Futu News reported on October 18 that the three major Hong Kong stock indices fluctuated and declined. The Hang Seng Index closed down 0.23%, the Codex fell 1.67%, and the National Index fell 0.28%.
By the close, Hong Kong stocks had risen 575, fell 1,235, and closed 1,159.
The specific industry performance is as follows:
In terms of the sector, Science Network shares generally declined.Kuaishou fell nearly 9%, Baidu fell nearly 5%, JD fell more than 3%, Shang Tang fell more than 1%, Bilibili, Meituan, Tencent, Alibaba, and NetEase followed suit, and Xiaomi rose more than 1%.
Auto stocks were strong throughout the day.BYD rose nearly 7%, Great Wall rose more than 2%, NIO rose more than 1%, Geely, Ideal, and Zero Run followed suit, and Xiaopeng fell more than 1%.
Domestic housing stocks and property management stocks have generally weakened.China Evergrande fell nearly 9%, Sunac China fell more than 6%, Country Garden services fell more than 2%, Longhu Group and China's overseas development fell more than 1%, China Resources Land and Vanke companies followed suit, and Country Garden rose more than 1%.
Pharmaceutical stocks continued to decline,Clover Biotech fell more than 10%, Kingsley Biotech fell more than 5%, Cansino Biotech and Tiger Pharmaceutical fell more than 4%, Cinda Biotech fell nearly 4%, BeiGen and Federal Pharmaceuticals fell more than 3%, Zaiding Pharmaceutical fell nearly 3%, Pharmaceuticals fell nearly 3%, Pharma Pharmaceuticals fell nearly 3%, Pharma Pharmaceuticals dropped nearly 2%, Giants Biotech dropped nearly 2%, and Kangfang Biotech dropped more than 1%.
Other than that, lithium battery stocks, Tesla concept stocks, etc. rose one after another; sporting goods stocks, semiconductor stocks, and petroleum stocks were mostly active; power stocks and building materials and cement stocks declined one after another.
In terms of individual stocks,$BYD COMPANY (01211.HK)$It surged by nearly 7%, and net profit is expected to increase 120.16% to 141.64% year-on-year in the first three quarters.
$SHENZHOU INTL (02313.HK)$It has risen by more than 4%. The agency indicates that its fundamentals have already reached an inflection point, and they are optimistic about a recovery in valuations.
$LENOVO GROUP (00992.HK)$A sharp drop of more than 10%,$LM Ericsson Telephone (ERIC.US)$Sued Lenovo for infringement of 5G patents.
$GANFENGLITHIUM (01772.HK)$It fell more than 4%,$TIANQI LITHIUM (09696.HK)$It fell more than 2%, and lithium stocks fell under pressure.
$EVERGRANDE (03333.HK)$,$EVERG SERVICES (06666.HK)$It fell nearly 9%, domestic housing sales remained sluggish, and the development of related housing enterprises still had a great impact on property enterprises.
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 outflow of HK$4.326 billion today.
Agency Perspectives
Daimo: Maintains Tencent's “increase holdings” rating, with a target price of HK$450
Morgan Stanley released a research report saying that it is expected$TENCENT (00700.HK)$Third-quarter revenue and non-GAAP operating profit increased 11% and 24% year-on-year, respectively. According to the bank, the Group's game business is recovering and advertising growth continues. Positive operating leverage has also brought profit expansion to the company, maintaining its “increase in holdings” rating and target price of HK$450.
UBS: Giving a “buy” rating for BYD shares, target price of HK$345
UBS released a research report saying that$BYD COMPANY (01211.HK)$It has a “buy” rating and is listed as the preferred electric vehicle stock. It is believed that the market will raise its expectations for the whole year. Entering the fourth quarter, it is predicted that exports and new high-end models will contribute more sales volume, becoming the main driving force for profit growth, with a target price of HK$345.
Jefferies: Assigned a “buy” rating to Baidu Group-SW, with a target price of HK$209
Jefferies released a research report saying that$BIDU-SW (09888.HK)$“Buy” rating, target price HK$209. The company hosted the Baidu World Conference 2023. Highlights of the day included four key capabilities that lay the foundation for artificial intelligence applications; the release of Wenxin Yiyan 4.0; Baidu's new search engine that accurately and directly recovers problems, personalized recommendations and diverse interactions; the launch of an Al native marketing platform; a variety of artificial intelligence application displays; and Baidu Smart Cloud QianSails model platform.
editor/tolk
