Futu News reported on November 2 that gains in the three major Hong Kong stock indices narrowed in the afternoon. The Hang Seng Index closed up 0.75%, the Science Index rose 1.63%, and the National Index rose 0.88%.
By the close, Hong Kong stocks were up 975, down 856, and closed 1,132.
The specific industry performance is as follows:
In terms of the sector, Science Network shares have generally risen.Xiaomi rose more than 6%, Station B rose more than 3%, Baidu and Alibaba rose more than 1%, NetEase, Kuaishou, and JD rose about 1%, Tencent rose slightly, and Meituan fell nearly 1%.
Auto stocks led the way throughout the day.Xiaopeng Motor rose more than 7%, Geely rose nearly 4%, Ideal Auto rose nearly 3%, Great Wall Motor and NIO rose more than 2%, and Zero Sports and Brilliance China followed suit.
Pharmaceutical stocks have had mixed ups and downs.Genting Xinyao rose nearly 5%, Kangfang Biotech rose more than 3%, Connoah and Rongchang Biotech fell more than 2%, and Kangming Biotech and BeiGene fell about 2%.
Some telecommunication equipment stocks are trending,Tongda Group rose more than 11%, BYD Electronics rose nearly 5%, and Shunyu Optical Technology and Ruisheng Technology rose more than 1%.
On the other side, heavy machinery stocks have declined markedly. Sany International has plummeted by more than 6%, and China Union Heavy Industries has followed suit. Sinotruk and Zhonglian Heavy Industries have followed suit. The weighted food and beverage stocks Yum China and Haidilao have continued to decline yesterday, and Haidilao has even fallen below the 100 billion Hong Kong dollar mark.
In terms of individual stocks,$GWMOTOR (02333.HK)$The increase was more than 2%, the third quarter performance was strong, and the scale was expanded or profitability strengthened.
$LI NING (02331.HK)$With an increase of more than 3%, the company gave priority to solving the problems of overstocking and bargaining. GIC recently increased its holdings by nearly HK$200 million.
$LENOVO GROUP (00992.HK)$The increase was about 4%, and the global PC market ranked first in the third quarter.
$XIAOMI-W (01810.HK)$The increase was more than 6%. The cumulative payment amount for all channels of Double 11 exceeded 10 billion dollars, and the first sale of the Xiaomi 14 series set a record.
$Link Real Estate Investment Trust (00823.HK)$The increase was close to 7%, the Fed once again suspended interest rate hikes, and the policy report favors a recovery in transactions.
$XPENG-W (09868.HK)$The increase was more than 7%, and delivery exceeded 20,000 units in October, setting a new record in the history of monthly deliveries.
$EAST BUY (01797.HK)$The drop is close to 7%, and the introduction of a membership system has sparked controversy. The effects still need to be seen.
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$941 million today.
Agency Perspectives
Citibank: Giving Xiaomi Group a “buy” rating, and the target price was raised to HK$17.1
According to a research report released by Citi,$XIAOMI-W (01810.HK)$The “buy” rating. The bank's positive catalytic observation on the 30th is expected to be strong in the third quarter. It is expected that the profit in the third quarter will be strong. The latest flagship phone, the Mi 14, and upcoming products, will support wholesale channel sales. It is expected that ideal performance and gross margin will drive stock prices. The new Redmi Note model supports an increase in shipments in the first half of next year.
Macquarie: Lowered Yum China's target price to HK$341, and the rating “outperformed the market”
According to Macquarie's report,$YUM CHINA (09987.HK)$Restaurant profit margins fell 1.8 percentage points to 17% in the third quarter, mainly due to the lack of temporary subsidies in the same period last year, salary inflation, and the return to normal number of employees and promotional activities. Management expects the fourth quarter to still face headwinds. The bank lowered its profit forecast for the three-year period from this year to 2025 by 6.8%, 7.5% and 6.3% respectively. The target price was lowered from HK$390 to HK$341, with a rating of “outperforming the market”.
Yamato: Raised Great Wall Motor's target price to HK$15 to maintain “buy” rating
According to a report published by Yamato,$GWMOTOR (02333.HK)$The third quarter's performance was strong, with net profit up 42% year on year and 206% month on month to 3.6 billion yuan. During the period, due to falling battery raw material prices and economies of scale, upstream supply chain costs were reduced by 1 billion yuan. The bank raised its revenue forecast for the three-year period from this year to 2025 by 4 to 11%, mainly due to its strong product line, which helped increase market share. The gross margin forecast was also raised by 0.8 to 1.1%, and the target price was raised from HK$11 to HK$15, maintaining the “buy” rating.
Edit/Chris
