Futu News reported on December 18 that the three major indices of Hong Kong stocks declined one after another. The Hang Seng Index closed down 0.97%, the Science Index fell 1.32%, and the National Index fell 1.16%.
By the close, Hong Kong stocks had risen 609 shares, down 1,270 shares, and closed down 1,092 shares.
The specific industry performance is as follows:
In terms of the sector, Internet stocks generally declined. Bilibili fell by more than 3%, Meituan by more than 2%, NetEase and Baidu by nearly 2%, Tencent by about 1%, and Kuaishou and Xiaomi declined slightly.
Automobile stocks declined one after another. Xiaopeng Motor fell nearly 7%, Ideal Auto and BYD shares fell nearly 3%, Geely Auto fell nearly 2%, and Zero Sports and Great Wall Motor fell nearly 1%.
Domestic housing stocks and property management stocks were under pressure. Greentown China fell by more than 5%, Longhu Group and China Resources Land fell nearly 3%, Country Garden fell by more than 2%, and Sunac China and China's overseas development fell by more than 1%.
Pharmaceutical stocks had mixed ups and downs. Giant Biotech and Nuochengjianhua rose more than 2%, Kangfang Biotech and Pharmacogene Kant fell nearly 3%, and Kingsley Biotech and BeiGene fell more than 2%.
Lithium battery stocks fell collectively. BYD Electronics fell more than 3%, and BYD shares, Ganfeng Lithium, and Tianqi Lithium fell nearly 3%.
Shipping stocks bucked the market. Haifeng International rose nearly 15%, COSCO Marine Control rose more than 7%, COSCO Marine Energy rose nearly 7%, and Oriental Overseas International rose more than 4%.
Other than that, pharmaceutical stocks, catering stocks, aviation stocks, and heavy machinery stocks have mostly declined.
In terms of individual stocks,$XPENG-W (09868.HK)$It fell nearly 7%, and Alibaba, the majority shareholder, reduced its holdings by nearly 400 million US dollars.
$SENSETIME-W (00020.HK)$It fell by more than 11%. Founder Tang Xiaoou passed away, and his 20.63% share trend attracted attention.
$TECHTRONIC IND (00669.HK)$With an increase of nearly 4%, Citi said it is expected to benefit from the Fed's interest rate cut and raise the target price by 9%.
$COSCO SHIP ENGY (01138.HK)$There was an increase of nearly 7%, global shipping blockages intensified, and the two major international shipping giants suspended Red Sea transportation.
$EAST BUY (01797.HK)$With an increase of nearly 22%, Dong Yuhui was promoted to senior partner. Yesterday, GMV estimated more than 100 million yuan.
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$11.75 billion today.
Agency Perspectives
Shen Wan Hongyuan: Maintaining Dongfang's “buy” rating, with a target price of HK$55.47
Shen Wan Hongyuan released a research report saying, “Maintain$EAST BUY (01797.HK)$“Buy” rating, target price HK$55.47. The bank expects that the share of the company's self-operated product sales will continue to increase in the next three years, and the shift from 3p sales to 1p sales will drive revenue to achieve a three-year compound growth rate of 30.3%. Furthermore, the personnel dispute has come to an end. Recently, the topic of Oriental selection has been trending. It is believed that it will bring a new wave of traffic to the company and support the continued development of the company's live streaming business.
Goldman Sachs: Giving Xiaopeng Motor a “buy” rating, with a target price of HK$78
Goldman Sachs released a research report saying,$XPENG-W (09868.HK)$“Buy” rating, target price HK$78. Xiaopeng's management was quoted as saying that in the current competitive environment, it is essential to expand sales, and said that efforts will continue to be made to reduce costs and develop advanced driver assistance systems (ADAS). In terms of profitability, management has a positive view of this quarter's gross margin, and it is expected that automobile gross margin will be positive in the fourth quarter.
Citi: Maintaining the “buy” rating of the I&T industry, increasing the target price by 9% to HK$118
Citi released a research report saying, maintain$TECHTRONIC IND (00669.HK)$The “buy” rating raised the valuation of the company's price-earnings ratio in 2024 from 21 times to 23 times, and raised the target price by 9% from HK$108 to HK$118. The bank believes that the US Federal Reserve Chairman recently revealed for the first time that he will cut interest rates at least three times next year, and believes that the innovation and technology industry will benefit from this.
Edit/Chris