Futu News reported on November 17 that the three major indices of Hong Kong stocks were sluggish throughout the day. The Hang Seng Index closed down 2.12%, the Science Index fell 1.72%, and the National Index fell 2.33%.
By the close, Hong Kong stocks had risen 662 shares, down 1,164 shares, and closed at 1,139.
The specific industry performance is as follows:
In terms of the sector, most of the Internet of Technology stocks fell. Alibaba fell nearly 10%, Bilibili fell nearly 7%, Baidu fell nearly 5%, Meituan fell nearly 4%, Tencent Holdings fell nearly 3%, JD and Kuaishou fell more than 2%, NetEase rose more than 2%, and Xiaomi rose more than 1%.
Auto stock trends are divided. Ideal Auto rose more than 3%, Zero Sports Auto rose nearly 2%, Great Wall Motor rose nearly 1%, NIO fell more than 3%, BYD shares fell nearly 3%, and Brilliance China fell nearly 1%.
Domestic housing stocks and property management stocks declined one after another. Sunac China fell by more than 5%, China Resources Land and China Jinmao fell by about 4%, China's overseas development fell by more than 2%, Vanke Corporation fell by more than 1%, and Longhu Group fell slightly.
Pharmaceutical stocks had mixed ups and downs. Pharmaceuticals and Pharmaceuticals rose nearly 36%, Genting Xinyao rose nearly 7%, Connaught rose more than 6%, Kingsley Biotech rose more than 3%, Corning Jerry Pharmaceuticals fell more than 7%, and Pharmaceuticals Biotech fell more than 1%.
Apple concept stocks bucked the market and strengthened. Ruisheng Technology rose more than 8%, Gaowei Electronics rose nearly 3%, and Qiuti Technology and BYD Electronics rose more than 2%.
Elsewhere, sporting goods stocks, heavy machinery stocks, petroleum stocks, wind power stocks, lithium battery stocks, and domestic insurance stocks performed poorly throughout the day, while leading stocks in industries such as China Taibao, China Ping An, and China Merchants Bank declined one after another.
In terms of individual stocks,$GOME RETAIL (00493.HK)$The increase is over 80%, and the Gome supermarket is officially launched. It plans to open 10,000 stores in three years.
$WUXI XDC (02268.HK)$It rose nearly 36% and was listed for the first time. The agency gave Pharmaceuticals Joint Stock Co., Ltd. an initial “buy” rating.
$AAC TECH (02018.HK)$With an increase of more than 8%, the mobile phone recovery trend continues, and institutions expect the Q4 mobile market to resume growth.
$LI AUTO-W (02015.HK)$With an increase of more than 3%, MEGA started booking today, and the number of bookings has already exceeded 10,000.
$LENOVO GROUP (00992.HK)$With an increase of more than 1%, AI PCs will soon be launched to promote a wave of switching next year.
$BABA-SW (09988.HK)$It fell nearly 10%. The profit attributable to shareholders in the third quarter turned a year-on-year loss into a profit of 27.706 billion yuan, and Ma Yun Family Trust plans to reduce its holdings by 10 million shares.
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$3.74 billion today.
Agency Perspectives
Goldman Sachs: Maintaining Ali's “Buy” Rating, Target Price HK$131
Goldman Sachs published a report stating,$BABA-SW (09988.HK)$The results for the second fiscal quarter were generally in line with expectations. The management announced that due to uncertain chip restrictions, the cloud business will not be completely spun off. The new management team includes Chairman Cai Chongxin and others. Management is still conservative about the outlook, consumer demand is still recovering, and the advertising business is expected to grow healthily.
Daimo: Maintaining Lenovo Group's “increased holdings” rating, and the target price was raised to HK$10
According to a report published by Morgan Stanley,$LENOVO GROUP (00992.HK)$Both revenue and net profit for the second quarter were better than the company's expectations. The bank's revenue for the 2024 fiscal year was about US$55.9 billion, down 10% from year to year, net profit margin of 1.8%, and net profit of US$1 billion. It believes that the stock price has a negative reaction to the reduction in guidelines, but it believes it can be absorbed while it is low, maintaining a positive impact on the recovery of the personal computer market from 2024 to 2025. The target price was raised from HK$9 to HK$10, maintaining the “increase in holdings” rating.
Lyon: Maintaining NetEase's “buy” rating and raising target price to $142
According to a report published by Lyon,$NTES-S (09999.HK)$Revenue for the third quarter rose 11.6% year on year to 27.3 billion yuan, 2% lower than the bank's forecast, but adjusted EBIT rose 51.8% year on year to 8.4 billion yuan, 11% higher than the bank's forecast. Online game revenue increased 17.5% year on year, mainly driven by popular games such as “Justice Mobile.” The bank raised its adjusted net profit forecast for this year and next two years by 6% and 4% respectively, and raised the target price from $130 to $142, maintaining the “buy” rating.
Edit/Chris