Futu News reported on February 20 that the three major indices of Hong Kong stocks fluctuated and closed higher. By the close, the Hang Seng Index had risen 0.57%, while the Technology Index and China Index had risen 0.35% and 0.63% respectively.
By the close, Hong Kong stocks were up 1,042, down 867, and closed at 1,074.
The specific industry performance is as follows:
On the sector side, TechNet stocks had mixed ups and downs. Kuaishou and Bilibili rose more than 1%, Meituan, Ali, NetEase, and Baidu rose slightly, and JD and Tencent fell slightly.
The decline in auto stocks narrowed. Xiaopeng Motor fell nearly 4%, Great Wall Motor fell nearly 3%, BYD shares fell more than 2%, and Ideal Auto closed up nearly 1%.
Pharmaceutical stocks were strong, with Pharmacovigilance up more than 17%, Pharmaceutical Kangde up nearly 8%, Pharmaceutical Biotech up nearly 4%, and Kangfang Biotech up nearly 3%.
Power stocks strengthened. China Electric Power rose nearly 5%, Huadian Power rose more than 3%, China Resources Electric Power rose more than 4%, and Huaneng Power rose more than 2%.
Petroleum stocks continued to rise, with CNOOC up more than 3%, Sinopec up nearly 2%, and CNPC up more than 1%.
In terms of individual stocks,$WUXI APPTEC (02359.HK)$With an increase of nearly 8%, institutions are optimistic about the company's advantages in the industry and competitive landscape, and the actual impact of the US bill is expected to be limited.
$WUXI XDC (02268.HK)$With an increase of more than 17%, CICC said it met the conditions for inclusion in the Shanghai-Hong Kong Stock Connect, and the company expects to double its sales revenue last year.
$MICROPORT (00853.HK)$With an increase of more than 15%, institutions are optimistic about the future prospects of overseas expansion of domestic medical devices.
$CHINA POWER (02380.HK)$With an increase of nearly 5%, thermal power operations have improved in 24, and the level of dividends may increase.
$CNOOC (00883.HK)$The increase of more than 3% continued to reach a record high, and institutions expect the company's dividend rate to be around 10% in 2024.
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$3.472 billion today.
Agency Perspectives
Macquarie: Macau's gaming revenue in February is expected to return to 73% to 75% of 2019, with Galaxy Entertainment and Sands China preferred
According to a research report released by Macquarie, the average number of mainland visitors this year returned to 101% of pre-epidemic levels. The total number of daily inbound visitors reached about 170,000, 41% higher than the 120,000 expected by the Macau Tourism Administration, and 47% higher than last year's National Day Golden Week. The bank's first choice in gaming stocks is still$GALAXY ENT (00027.HK)$and$SANDS CHINA LTD (01928.HK)$They believe that they have strong real estate reserves and abundant inventory of hotel rooms, and are also rated as “outperforming the market.”
Anxin International: The Spring Festival exceeded expectations or boosted travel expectations throughout the year. It is recommended to focus on Tongcheng travel, etc.
According to a research report released by Anxin International, domestic tourism performance during the 2024 Spring Festival holiday exceeded expectations. Under comparable standards, tourism revenue/number increased 47%/34% year-on-year, up 7.7%/19% from the same period in 2019, which was better than the bank's previous expectations. It is recommended to focus on OTA targets with steady performance growth and high predictability$TRIP.COM-S (09961.HK)$and$TONGCHENGTRAVEL (00780.HK)$, and those that have the potential to repair performance$CTG DUTY-FREE (01880.HK)$.
Bank of America Securities: Reiterates Hong Kong Stock Exchange's “Buy” Rating, Lowers Target Price to HK$302
Bank of America Securities released a research report, stating that$HKEX (00388.HK)$The “buy” rating lowered the profit forecast for this year and next two years by 3% to 8%, and the target price was lowered by 11% to HK$302 from HK$338 due to the expected decline in average daily turnover and the forecast of investment income.
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