Futu News reported on November 23 that the three major indices of Hong Kong stocks rose in the afternoon. The Hang Seng Index closed up 0.99%, the Science Index rose 2.17%, and the National Index rose 1.58%.
By the close, Hong Kong stocks had risen 1,334 shares, down 562 shares, and closed with 1,071 shares.
The specific industry performance is as follows:
Sector-wise, Internet stocks have risen one after another. Baidu has risen nearly 7%, Bilibili has risen nearly 3%, JD Group and Xiaomi have risen by more than 2%, Tencent, Kuaishou, and Meituan have risen by about 1%, and Alibaba has risen slightly.
Auto stocks rose sharply. Xiaopeng Motor rose more than 6%, Zero Sports Auto rose more than 5%, Ideal Auto rose nearly 4%, Great Wall Motor and NIO rose more than 3%, Geely Auto rose more than 2%, and BYD shares rose about 1%.
Housing stocks and property management stocks led the market. Xuhui Holding Group rose more than 48%, Ocean Group rose more than 31%, Country Garden rose more than 23%, Longhu Group rose more than 13%, Vanke Enterprise rose nearly 7%, Sunac China rose more than 4%, and China Resources Land rose nearly 3%.
Pharmaceutical stocks generally rose. Jinsirui Biotech rose nearly 6%, Rongchang Biotech rose more than 3%, Kangfang Biotech rose more than 2%, BeiGene rose nearly 2%, and Yao Ming Kant and Genting Xinyao rose more than 1%.
Semiconductor stocks picked up in the afternoon. Hongguang Semiconductor rose more than 6%, Huahong Semiconductor rose nearly 3%, and Shanghai Fudan and SMIC rose nearly 2%.
Gold stocks fell against the market. Datang Tongjin fell by more than 8%, Shandong Gold and Zhaojin Mining by more than 2%, and Zijin Mining by more than 1%.
Other than that, some movie concept stocks and telecom equipment stocks declined, while China Tower and China Communications Service bucked the trend and fell by more than 1%.
In terms of individual stocks,$AKESO (09926.HK)$The increase was more than 2%, and the mid-term analysis of the phase III clinical trial of cardonil reached the main end of the progression-free survival period.
$LEAPMOTOR (09863.HK)$The increase is over 5%, and the stock exchange has been completed. Delivery to the European market is scheduled to begin in the third quarter of next year.
$BIDU-SW (09888.HK)$The increase was nearly 7%, Q3 net profit increased by more than 23%, and the number of users of large model products increased significantly.
$COUNTRY GARDEN (02007.HK)$The increase is over 23%. Some media say Country Garden has been selected into the white list of 50 housing enterprises currently being drafted by China's financial supervisory authorities.
$CIFI HOLD GP (00884.HK)$The increase was more than 48%, real estate credit risk was mitigated, and the guarantee of payment of receivables from property related parties increased.
Today's Top 20 Hong Kong Stock Turnovers
Hong Kong Stock Connect Capital
On the Hong Kong Stock Connect side, there was a net outflow of HK$5.751 billion from Hong Kong Stock Connect (southbound) today.
Agency Perspectives
J.P. Morgan: Maintaining Baidu Group's “increased holdings” rating, and the target price was raised to HK$210
According to a report published by J.P. Morgan,$BIDU-SW (09888.HK)$There is potential for growth in the short term because the commercialization process of generative artificial intelligence is faster than expected. It is estimated that generative artificial intelligence can bring in more than 9 billion yuan in revenue next year. The current price reflects next year's predicted price-earnings ratio of 11 times. The bank maintained Baidu's “increased holdings” rating and raised its target price from HK$180 to HK$210, reflecting next year's forecast price-earnings ratio of 15 times.
Bank International: Reiterating Kuaishou's “buy” rating, target price of HK$90
According to a research report published by Bank International,$KUAISHOU-W (01024.HK)$The long-term outlook remains unchanged, maintaining the target price of HK$90. According to the report, Kuaishou's profit for the third quarter exceeded expectations, and revenue increased by 21% year-on-year. The bank maintained e-commerce and advertising revenue expectations. It expects e-commerce product turnover (GMV) in the fourth quarter to increase by 30% per year. The internal circulation advertising growth rate is in line with the GMV growth rate, driving online marketing to increase 20% in the fourth quarter.
Goldman Sachs: First choice for Orient's “neutral” rating, with a target price of HK$28
Goldman Sachs published a report stating,$EAST BUY (01797.HK)$Just six months after transforming into live e-commerce, it became the channel ranked number one in terms of total product transactions (GMV) on Douyin. The bank first selected a “neutral” rating from Oriental, with a target price of HK$28. The company's revenue for the 2023-2026 fiscal year is expected to grow at an average compound annual rate of 18%. It is expected that its adjusted net profit for the 2024-2026 fiscal year will be roughly stable at 21% to 22%.
Edit/Chris
