Futu News reported on March 22 that the three major indices of Hong Kong stocks fell collectively. At the close, the Hang Seng Index fell 2.16%, the Science Index fell 3.55%, and the National Index fell 2.50%.
![](https://postimg.futunn.com/news-editor-imgs/20240322/public/17110953137055344865897.png)
By the close, Hong Kong stocks had risen by 519, fell by 1,442, and closed by 1,028.
![](https://postimg.futunn.com/news-editor-imgs/20240322/public/17110953571009136104084.png)
The specific industry performance is as follows:
![](https://postimg.futunn.com/news-editor-imgs/20240322/public/17110954099984788070530.jpeg)
On the sector side, many shares of TechNet fell. Bilibili fell more than 9%, Jingdong fell more than 5%, Meituan and Kuaishou fell more than 4%, Baidu fell nearly 3%, Ali fell more than 2%, Tencent fell nearly 1%, and Xiaomi rose slightly.
Auto stocks generally fell, with Ideal Auto falling by nearly 11%, Xiaopeng Auto by nearly 9%, Zero Sports by nearly 5%, NIO by more than 3%, and BYD by more than 1%.
Domestic insurance stocks weakened across the board. China Ping An fell nearly 6%, China Taibao fell more than 4%, China Life Insurance and Xinhua Insurance fell nearly 3%, and AIA Insurance fell nearly 2%.
Gold stocks pulled back. Lingbao Gold fell nearly 6%, Zhaojin Mining fell nearly 4%, Zijin Mining fell nearly 3%, Shandong Gold fell more than 3%, and China Gold International fell more than 2%.
Semiconductor stocks declined, with SMIC falling nearly 6%, and Shanghai Fudan and Huahong Semiconductors falling more than 4%.
On the other side, coal stocks, restaurant stocks, mobile game stocks, electricity stocks, petroleum stocks, pharmaceutical stocks, etc. have declined one after another.
In terms of individual stocks,$LI AUTO-W (02015.HK)$It fell nearly 11%, and the company drastically lowered its Q1 delivery expectations.
$CK ASSET (01113.HK)$It fell nearly 11%. Net profit for the year fell 20% year over year, and the final interest rate fell to HK$1.62.
$OOIL (00316.HK)$It fell nearly 17%. Profit attributable to shareholders in 2023 was US$1,368 million, a year-on-year decrease of 86.27%.
$INNOVENT BIO (01801.HK)$With a drop of nearly 6%, losses for the whole year narrowed by 52.8%. Goldman Sachs expects sales growth to be more moderate this year.
$SHENZHOU INTL (02313.HK)$With a drop of more than 7%, the agency expects revenue growth of 6% and profit growth of 10% in the second half of last year.
$AAC TECH (02018.HK)$It rose more than 10%, with revenue of 20.419 billion yuan in 2023 and free cash flow of 3.81 billion yuan, the highest level since listing.
Today's top 10 Hong Kong stock turnover
![](https://postimg.futunn.com/news-editor-imgs/20240322/public/17110950801959571023113.jpeg)
Hong Kong Stock Connect Capital
On the Hong Kong Stock Connect side, today's net inflow of HK$14.539 billion (southbound) was HK$14.539 billion.
![](https://postimg.futunn.com/news-editor-imgs/20240322/public/1711095433453352071040.png)
Agency Perspectives
CICC: China Coal Energy was rated “outperforming the industry”, and the target price was raised to HK$9
CICC released a research report stating that$CHINA COAL (01898.HK)$“Outperform the industry” rating. As themed transactions with the sector's defensive attributes increase, the valuation is expected to be repaired, and the target price will increase by 32% to HK$9. The company's 2023 performance was in line with expectations, and H share shareholders should account for profit of RMB 20.084 billion.
Goldman Sachs: Maintaining Ruisheng Technology's “Buy” Rating, Target Price Raised to HK$33.8
Goldman Sachs released a research report saying that it will maintain$AAC TECH (02018.HK)$With a “buy” rating, the management had a positive view of the mobile camera, profit margin and cash flow. The target price was raised from HK$30 to HK$33.8.
Citigroup: Maintaining CNOOC's “Buy” Rating, Target Price Raised to HK$23
Citi released a research report saying, maintain$CNOOC (00883.HK)$The “Buy” rating raised the profit forecast for the 2024 and FY25 fiscal year by about 5%, and raised the target price from HK$15.8 to HK$23 after taking into account its latest production guidelines.
Edit/Cynthia