (09618.HK) $It rose nearly 1%, and at one point it rose nearly 4% in intraday trading, reaching a strategic cooperation agreement with Shopify Inc.

$Country Garden Holdings (02007.HK) $Rising by more than 8%, institutions mean that mortgage interest rates may be lowered, and the investment and financing difficulties of real estate enterprises are expected to improve marginally.

$Xuhui Holdings Group (00884.HK) $Up more than 12%, the company announced that maturing redemptions will mature 5.5% of preferred notes in 2022.

$China Resources Power Holdings (00836.HK) $With an increase of nearly 4%, the NDRC expects electricity consumption to continue to grow rapidly in 2022.

$Golly Pharmaceuticals-B (01672.HK) $It rose more than 22% in late trading and more than 107% in the month.Sign the purchase agreement of ritonavir tablets with Laos Phokam.

$medium mobile games (00302.HK) $Up more than 3%, Microsoft Corp plans to buy Activision Blizzard, brokers suggest to pay attention to high-quality game manufacturers.

$China Shenhua Energy (01088.HK) $Up nearly 4%, thermal coal futures rose nearly 7%, institutions expect the coal market to reverse.

$China National Building Material (03323.HK) $With an increase of more than 5%, water conservancy infrastructure is just around the corner, and the cement industry may benefit.

$Man Wah (01999.HK) $It is up more than 2% and plans to buy industrial land in Monterrey, Mexico, to cope with the risk of fluctuations in global sea freight rates.

$Wuxi Apptec (02359.HK) $After the performance, it fell by more than 7%, the annual net profit increased faster than expected, and the growth rate of income in a single quarter continued to slow compared with the previous quarter.

Hong Kong stock exchange fund

As for Hong Kong Stock Connect, there was a net inflow of HK $590 million from Hong Kong Stock Connect (southbound) today.

Today's turnover of Hong Kong shares TOP20

Message surface

The NDRC issued a number of opinions on promoting the healthy and sustainable development of the platform's economic norms.It is suggested that we should strengthen supervision in the field of payment, disconnect payment instruments from other financial products, govern exclusivity in the payment process or "choose one of the two" in accordance with the law, strengthen supervision over the abuse of market dominance related to non-bank payment services, and study and issue regulations on non-bank payment institutions. Standardize the use of data on the platform, strictly supervise the credit business, and ensure that the business is licensed and operated in accordance with the law. We will implement the regulatory system for financial holding companies, strictly examine the qualifications of shareholders, strengthen penetrating supervision, and strengthen comprehensive risk management and related party transaction management. We will strictly regulate the investment of platform enterprises into financial institutions and local financial organizations, and urge platform enterprises and their holding and shareholding financial institutions to strictly implement the capital and leverage requirements.

SASAC: steadily promote the reorganization and integration of iron and steel and other fields to timely study the establishment of a new central enterprise group.Peng Huagang, spokesman for the State-owned assets Supervision and Administration Commission, said that we will firmly promote the reorganization and professional integration of central enterprises. In terms of strategic restructuring, we focus on implementing national strategies such as supply-side structural reform, innovation-driven development, and building a manufacturing power, and steadily promote restructuring and integration in iron and steel and other fields in accordance with the principle of "mature one household, promoting one household". Timely study and establishment of new central enterprise groups in related fields. In terms of professional integration, we will aim to strengthen and refine our business, take advantageous enterprises as the main body, actively promote professional integration in areas such as grain reserve processing, ports and terminals, and effectively improve the efficiency of resource allocation and the core competitiveness of enterprises.

2021 Hurun China Top 500th release: byte jump, Ningde era, Meituan value growth the most.Hurun Research Institute released the "Top 2021 Hurun China 500s", listing China's top 500 non-state-owned enterprises, ranking them by market capitalization or valuation. It is reported that the threshold for China's top 500 to join the list has been raised by 9 billion yuan (39%) to 32 billion yuan, an all-time high. The value of 34 enterprises has more than doubled, and the value of 3 enterprises has increased by hundreds of billions of dollars, led by byte jump, followed by Ningde era and Meituan. Tencent's value fell by 1 trillion yuan a year, but he still became the highest-valued non-state-owned enterprise in China with 3.9 trillion yuan. Taiwan Semiconductor Manufacturing Co Ltd ranked second with 3.7 trillion yuan, while BABA's value halved to 2.5 trillion yuan, dropping one place to third.

Byte jump in response to the overall abolition of the investment business.According to a number of sources, byte jump will abolish the investment business as a whole, involving about 100 employees. Among them, Zhao Pengyuan, the head of strategic investment, and some employees of the war investment section may give up the investment business and merge into the strategic business, while the financial investment section will be completely disbanded. Then the person in charge of the byte responded that the company conducted an inventory and analysis of the business at the beginning of the year, decided to strengthen the business focus, reduce the investment with low coordination, and disperse the staff of the strategic investment department into various business lines. strengthen the coordination between strategic research functions and business. The relevant business and teams are still engaged in planning discussions.

Chinese electric car maker Chinese Express plans to IPO in Hong Kong.According to the media: Gao he's parent company, Chinese Express, is considering a US $500 million Hong Kong IPO, and working with UBS and Morgan Stanley on IPO matters, considering a Hong Kong IPO as early as 2022.

Institutional viewpoint

Fu Rui: maintain$Tencent (00700.HK) $With a "buy" rating, the target price fell slightly to HK $610.

Fu Rui released a research report saying that it maintained Tencent's (00700) "buy" rating and slightly reduced its revenue forecast for the fourth quarter of 2021 by 1.5%, due to changes in business forecasts. The full-year earnings forecast for 2021 was also lowered to reflect changes in the industry environment in the second half of 2021 and at the beginning of the year, with the target price reduced from HK $628 to HK $610, and non-GAAP earnings forecasts for 2021-23 by 3%, 5% and 3%.

CICC: it is suggested to seize the opportunity of allocation of leading housing enterprises. Be optimistic.$China Resources Land (01109.HK) $Wait for shares.

CICC said in a report that the overall trend of new home sales in the mainland continued to be depressed in the first two weeks of January, and looking forward, the short-term trend of sales will still be dominated by bottom shocks. Considering that the current policy direction is clear and effective adjustment measures have not yet landed, the industry is still in the process of accelerating clearing, while the valuation and position of the head housing enterprises are still not high, the bank continues to remind investors to actively grasp the allocation opportunity of the leading housing enterprises. The bank refers to the recommendation of China overseas, China Resources Land, Xuhui, Jianfa International, Yuexiu Real Estate and Country Garden Holdings. The property management plate also suggests the allocation value of high-quality housing related enterprises, and recommends Poly property, Xuhui Yongsheng Service, China Resources Mixc Lifestyle Services, China Shipping property, Country Garden Services Holdings, Jinke Service.

Dama: continue to prefer pharmaceutical companies with innovative drug product line, the first choice$INNOVENT BIO (01801.HK) $、$Wuxi Biologics (02269.HK) $。

Morgan Stanley believes that after the mainland health care industry has experienced fluctuations in 2021, it is believed that the industry will be restructured this year, and the bank continues to prefer pharmaceutical companies with innovative drug product lines this year. Due to the improved mood in the biotechnology sector, it is expected that CDMO (commissioned development and production) related stocks have the potential to rebound. With increased domestic competition, higher regulatory standards for drug development and reduced visibility of overseas approval channels, innovation and biotechnology stocks, which already have global channels and ongoing R & D programs, are expected to be the most popular in the short term, the report said. INNOVENT BIO, for example. As the leaders of the pharmaceutical or biotechnology industries in the mainland are seeking transformation to the global stage, overseas may strengthen the requirements for clinical data of drug trials in the mainland and are also optimistic about the leaders of R & D services, such as Wuxi Biologics.

Goldman Sachs Group: raise the expectation of international oil price, be optimistic$Petrochina (00857.HK) $、$CNOOC Limited (00883.HK) $。

Goldman Sachs Group published a research report, raising the price forecast for Brent oil in 2022 and 2023 from US $81 and US $85 per barrel to US $96 and US $105 per barrel respectively. If the market supply needs to be balanced, the long-term oil price is expected to rise to $90 a barrel, and the spot price of Brent oil may reach $105 by 2023. The bank pointed out that Asian oil companies lack active hedging plans, with the largest exposure to spot oil prices in the industry. It is expected that higher oil prices this year and next will lead Asian oil companies to generate significant free cash flow, and raise their average EBITDA forecasts for 2022 and 2023 by 18% and 19%. The bank is mainly bullish on Petrochina Company Limited, raising its EBITDA forecast for the 2022-2023 fiscal year by 19% and 16%, raising the target price from HK $5.80 to HK $6.50, and putting it on the buy list. It is also bullish on CNOOC, raising its EBITDA forecast of 16% and 23% for fiscal year 2022-2023, raising its target price from HK $11.7 to HK $13.