Futu News reported on December 28 that the three major indices of Hong Kong stock increased their gains in the afternoon. The Hang Seng Index closed up 2.52%, the Science Index rose 3.41%, and the National Index rose 2.87%.
By the close, Hong Kong stocks had risen 1,571, down 486, and closed at 919.
The specific performance of the industry is shown below:
On the sector side, TechNet stocks rose sharply; JD, Meituan, and Bilibili rose more than 5%; Kuaishou rose nearly 4%; NetEase and Baidu rose more than 3%; and Alibaba and Tencent rose nearly 3%.
Domestic housing stocks and property management stocks led the market. Sunac China rose nearly 8%, Country Garden and Greentown China rose about 7%, Longhu Group rose nearly 6%, China Resources Land rose nearly 5%, and China's overseas development rose more than 4%.
Auto stocks rose one after another. Geely Auto rose nearly 7%, Ideal Auto rose more than 5%, BYD shares and Great Wall Motor rose more than 4%, and GAC Group and Brilliance China rose nearly 3%.
Pharmaceutical stocks rose collectively. Genting Xinyao rose more than 8%, Pharmaceutical Biotech rose more than 5%, Giant Biotech rose more than 4%, Pharmaceutical Kangde rose nearly 4%, and BaiGe Shenzhou rose more than 1%.
Catering stocks were active. Haidilao and Xiabuxiabu rose more than 6%, Jiumaojiu rose nearly 4%, and Baisheng China rose more than 3%.
Sporting goods stocks were popular. Li Ning rose more than 6%, Tep International rose more than 5%, and Anta Sports rose nearly 5%.
On the other hand, coal stocks, which had been rising continuously before, partially recovered. The weighted stock Yankuang Energy fell nearly 3%, China Coal Energy fell 1.4%, and the shipping stock COSCO Haineng fell 2.54%; over 30 small price stocks fell by more than 10%, and Superstar Medical Holdings continued to plummet 66.6%.
In terms of individual stocks,$BYD COMPANY (01211.HK)$With an increase of more than 4%, the company will build a vehicle factory in Hungary to accelerate the expansion of overseas markets.
$PING AN (02318.HK)$It rose nearly 6%, and interest rate cuts catalyzed insurance sales. It is expected that a good start in '24 will exceed expectations.
$CM BANK (03968.HK)$The increase was more than 4%, and interest rates on bank deposits were lowered, helping to reduce the pressure on net interest spreads.
$GEELY AUTO (00175.HK)$With an increase of nearly 7%, Extreme Krypton 007 was officially launched, and cumulative orders have exceeded 50,000 units.
$CHINA RES BEER (00291.HK)$With an increase of nearly 6%, online beer sales have regained growth, and the long-term trend of high-end production continues.
$GOME RETAIL (00493.HK)$It rose more than 11%, and a partial debt-for-equity swap agreement was reached with JD.
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 outflow of HK$1,965 billion today.
Agency Perspectives
Yamato: Giving NetEase a “buy” rating. A possible re-partnership with game developer Activision Blizzard would be beneficial
Yamato released a research report saying, according to reports$NTES-S (09999.HK)$The game developer Activision Blizzard may re-cooperate. The two sides will benefit NetEase. The return of Blizzard's games is good news for Chinese gamers. It is estimated that the cooperation will increase NetEase's profits by units. The bank rated NetEase as a “buy.”
Bank of America Securities: Maintaining NIO's “Buy” Rating, Target Price HK$85
Bank of America Securities released a research report saying,$NIO-SW (09866.HK)$NIO Day 2023 will be held to launch NIO's flagship executive sedan ET9. Delivery is expected to begin in the first quarter of 2025. The pre-sale price is 800,000 yuan. It is believed that sales will resume after the launch of the new brand. The target price is HK$85, maintaining a “buy” rating.
CITIC Securities: Maintaining China's free “buy” rating, target price of HK$115
CITIC Securities released a research report saying that it is expected that the new tourist retail landmark that is expected to open in the near future will be$CTG DUTY-FREE (01880.HK)$Medium- to long-term development lays the momentum for growth. As duty-free sales on the outlying islands were weaker than expected, the bank lowered its net profit forecast for 2023 to 2025 to RMB 65.40/80.20/RMB 9.571 billion, respectively, compared to the original forecast of RMB 72.77/96.18/11,518 billion yuan.
Edit/Chris