Futu News reported on March 21 that the three major indices of Hong Kong stocks rose collectively. By the close, the Hang Seng Index had risen 1.93%, the Science Index had risen 0.89%, and the National Index had risen 1.75%.
By the close, Hong Kong stocks had risen 1,178, down 766, and closed at 1,045.
The specific industry performance is as follows:
On the sector side, the trend of TechNet shares was mixed. Meituan rose more than 3%, JD rose more than 2%, Xiaomi and Ali rose nearly 2%, Bilibili rose more than 1%, Tencent rose nearly 1%, Kuaishou fell nearly 2%, and Baidu fell slightly.
Domestic housing stocks and property management stocks generally rose. Longhu Group rose nearly 6%, China Overseas Development rose nearly 5%, China Resources Land rose nearly 4%, Vanke Enterprise rose nearly 3%, and Sunac China rose nearly 2%.
Bank stocks strengthened collectively. Hang Seng Bank rose more than 3%, CCB, Agricultural Bank, and China Merchants Bank rose nearly 3%, Bank of China and HSBC Holdings rose more than 2%, and ICBC rose nearly 2%.
Gold stocks rose; Zhaojin Mining rose nearly 7%, Shandong Gold rose nearly 6%, China Gold International rose more than 4%, and Zijin Mining rose nearly 3%.
Gaming stocks rose one after another. MGM China rose more than 4%, and Galaxy Entertainment and Sands China Co., Ltd. rose nearly 4%. Aobo Holdings rose more than 3%, while Wynn Macau rose nearly 3%.
On the other side, gambling stocks, film and television entertainment stocks, coal stocks, sporting goods stocks, and pork concept stocks all rose; most software stocks, biotechnology stocks, and building materials and cement stocks declined.
In terms of individual stocks,$MEITUAN-W (03690.HK)$It rose more than 3%, and the results will be announced tomorrow. The agency expects its Q4 results to be in line with expectations.
$CHALCO (02600.HK)$It rose nearly 9%, and tight supply drove the price of alumina higher.
$CHINA SHENHUA (01088.HK)$With an increase of nearly 4%, supply contraction compounded by tightening import expectations, future coal prices are supported.
$GEELY AUTO (00175.HK)$With an increase of more than 5%, core profitability increased significantly, and the sales target was exceeded last year.
$PA GOODDOCTOR (01833.HK)$With an increase of nearly 7%, AI technology operations enabled doctors to improve their efficiency, and the company's gross margin of medical and health services both increased.
$POP MART (09992.HK)$It rose nearly 16%, and both revenue and net profit reached record highs. Overseas revenue surged 134.9% year on year after breaking 1 billion dollars.
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$4.772 billion.
Agency Perspectives
Citibank: Giving Tencent Holdings a “buy” rating, and the target price was raised to HK$459
According to a research report released by Citi,$TENCENT (00700.HK)$The “Buy” rating reduced the revenue forecast for 2024 and 2025 by 0.2% and 0.6%, the profit forecast increased by 2.9% and 4.3%, and the target price increased by 1% from HK$455 to HK$459.
Macquarie: Maintaining Kuaishou's “outperforming the market” rating, the target price increased to HK$64.4
Macquarie released a research report saying, maintain$KUAISHOU-W (01024.HK)$The “Outperform Market” rating raised the profit forecast for this year and next two years by 4% and 3% respectively, which is 9% higher than the market forecast. It is hoped that Kuaishou will continue to unleash its profit potential in the future, and the target price will be raised from HK$61 to HK$64.4.
Goldman Sachs: Assigned a purchase rating to CSPC, and the target price increased to HK$9.73
Goldman Sachs released a research report saying,$CSPC PHARMA (01093.HK)$The “buy” rating, taking into account the new product launch plan, raised the net profit forecast for this year and next two years by 1.1% and 7% respectively, and the target price was raised from HK$9.24 to HK$9.73. Last quarter, Shijiao's EBIT exceeded this forecast, rising 13% year over year to RMB 1.77 billion.
Edit/Cynthia