Futu News reported on November 28 that the three major indices of Hong Kong stocks fluctuated and declined. The Hang Seng Index closed down 0.98%, the National Index fell 1.13%, and the Hang Seng Technology Index closed down 0.77%.
By the close, Hong Kong stocks had risen 742 shares, down 1,070 shares, and closed at 1,157 shares.
The specific industry performance is as follows:
In terms of sectors, most of the Internet stocks declined. Meituan fell more than 5%, Kuaishou fell nearly 4%, JD and Ali fell more than 2%, Tencent fell nearly 1%, and Xiaomi bucked the market and rose more than 2%.
Apple concept stocks were strong throughout the day. Ruisheng Technology and Qiutai Technology rose more than 7%, Shunyu Optics Technology rose nearly 5%, and Gaowei Electronics rose nearly 4%.
The trend of automobile stocks was divided. BAIC Motor rose nearly 4%, Zero Sports Auto and Guangzhou Automobile Group rose about 3%, and BYD shares, Xiaopeng, and NIO fell by more than 1%.
Some biomedical stocks bucked the market and rose by more than 11%, Saisheng Pharmaceutical by more than 7%, Hanson Pharmaceutical by more than 6%, and Kangfang Biotech by nearly 5%.
Other aspects, domestic housing stocks, property management stocks, education stocks, and software stocks declined markedly; gaming stocks, aviation stocks, gas stocks, domestic insurance stocks, lithium battery stocks, etc. fell sharply; semiconductor stocks and military stocks were active.
In terms of individual stocks,$MEITUAN-W (03690.HK)$Falling more than 5%, results will be announced today. Bloomberg analysis predicts that Meituan's third-quarter revenue will slow to about 21%.
$KUAISHOU-W (01024.HK)$With a drop of nearly 4%, Kuaishou said today that it has removed more than 10 illegal miniseries and reported them to the “black list” of online micro-skits.
$LEAPMOTOR (09863.HK)$With an increase of more than 3%, the first global model, the C10, was unveiled and is expected to be delivered in the first quarter of next year.
$AAC TECH (02018.HK)$It rose more than 7%, Apple Vision Pro's mainland supply chain ratio reached 60%, and Goldman Sachs raised its target price for the stock to HK$25.6.
$CHINA EDU GROUP (00839.HK)$The sharp drop of more than 18% hit a new low during the year. Net profit for the whole year fell 25.2% year on year, cutting dividends.
$SENSETIME-W (00020.HK)$Falling nearly 5%, the company responded to going short, saying the report had no basis and reserved all rights to take appropriate action.
$MGM CHINA (02282.HK)$A drop of nearly 5% led the decline in gaming stocks. Macau's average daily gaming revenue slowed during the tournament period, and institutional index valuations continued to fall out of touch with profits.
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$3,053 billion today.
Agency Perspectives
UBS: Maintains China Unicom's “buy” rating, with a target price of HK$7.3
According to a report published by UBS,$CHINA UNICOM (00762.HK)$Recently, it was announced that Chen Zhongyue, the director and president, became the chairman of the parent company China Unicom Group. Liu Liehong, the former chairman and CEO, resigned in July this year to become the director of the National Bureau of Data. At the time of the company's interim results, management guided the annual dividend increase by no less than last year, and the new chairman was promoted from within, so I believe the previous guidelines will remain the same. Assuming a dividend payout ratio of 54%, the current price of Unicom H shares is equivalent to the full-year forecast dividend rate of over 7%. Maintaining a “buy” rating, the target price is HK$7.3.
Goldman Sachs: Maintaining Ruisheng Technology's “buy” rating, and the target price was raised to HK$25.6
Goldman Sachs maintains the right$AAC TECH (02018.HK)$The constructive view is mainly due to the fact that its upgraded portfolio of mobile phone lenses supports a recovery in gross margin, and is optimistic about the company's future profitability and strong cash flow. In terms of mobile phone lenses, the bank believes that in addition to the smartphone market stabilizing in the second half of this year due to replenishment demand, camera specifications have also rebounded, supporting Ruisheng Technology's product portfolio upgrade, which brings higher gross margin to high-end lenses above 6P. The bank expects the company's mobile phone lens shipments to increase by 15% and 34% year-on-year respectively in the second half of this year and the first half of next year. The bank raised Ruisheng's target price from HK$22.7 to HK$25.6, maintaining its “buy” rating.
J.P. Morgan: Autonomous driving will reach a turning point next year, and car companies are optimistic about BYD and Zero Run
According to a report published by J.P. Morgan, autonomous driving in the mainland will reach a turning point next year and a half. Marketing campaigns targeting young Chinese car buyers will increasingly show that 3/4 level semi-autonomous driving functions are not only the best to have, but must have, which will encourage them to demand such features when purchasing new cars, which means that it may be difficult to sell products without such features in the future. According to the bank, it is optimistic among automakers$BYD COMPANY (01211.HK)$with$LEAPMOTOR (09863.HK)$, followed by$GWMOTOR (02333.HK)$。 Also, the bank is optimistic$XPENG-W (09868.HK)$Technological leadership in the field of autonomous driving will seek a more attractive market entry position.
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