Futu News reported on November 01 that the three major indices of Hong Kong stocks fell slightly in the afternoon, continuing a narrow volatile trend. The Hang Seng Index closed down 0.06%, the Science Index fell 0.18%, and the National Index fell 0.04%.
By the close, Hong Kong stocks had risen 785 shares, down 1,016 shares, and closed at 1,161 shares.
The specific industry performance is as follows:
In terms of the sector, SciNet stocks had mixed ups and downs.Site B fell more than 3%, Meituan, Baidu, and JD fell more than 1%, Tencent and Alibaba fell nearly 1%, NetEase fell slightly, Kuaishou rose nearly 2%, and Xiaomi rose more than 1%.
Auto stock trends diverge,Great Wall Motor rose more than 4%, Zero Sports Auto rose nearly 3%, Yadi fell about 3%, NIO, Brilliance China, and BYD fell nearly 2%, and Xiaopeng, Ideal Auto, and Geely declined slightly.
Domestic housing stocks and property management stocks generally declined.Vanke Enterprises rose more than 1%, Ocean Group fell nearly 4%, Xincheng Development, Yuexiu Real Estate, China Resources Land, and Longhu Group fell nearly 1%.
Most pharmaceutical stocks have risen,Giant Biotech and Genting Xinyao rose more than 7%, 3D Medicines rose more than 2%, Kingsray Biotech rose nearly 1%, Pharmacology and Kangde fell nearly 2%, and Pharmaceutical Biotech and BeiGene fell nearly 1%.
Semiconductor stocks have had mixed ups and downs.SMIC rose 3%, CLP Huada Technology rose more than 1%, Hongguang Semiconductor fell by more than 7%, and Shanghai Fudan fell by more than 4%.
Food and beverage stocks have plummeted.Haidilao and Yum China fell nearly 13%, and Jiumaojiu fell by about 7%.
Other than that, movie concept stocks, car dealership stocks, medical and aesthetic concept stocks, dairy products stocks, and petroleum stocks mostly rose.
In terms of individual stocks,$SMIC (00981.HK)$With a 3% increase, institutions expect global wafer shipments to rebound in 2024.
$LI NING (02331.HK)$The increase was about 4%. The agency indicated that its short-term inventory problem was manageable, and expected the health of the channel to improve.
$GWMOTOR (02333.HK)$The increase was more than 4%, the third quarter results exceeded expectations, and the company's overseas performance was excellent.
$GIANT BIOGENE (02367.HK)$The increase was more than 7%. Double Eleven pre-sale began, and the four-hour pre-sale in the US exceeded the full cycle of last year.
$YUM CHINA (09987.HK)$It fell nearly 13%, and third-quarter revenue of US$2.91 billion fell short of market expectations.
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$2,234 billion today.
Agency Perspectives
CCB International: Maintains Great Wall Motor's “neutral” rating, and the target price rises to HK$12.1
CCB International released a research report saying that the increase$GWMOTOR (02333.HK)$The target price was 33%, from HK$9.1 to HK$12.1, but the sales forecast was lowered by 3%, 3% and 6% to maintain a “neutral” rating due to adverse domestic factors. The bank believes that although$GWMOTOR (02333.HK)$The new model and long-term export growth potential are great, but recovery will take longer, and competition is increasing.
Omo: Give Kuaishou an “increase in holdings” rating. It is expected that Kuaishou's performance in the second half of the year will be strong
According to a report published by Morgan Stanley, it is expected that during the Double 11 shopping festival, it will benefit from advertising and e-commerce businesses and improvements in operating efficiency.$KUAISHOU-W (01024.HK)$The performance for the second half of the year will be strong, with an “increase in holdings” rating. This bank means, right$KUAISHOU-W (01024.HK)$The net profit forecast for the 2023-2024 fiscal year is 20% higher than the market forecast, and it is believed that since its adjusted net profit margin reached 10% in the second quarter, the 11% net profit margin next year is already a conservative expectation.
Jefferies: Yu Haidilao has a target price of HK$22.2 to maintain its “hold” rating
According to a report published by Jefferies,$HAIDILAO (06862.HK)$The announcement of the acquisition of an offshore Japanese hotel project, even though the investment amount was small, the stock price had fallen 9% on the same day. Because the transaction was a company-related transaction, plus the acquisition project had nothing to do with its mainland hot pot business, and would involve additional investment capital, this might distract attention from the core business. This bank refers to$HAIDILAO (06862.HK)$Management believes that the acquisition project will help improve its services and management. In addition, hot spring hotels can provide value-added services to the group and loyal customers in the future. They can also be used to host conferences, promote corporate culture, promote diversification of brand images, and seize more opportunities in the consumer market.
Edit/Chris