Futu News reported on March 28 that the three major indices of Hong Kong stocks rose one after another. By the close, the Hang Seng Index had risen 0.91%, the Science Index had risen 2.48%, and the National Index had risen 1.44%.
By the close, Hong Kong stocks had risen by 1106, fell by 829, and closed by 1009.
The specific industry performance is as follows:
On the sector side, TechNet stocks improved. Bilibili rose more than 8%, Meituan rose more than 6%, Jingdong rose more than 5%, Baidu rose more than 3%, Kuaishou and Ali rose more than 2%, and Tencent rose slightly.
Auto stocks rose many times. Zero Run rose nearly 14%, Ideal rose more than 3%, NIO rose more than 2%, Geely rose more than 1%, Great Wall rose slightly, and BYD fell slightly.
Gold stocks rose across the board. Lingbao Gold rose nearly 24%, Zhaojin Mining rose more than 8%, Shandong Gold rose more than 4%, and Zijin Mining rose nearly 2%.
Apple concept stocks generally rose. Gaowei Electronics and Ruisheng Technology rose nearly 6%, Qiu Titanium Technology rose nearly 2%, and Shunyu Optics rose more than 1%.
Gas stocks had mixed ups and downs. Beijing Holdings fell more than 22%, Hong Kong China Gas fell more than 3%, Kunlun Energy fell nearly 2%, Xinao Energy rose nearly 4%, and China Resources Gas rose more than 1%.
On the other side, catering stocks and oil stocks rose sharply; pork concept stocks, heavy machinery stocks, and pharmaceutical stocks showed poor performance.
In terms of individual stocks, $HAIER SMARTHOME (06690.HK)$The increase was more than 8%. Profit attributable to shareholders in 2023 was 16.597 billion yuan, an increase of 12.81% over the previous year.
$CHINA OVERSEAS (00688.HK)$It rose more than 6%. Net profit rose 10.1% year on year last year, and the final interest rate was HK45 cents per share.
$ZHONGSHENG HLDG (00881.HK)$It rose more than 10%. The results for the second half of last year slightly beat expectations, and the comprehensive profit of used cars reached a record high.
$LEAPMOTOR (09863.HK)$It rose nearly 14%, and gross margin was corrected for the first time in the whole year. C10 is expected to enter overseas markets in the third quarter.
$LINGBAO GOLD (03330.HK)$It rose nearly 24%, and net profit increased 32.4% year-on-year last year.
$SSY GROUP (02005.HK)$Profit attributable to shareholders of HK$1,319 billion rose 17.44% year-on-year in '23
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$3.802 billion.
Agency Perspectives
Citibank: Maintains BYD Electronics' “Buy” Rating and Lowers Target Price to HK$47
Citi released a research report saying, maintain$BYD ELECTRONIC (00285.HK)$The “buy” rating reduces the earnings forecast per share for this year and next two years by 2% and 4% in response to a decline in sales expectations, and the target price was lowered from HK$48 to HK$47.
UBS: Giving China Life a “buy” rating, target price reduced to HK$14.5
UBS released a research report saying that$CHINA LIFE (02628.HK)$In the “buy” rating, due to the long period of decline in interest rates, China Life Insurance's long-term return on investment included value was lowered to 4%, and the risk discount rate was raised to 9% to be in line with the assumptions of other insurance companies. The target price was lowered from HK$16 to HK$14.5.
Lyon: Maintaining Mengniu Dairy's “Buy” Rating and Lowering Target Price to HK$24
Lyon released a research report saying, maintain$MENGNIU DAIRY (02319.HK)$The “buy” rating suggests that the valuation is not high. The net profit forecast for this year and next two years was lowered by 14% to 15%, and the target price was lowered from HK$28 to HK$24.
Edit/Cynthia