Futu News reported on December 8 that the three major indices of the Hong Kong stock market fluctuated and fell. The Hang Seng Index closed down 0.07%, the Science Index fell 0.38%, and the National Index fell 0.31%.
![](https://postimg.futunn.com/17020233695187575046595.png)
By the close, Hong Kong stocks had risen 797 shares, down 1,011 shares, and closed at 1,164 shares.
![](https://postimg.futunn.com/17020233991648596803671.png)
The specific industry performance is as follows:
![](https://postimg.futunn.com/17020233503607318576007.jpeg)
Sector-wise, Internet stocks have had mixed ups and downs. Alibaba rose more than 1%, JD Group, Bilibili, and Meituan rose nearly 1%, Baidu and NetEase rose slightly, Tencent fell close to 1%, and Xiaomi and Kuaishou fell slightly.
Auto stocks declined one after another. Xiaopeng Motor fell nearly 6%, NIO fell more than 4%, Ideal Auto fell nearly 3%, Great Wall Motor and Geely Auto fell nearly 2%, and BYD shares fell more than 1%.
Domestic housing stocks and property management stocks had the highest declines. Sunac China fell more than 19%, Ocean Group fell more than 7%, Country Garden fell more than 5%, China Resources Land fell nearly 5%, China's overseas development fell nearly 4%, Vanke Enterprise fell more than 2%, and Longhu Group fell nearly 2%.
Pharmaceutical stocks generally fell. Connaught fell by more than 4%, Pharmaceuticals Biotech, Kangfang Biotech, and BeiGene fell about 2%, and Giant Biotech and Pharmacology fell by about 1%.
Gold stocks were under pressure. Zhaojin Mining fell by more than 7%, Shandong Gold fell by nearly 4%, and Zijin Mining fell 3%.
Gaming stocks rose against the market. MGM China rose more than 3%, and Galaxy Entertainment rose more than 2%.
On the other side, institutions believe that the education industry's business environment has been improved+model transformation, education stocks have performed strongly throughout the day, and think that education is leading the way.
In terms of individual stocks,$CHINA RES BEER (00291.HK)$The increase was nearly 2%, short-term cost pressure eased, and the industry gradually switched to a highly mature market.
$EAST BUY (01797.HK)$With an increase of nearly 3%, the app officially launched cultural tourism products, and Douyin cooperation made progress.
$XPENG-W (09868.HK)$It fell nearly 6%, and the year-end price war between car companies escalated again. Agencies indicated that the price pressure on the industry will still be strong next year.
$MICROPORT (00853.HK)$It fell by more than 6%, and fell 35% this week. The company issued interest-bearing bonds in exchange for zero-interest convertible bonds.
$SUNAC (01918.HK)$With a fall of more than 19%, both supply and demand sides of the market may continue to weaken.
Today's top 10 Hong Kong stock turnover
![](https://postimg.futunn.com/17020231772653631120887.jpeg)
Hong Kong Stock Connect Capital
On the Hong Kong Stock Connect side, Hong Kong Stock Connect (southbound) had a net inflow of HK$3,369 billion today.
![](https://postimg.futunn.com/17020231981973376965192.png)
Agency Perspectives
Macquarie: Maintaining Tencent Holdings' “Outperform Market” rating, with a target price of HK$455
Macquarie released a research report saying, maintain$TENCENT (00700.HK)$“Outperform the market” rating, with a target price of HK$455. According to the report, the company's user ecosystem is attractive and cohesive, combined with stable market positioning and a favorable revenue mix, providing visibility for sustainable growth. The bank expects video account monetization to drive continued growth in the advertising business even with competitive and cyclical factors.
Anxin International: Maintaining Meituan's “buy” rating, still optimistic about its home delivery and flash sales business
Anxin International released a research report saying, maintain$MEITUAN-W (03690.HK)$According to the “buy” rating, revenue in 2024 is expected to increase 18% year on year to 324.7 billion yuan, and the 2022-25 CAGR is 19%. The bank is still optimistic about Meituan's steady barriers to the home delivery business and the long-term potential of the flash sales business. The efficiency of takeout operations continues to be optimized, and the profit margin of in-store wine travel depends on strategic investment. The new business has expanded new customers, increased frequency, and value, and losses are still narrowing year over year.
Haitong International: Maintaining NIO's “superior to the market” rating, with a target price of HK$77.54
Haitong International released a research report saying that it maintains$NIO-SW (09866.HK)$“Better than the market” rating, with a target price of HK$77.54. The company's sales growth in the third quarter drove performance, and gross profit gradually picked up. It also stated that long-term R&D investment will not be reduced and will remain at 3-3.5 billion yuan to ensure core technology investment and product advantages. The bank expects significant improvements in new vehicle delivery volume.
Edit/Chris