Futu News reported on March 11 that the three major indices of Hong Kong stocks were strong throughout the day. By the close, the Hang Seng Index had risen 1.43%, the Science Index had risen 2.86%, and the National Index had risen 1.63%.
By the close, Hong Kong stocks had risen 1,185, down 809, and closed at 994.
The specific industry performance is as follows:
On the sector side, Technet stocks generally rose, with Bilibili up more than 11%, JD up more than 6%, Meituan by more than 5%, Kuaishou by nearly 4%, Tencent by more than 3%, and Alibaba by more than 2%.
Most auto stocks strengthened. Xiaopeng rose nearly 6%, BYD rose 5%, NIO rose more than 4%, Great Wall rose more than 3%, and Geely rose nearly 2%.
Domestic housing stocks and property management stocks strengthened in the afternoon. Country Garden and Vanke companies rose more than 3%, Xincheng Development rose nearly 3%, Sunac China rose more than 2%, and Sunac Services rose more than 1%.
Photovoltaic stocks rose again. Xinyi Solar Energy rose more than 11%, Follett Glass rose more than 10%, GCL Technology rose more than 8%, and Xinyi Glass and Xinte Energy rose nearly 5%.
Sporting goods stocks improved. Li Ning rose more than 6%, Taobo and Tep International rose nearly 2%, and Anta Sports rose more than 1%.
Semiconductor stocks continued to rise, with Shanghai Fudan up more than 4%, SMIC up more than 2%, and Huahong Semiconductor up more than 1%.
On the other side, lithium battery stocks surged throughout the day; software stocks surged higher in the afternoon; mobile game stocks, biotech stocks, aviation stocks, and catering stocks all rose; coal stocks bucked the trend and declined; heavy machinery stocks showed poor performance; and oil stocks mostly pulled back.
In terms of individual stocks,$BILIBILI-W (09626.HK)$It rose more than 11%, gross margin increased for 6 consecutive quarters, and operating cash flow was positive throughout the year.
$JD-SW (09618.HK)$The increase was more than 6%. After the performance exceeded expectations, a $3 billion repurchase was announced, and the target price was raised by Macquarie.
$XPENG-W (09868.HK)$With an increase of nearly 6%, Volkswagen and Xiaopeng signed another important agreement. eVTOL may begin a demonstration implementation period this year.
$XINYI SOLAR (00968.HK)$It has risen by more than 11%, and in the past eight trading days, it has already increased by more than 70%.
$GDS-SW (09698.HK)$It surged more than 18%. According to news, Gao Wei, Boyu and others plan to invest in the GDS Asia data center.
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$3.02 billion.
Agency Perspectives
BOC International: Mainland passenger car sales were quiet in February, optimistic about BYD shares and Ideal Automobile-W
BOC International released a research report saying that in the mainland automobile industry, it is optimistic about industry leaders with rich product layouts and plenty of room for price reduction$BYD COMPANY (01211.HK)$The rating is “buy,” and it is expected that price cuts will effectively stimulate an increase in sales; in addition, the growth of export business will ease the pressure on profits caused by price cuts due to high overseas gross margins. Among the new forces, I am still optimistic$LI AUTO-W (02015.HK)$The rating is “buy” because of its increased profitability and the intense pace of new car launches in 2024;$XPENG-W (09868.HK)$Although the sales volume of the X9 is good, the sales growth of other models is uncertain, and “sales” are maintained.
Goldman Sachs: Maintaining Sunyu Optics' “Neutral” Rating, Target Price HK$69
Goldman Sachs released a research report saying that although$SUNNY OPTICAL (02382.HK)$A low base recovery will be achieved in 2024, but there are still concerns about fierce competition for lenses and camera modules, which will limit the company's long-term growth and gross margin recovery. Therefore, it maintains a “neutral” rating and is cautious about smartphone cameras. It believes that there is limited room for future stock price decline, and the target price is HK$69.
Tama: Maintaining Xinyi Solar's “Overweight” Rating, Target Price Raised to HK$6.4
Morgan Stanley released a research report saying that the update is$XINYI SOLAR (00968.HK)$A series of forecasting models to reflect the Group's actual profit performance last year. Among them, production forecasts for the current year and next two years are adjusted based on the latest production line starts according to management guidelines. Damo also raised the target price of Xinyi Solar Energy's shares, from HK$5.8 to HK$6.4. Earnings forecasts per share for the current year and next two years were raised by 13% and 2%, respectively, and the rating maintained an “increase in holdings”.
editor/tolk