Futu News reported on December 1 that the three major indices of Hong Kong stocks collectively closed down. The Hang Seng Index closed down 1.25%, the National Index fell 1.64%, and the Hang Seng Technology Index closed down 1.76%.
By the close, Hong Kong stocks had risen 682 shares, down 1,172 shares, and closed 1,116 shares.
The specific industry performance is as follows:
Sector-wise, Internet stocks fell across the board. Meituan, Xiaomi, and Station B fell nearly 3%, Tencent fell by more than 2%, and Ali and Baidu fell more than 1%.
Domestic housing stocks fluctuated and declined. China Evergrande and Xuhui Holdings fell nearly 5%, China's Jinmao fell by more than 4%, and China Resources Land and Agile fell more than 2%.
The trend of education stocks was divided. China's science training fell by more than 17%, Yuhua Education fell by more than 14%, Thinking Le Education rose nearly 8%, Chalk rose more than 5%, and New Oriental rose more than 2%.
Food and beverage stocks generally declined. Jiumaojiu fell by more than 8%, Xiabu and Haidilao fell by more than 4%, and Tehai International fell by more than 2%.
Other aspects, the automobile industry chain generally declined. MeiDong Auto plummeted by more than 17%, semiconductor stocks, power stocks, and electronic components stocks generally fell; gaming stocks rebounded against the market, Wynn Macau rose nearly 2%, and some shipping stocks and domestic insurance stocks were active.
In terms of individual stocks,$XPENG-W (09868.HK)$It fell by more than 5%. In November, automobile sales fell month-on-month, and the car dealers' inventory warning index rose month-on-month.
$SMIC (00981.HK)$Falling more than 4%, a wave of price cuts swept through foundries, and semiconductor stocks were generally in a slump.
$EVERGRANDE (03333.HK)$It fell nearly 5%, and the short selling agency GMT Research indicated that it had continuously exaggerated revenue and profits for many years.
$SCHOLAR EDU (01769.HK)$It rose nearly 8%. The cumulative number of shares repurchased in the past three months was 330,000 shares. The agency claims that higher education companies have high dividend allocation value.
$WHARF HOLDINGS (00004.HK)$It rose more than 4% and was officially included in the MSCI Hong Kong Index today.
$ALI PICTURES (01060.HK)$It rose nearly 2% to complete the acquisition of all shares in Damai.com for US$167 million.
Today's top 10 Hong Kong stock turnover
Hong Kong Stock Connect Capital
On the Hong Kong Stock Connect side, Hong Kong Stock Connect (southbound) had a net inflow of HK$5.289 billion today.
Agency Perspectives
Jefferies: Maintaining the Bilibili Bili-W “buy” rating target price of HK$172
Jefferies released a research report saying, maintain$BILIBILI-W (09626.HK)$“Buy” rating. Third-quarter revenue is close to expectations. The company expects total net turnover for the year to be at the low end of the 22.5 billion to 23.5 billion yuan range, in line with expectations. The balance of payments target schedule has not changed, and the target price is HK$172. The bank expects that Bilibili's revenue for the fourth quarter of this year will increase 3% year on year to 6.3 billion yuan. According to market segments, online game revenue is expected to increase by about 10% to 1.1 billion yuan on a quarterly basis. VAS is expected to increase 18% year on year, online advertising revenue is expected to rise 25%, and gross margin is expected to improve.
Bank of China International: First “buy” rating for many education stocks, New Oriental preferred
Bank of China International released a research report saying that it covered for the first time$NEW ORIENTAL-S (09901.HK)$>$TAL Education (TAL.US)$>$Youdao (DAO.US)$>$Gaotu Techedu (GOTU.US)$, giving a “buy” rating, the target price is HK$70, $14.4, $6.3, and $3.1 in that order. New Oriental is still the bank's first choice, mainly because its business is more stable, its business is scattered and defensive, and it has continued to release profits. At the same time, although in the short term, offline business will recover faster than online, in the long run, according to the needs of different learning scenarios, the combination of online/offline will be increasingly accepted. Online education still has development opportunities with the support of smart hardware and AI technology.
UBS: Giving the Hong Kong Stock Exchange a “neutral” rating, with a target price of HK$296
UBS released a research report saying that$HKEX (00388.HK)$The “neutral” rating indicates that the average daily turnover in November is expected to rise 21% month-on-month to $9.5 billion, which also indicates that its commodity business has made a resilient contribution, with a target price of HK$296. According to the report, the company's London Metal Exchange (LME) won the lawsuit to cancel the nickel deal, believing that the news may be beneficial to investor sentiment because the relevant uncertainties have generally been removed. Despite this, the impact on earnings market expectations was limited, as analysts had not previously considered any provisions to deal with the uncertain outcome of the lawsuit.
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