Futu News reported on January 10 that the three major indices of Hong Kong stocks continued to decline. The Hang Seng Index fell 0.57%, the Science Index fell 0.76%, and the National Index fell 0.52%.
By the close, Hong Kong stocks had risen 753, fell 1,146, and closed at 1,081.
The specific industry performance is shown below:
On the sector side, TechNet shares had mixed ups and downs. Xiaomi fell nearly 2%, Tencent fell more than 1%, Alibaba fell nearly 2%, Kuaishou and Meituan rose nearly 2%, and Baidu and Jingdong rose slightly.
Domestic housing stocks and property management stocks generally fell. Yuexiu Real Estate and Longhu Group fell nearly 2%, Vanke Enterprise fell more than 1%, and Sunac China and Greentown China fell nearly 1%.
Auto stocks declined one after another. NIO fell nearly 5%, Ideal Auto fell more than 4%, BYD shares and Xiaopeng Motors fell more than 1%, and Great Wall Motors and Geely Motors fell nearly 1%.
Pharmaceutical stocks were active throughout the day. BeiGene Shenzhou rose more than 7%, Yao Ming Biotech rose more than 6%, Kang Fang Biotech rose nearly 3%, and Pharmaceutical Kangde, Genting Xinyao, and Connoya rose more than 2%.
The performance of shipping stocks was weak, with Haifeng International falling nearly 6%, COSCO Maritime Holdings falling more than 5%, and Orient Overseas International falling more than 1%.
Catering stocks were popular. Haidilao rose more than 8%, Xiabuxiabu rose more than 3%, and Jiumaojiu rose more than 1%.
On the other side, conductor stocks, wind power stocks, aviation stocks, gambling stocks, insurance stocks, gold stocks, mobile game stocks, etc. performed poorly.
In terms of individual stocks,$WUXI BIO (02269.HK)$With an increase of more than 6%, the company will expand production capacity to 36,000 liters at its Worcester, Massachusetts site in the United States.
$HAIDILAO (06862.HK)$With an increase of more than 8%, leading restaurants are expected to drive performance growth through store expansion.
$EAST BUY (01797.HK)$It rose more than 1%, and Dong Yuhui's first broadcast of the new GMV broke 100 million.
$INNOVENT BIO (01801.HK)$With an increase of more than 6%, the first phase III clinical study of the weight loss drug Maxidopeptide reached the main end point and all key secondary endpoints.
$COSCO SHIP HOLD (01919.HK)$It fell more than 5%, and net profit for the whole year is expected to decrease by about 78.4% year on year to 23.889 billion yuan.
Today's top 10 Hong Kong stock turnover
Hong Kong Stock Connect Capital
On the Hong Kong Stock Connect side, today's net inflow of Hong Kong Stock Connect (southbound) was HK$2.57 billion.
Institutional views
Yamato: Giving Pharmaceutical Biotech a “holding” rating, it will take time to turn the inflection point
According to a report published by Yamato,$WUXI BIO (02269.HK)$Production capacity at the Worcester, Massachusetts site will be expanded to 36,000 litres to respond to the growing demand for contract manufacturing services from customers around the world. According to the bank, after Singapore's expansion plan in July 2022, this is the second time that the company has increased production capacity outside of China. It is estimated that by 2026, the total production capacity will reach 611,000 litres, compared to 262,000 litres in the first half of last year.
Goldman Sachs: Raised COSCO Offshore's target price to HK$6.7 to maintain “sell for sale” rating
Goldman Sachs published a report stating,$COSCO SHIP HOLD (01919.HK)$According to preliminary results, net profit in 2023 fell 78% year-on-year, suggesting that net profit for the fourth quarter fell 95% to 1.8 billion yuan, lower than market expectations of 4 billion yuan, but it is believed that the impact of the Red Sea will drive global shipping demand. The bank raised the company's target price by 3% from HK$6.5 to HK$6.7, maintaining the “sell and sell” rating.
Bank of America: Reiterates Haidilao's “Neutral” Rating, Target Price HK$16
According to a report published by Bank of America Securities,$HAIDILAO (06862.HK)$The short-term turnaround trend is positive, but the outlook for growth and profit margins in 2024 is uncertain, based on weak consumer sentiment and rising pricing pressure. According to the bank, there may be room for year-on-year improvement in the first quarter of this year, mainly because the base figure is low. However, if there is further improvement from year to year for the rest of the year, there are certain challenges, mainly because the base figure returns to normal levels.
Edit/Chris