Futu News reported on March 24 that the trend of the Hong Kong stock index was divided. The three major indices rose rapidly in early trading. The Hang Seng Technology Index once rose to 2.25% and eventually closed up 0.62%. The Hang Seng Index fell 0.67%, falling 0.67%, once again falling below the 20,000 mark.
By the close, Hong Kong stocks had risen 787, fell 1,039, and closed at 1,164.
The specific industry performance is as follows:
On the sector side, Technet's stock has had mixed ups and downs.Baidu rose 1.5%, Kuaishou, Xiaomi, NetEase, etc. rose slightly, while Ali and Meituan fell more than 1%.
Most ChatGPT concept stocks have risen.Jinshanyun rose more than 15%, Meitu rose more than 10%, Reading Wen Group rose more than 3%, and NetEase and Shang Tang followed suit.
Internet medical stocks have seen strong gains.Jingdong Health rose more than 14%, Ping An Good Doctor rose more than 6%, Ali Health rose more than 3%, and Jingdong Health rose more than 2%.
The concept of electronic components is getting stronger,Gaowei Electronics rose more than 12%, Ruisheng Technology rose more than 7%, and Qiutai Technology rose slightly.
Hong Kong bank stocks are dragging down the market,Standard Chartered Group and HSBC Holdings fell about 3%, while Hang Seng Bank and Bank of East Asia followed suit.
On the other hand, oil stocks, telecommunications stocks, and domestic insurance stocks are under pressure, and stocks such as luxury goods stocks, sporting goods stocks, beer stocks, and mobile game stocks have risen one after another.
In terms of individual stocks,$BIDU-SW (09888.HK)$With an increase of over 1.5%, Wen Xin's first product to land in the pharmaceutical industry, GBI-Bot was officially released.
$COWELL (01415.HK)$It rose more than 12%. In 2022, the company achieved a 39.65% year-on-year increase in revenue, and Guimu's net profit increased 69.27% year-on-year.
$LENOVO GROUP (00992.HK)$A rise of more than 8% and a cumulative increase of more than 20% in two days. The company will cooperate with Nvidia to build a “superbrain” for car computing.
$KINGSOFT (03888.HK)$It rose more than 7%, and after the performance, many institutions raised their target prices.
$KINGSOFT CLOUD (03896.HK)$It has risen more than 15%, and many institutions say that profit levels are expected to improve.
Today's Top 20 Hong Kong Stock Turnovers
Hong Kong Stock Connect Capital
On the Hong Kong Stock Connect side, Hong Kong Stock Connect (southbound) had a net inflow of HK$6.15 billion today.
Agency Perspectives
Xiaomo: The target price of Lenovo Group was raised to HK$10, and the rating was upgraded to “increase holdings”
Xiaomo released a research report saying that it will$LENOVO GROUP (00992.HK)$The rating was upgraded from “neutral” to “increase holdings”, raising the profit forecast for the 2024-25 fiscal year by 12%/20%, and the target price from HK$6.6 to HK$10. According to the report, there have been initial signs that demand in the personal computer (PC) market is stabilizing. Coupled with continued improvements in server business profits, and potential market share growth potential for the Group due to Inspur Group's recent inclusion in the entity list.
Jefferies: Raising Jinshan Software's target price to HK$40, rating “buy”
According to a research report published by Jefferies,$KINGSOFT (03888.HK)$Total revenue for the fourth quarter of last year was RMB 2.11 billion, an increase of 16% year-on-year and a 15% quarterly increase, all higher than the market and the bank's expectations. Online gaming revenue during the period was 1,022 million yuan, up 11% year-on-year, 23% quarterly, and accounting for 48% of total revenue; revenue from office software and services was 1.09 billion yuan, up 21% year-on-year, 9% quarterly, and accounted for 52% of total revenue. Both are in line with expectations. The bank expects that Jinshan Software's online games will increase by the number of units this year over year. Due to the release of new games, growth in the second half of the year will be faster than in the first half of the year. In terms of office software, it is expected to benefit from opportunities to generate artificial intelligence to enhance future user experiences. Its target price was raised from $32 to HK$40 to maintain its “buy” rating.
Bank of America Securities: Reiterating JD Health's “buy” rating, target price rises to HK$88
Bank of America Securities released a research report saying, “Reiterating$JD HEALTH (06618.HK)$The “buy” rating, considering the positive outlook, raised the revenue forecast for 2023 to $61 billion, or a year-on-year increase of 31%; adjusted net profit may increase 40% to $3.7 billion. The profit margin is expected to reach 6%, and the target price will rise from HK$80 to HK$88. The company's revenue for the second half of last year was higher than market expectations, and the adjusted net profit was in line with expectations.
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Editor/Corrine