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港市速睇 | 三大指数集体收涨,恒指涨超1%;汽车股、手游股全天强势,零跑汽车涨近13%,创梦天地涨超9%

A quick look at the Hong Kong market | The three major indices collectively closed higher, with the Hang Seng Index rising more than 1%; auto stocks and mobile game stocks were strong throughout the day, Zero Sports Auto rose nearly 13%, and Dream Land ro

Futu News ·  Mar 28, 2023 16:18

Futu News reported on March 28 that Hong Kong stocks rose significantly in the afternoon. The Hang Seng Technology Index once rose to 1.7% and eventually closed up 0.94%. The Hang Seng Index and China Index rose 1.11% and 1.22% respectively.

By the close, Hong Kong stocks had risen 946, fell 866, and closed at 1,180.

The specific industry performance is as follows:

On the sector side, the majority of Science and Technology Network stocks have risen.Tencent rose more than 4%, Meituan rose more than 2%, JD and Baidu rose nearly 2%, Bilibili rose more than 1%, and Alibaba fell more than 1%.

Mobile game stocks are trending strongly.Dream World rose more than 9%, Tencent rose more than 4%, Jinshan Software rose nearly 3%, NetEase rose nearly 2%, and Xindong Company rose more than 1%.

Most auto stocks have strengthened.Zero Sports Auto rose nearly 13%, Xiaopeng Motor and Great Wall Motors rose more than 4%, Ideal Auto rose more than 3%, and BYD shares rose more than 1%.

Biotechnology has been weak throughout the day,Tengshengbo Pharmaceutical dropped more than 9%, Giants Biotech fell nearly 9%, Rongchang Biotech fell nearly 8%, and Kangxinuo Biotech and Nuocheng Jianhua dropped more than 5%.

Some domestic housing stocks have risen,Greentown China rose nearly 9%, Yuexiu Real Estate rose more than 6%, and Rongxin China and Agile Group rose nearly 2%.

In terms of individual stocks,$TENCENT (00700.HK)$It surged more than 4%. On March 27, Tencent Holdings relaunched its repurchase and repurchased 960,000 shares on the Hong Kong Stock Exchange. Each share was priced at HK$362.8 to HK$372.8 million, involving approximately HK$352 million.

$PICC P&C (02328.HK)$It surged more than 10%, and net profit of the mother increased 19% in '22. Haitong pointed out that its leading insurance market leader was steady+undervalued.

$TINGYI (00322.HK)$It fell more than 10%, and the net profit of the mother fell 30.8% in 2022, falling short of expectations.

$IDREAMSKY (01119.HK)$Gaming stocks rose more than 9%, and institutions said that loosening version approval boosted industry valuations.

$GREATWALL MOTOR (02333.HK)$An increase of more than 4%, and new energy vehicle products under the Haval brand have set up new independent channels.

Today's Top 20 Hong Kong Stock Turnovers

Hong Kong Stock Connect Capital

In terms of Hong Kong Stock Connect, Hong Kong Stock Connect (southbound) had a net inflow of HK$2,893 million today.

Agency Perspectives

  • J.P. Morgan: Lowering Meituan's target price to HK$190 and increasing its rating

According to a report published by J.P. Morgan Chase, it is expected that starting from the second quarter of this year,$MEITUAN-W (03690.HK)$Shifting its business strategy to competition in the in-store market is mainly due to the recovery and recovery of local consumer demand, and market traffic has reset the positioning competition between Meituan and Douyin. The bank anticipates that investors' concerns about Douyin's competition will turn into reduced attention and that the immediate impact will be quantifiable. The bank expects Meituan's stock price to respond positively to this result soon. Motong expects that Meituan's in-store revenue growth for the first quarter of this year and the next quarter will return to 23% and 44%, respectively. At the same time, it also expects Meituan's in-store operating profit margin to drop 35% in the next quarter. Meanwhile, in-store revenue growth may rebound to 35% and 25% this year and next year. The bank lowered Meituan's target price from HK$200 to HK$190, maintaining its holdings growth rating.

  • Macquarie: Raising Tencent's target price to HK$496, rating “outperforms the market”

According to Macquarie's research report,$TENCENT (00700.HK)$The fourth quarter's performance improved, and the pace of recovery in the advertising business was stronger than expected, strengthening the bank's confidence that Tencent's growth prospects have been restored. According to the report, many of Tencent's businesses continue to improve, the advertising business has performed excellently. The game continues to launch new products, and at the same time, the fintech market has also recovered. It predicts that the company's profit compound annual growth rate from 2022 to 2025 will reach 19%, and the earnings per share forecast for this year and next two years will be raised by 8% and 3%. The bank expects Tencent to have many long-term growth drivers such as video accounts, artificial intelligence, and the enterprise Internet. It believes that artificial intelligence will become a long-term growth multiplier within the WeChat ecosystem and drive synergies. It reiterated its “outperform the market” rating, and raised the target price from HK$453 to HK$496.

  • Goldman Sachs: Slightly raised Tencent Music's target price to HK$31.4, with a neutral rating

Goldman Sachs published a research report stating,$TME-SW (01698.HK)$The fourth quarter results of last year were in line with expectations, with revenue and net profit exceeding the bank's expectations by 1% and 2%, respectively. The bank estimates that Tencent Music's revenue mix is healthier this year. The main drivers include steady subscription growth (reduced discounts) and the company's advertising growth rate faster than peers after reopening. The bank raised Tencent Music's revenue forecasts for this year and next two years by 1% each, while its net profit forecast under non-GAAP remained roughly unchanged. The bank slightly raised its target price from HK$31.3 to HK$31.4, maintaining a neutral rating.

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