Futu News reported on March 26 that the three major Hong Kong stock indices rose in the afternoon. By the close, the Hang Seng Index had risen 0.88%, the Science Index had risen 1.00%, and the National Index had risen 1.23%.
By the close, Hong Kong stocks had risen by 875, fell by 1005, and closed by 1,110.
The specific industry performance is as follows:
On the sector side, many shares of TechNet rose. Tencent and Baidu rose nearly 4%, Xiaomi rose more than 3%, Jingdong rose more than 1%, Kuaishou and Meituan rose slightly, and Bilibili fell slightly.
Domestic housing stocks and property management stocks rose sharply. Longhu Group rose 3%, China Resources Land and Vanke companies rose more than 2%, Sunac China rose nearly 2%, and China's overseas development rose more than 1%.
Auto stocks were strong throughout the day, with Zero Sports up nearly 6%, Geely up more than 3%, BYD shares and Ideal Auto up more than 2%, and NIO and Xiaopeng Motors up more than 1%.
Biotech stocks have pulled back. Pharmaceutical Syndicate fell nearly 8%, Pharmaceutical Biotech fell more than 3%, and Pharmaceutical Kangde and Giant Biotech fell nearly 2%.
Gas stocks weakened collectively. Binhai Investment fell more than 12%, Kunlun Energy fell more than 4%, Beijing Holdings fell nearly 4%, Hong Kong China Gas fell nearly 2%, and Xinao Energy fell nearly 2%.
Many gold stocks fell. Lingbao Gold fell nearly 5%, Zhaojin Mining fell nearly 3%, Zijin Mining fell more than 2%, and Shandong Gold fell more than 1%.
On the other side, Tesla concept stocks and lithium battery stocks rose sharply, mobile game stocks were generally active, and bank stocks showed strong performance throughout the day.
In terms of individual stocks,$TENCENT (00700.HK)$It rose nearly 4%, with a total repurchase of HK$2 billion for two consecutive days. It was previously announced that the repurchase scale would double this year.
$LENOVO GROUP (00992.HK)$With an increase of nearly 4%, new AI PC products will be released next month, and institutions expect the Chinese PC market to grow by 3%.
$INNOVENT BIO (01801.HK)$With an increase of more than 3%, HSBC is optimistic about the company's drug commercialization progress, and is expected to reach balance of payments next year.
$ANTA SPORTS (02020.HK)$It rose more than 3%. The results announced at noon showed that in 2023 revenue was 62.36 billion yuan, and net profit increased by 34.9%
$IMOTIONAUTOTECH (01274.HK)$It has risen by nearly 7%, and its market value is approaching HK$20 billion. Recently, road tests for autonomous driving have continued to be relaxed, and the future prospects are optimistic.
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$4,526 billion today.
Agency Perspectives
CICC: Maintaining Xinao Energy's “outperforming the industry” rating, with a target price of HK$65
CICC released a research report saying that it maintains$ENN ENERGY (02688.HK)$“Outperform the industry” rating, considering that the rising growth rate of the company's momentum is expected to positively catalyze the valuation. The target price is HK$65. The company's revenue in 2023 reached 113.9 billion yuan, with net profit attributable to mother of 6.82 billion yuan, corresponding to profit of 6.03 yuan per share; core profit (company caliber) was 7.59 billion yuan, -4.7% year-on-year, in line with the forecast.
UBS: Maintaining Kunlun Energy's “Buy” rating and raising the target price to HK$9.4
UBS released a research report saying that it was lowered to$KUNLUN ENERGY (00135.HK)$The profit forecast for this year to 2026 is 4% to 6% to reflect the bank's reduction in the sales volume forecast for the exploration and mining division. The target price was raised from HK$8.9 to HK$9.4 to reflect the decline in capital expenditure expectations and maintain the “buy” rating.
Nomura: Maintaining Goldway Electronics' “Buy” Rating, Target Price Raised to HK$29.24
Nomura released a research report saying, maintain$COWELL (01415.HK)$With a “buy” rating, the target price was raised from HK$18.36 to HK$29.24. The company's net profit for the second half of last year fell 46% year on year to US$29 million, 33% lower than Nomura's forecast.
Edit/Cynthia