Futu News reported on April 9 that the three major indices of Hong Kong stocks rose collectively. At the close, the Hang Seng Index rose 0.57%, the Science Index rose 0.98%, and the National Index rose 0.45%.
By the close, Hong Kong stocks had risen 1,142, down 783, and closed at 1,066.
The specific industry performance is as follows:
On the sector side, the trend of TechNet shares was mixed. NetEase rose more than 4%, Bilibili and Xiaomi rose more than 3%, Ali rose slightly, Baidu fell more than 3%, Jingdong fell nearly 1%, and Tencent and Kuaishou fell slightly.
Most biotech stocks rose. Cansino Biotech rose nearly 17%, Tiger Pharmaceuticals rose more than 6%, Kingsley Biotech rose nearly 5%, Kangfang Biotech rose more than 4%, Pharmaceutical Kangde rose more than 3%, and Pharmaceutical Biotech rose more than 2%.
A number of semiconductor stocks rose; Huahong Semiconductor rose more than 5%, and SMIC and Shanghai Fudan rose more than 3%.
Domestic housing stocks generally rose; New World Development rose more than 3%, Sunac China rose 3%, China's overseas development rose more than 1%, and Vanke Enterprise and China Resources Land rose slightly.
Auto stocks rose one after another. Great Wall rose nearly 9%, Xiaopeng rose more than 6%, GAC Group rose more than 3%, BYD rose more than 2%, Geely rose nearly 2%, and Ideal rose nearly 1%.
On the other side, pork concept stocks, photovoltaic stocks, rare earth concept stocks, paper stocks, pharmaceutical stocks, etc. rose sharply, while most gold stocks, copper stocks, and petroleum stocks pulled back.
In terms of individual stocks,$NTES-S (09999.HK)$It rose more than 4%, and its game received approval. Reports suggest that the national service Blizzard may return.
$CANSINOBIO (06185.HK)$With an increase of nearly 17%, the negative effects of the COVID-19 vaccine have been reflected, and the MCV series is expected to accelerate release.
$MEITU (01357.HK)$With an increase of nearly 6%, AI driven rapid growth in performance, and payment rates continued to accelerate.
$ZHAOJIN MINING (01818.HK)$With an increase of more than 5%, Citigroup indicates that the company will benefit from an increase in gold prices and increase earnings estimates and target prices.
$ASMPT (00522.HK)$With an increase of nearly 6%, the pace of expansion of advanced manufacturing processes in domestic fabs is expected to accelerate.
Today's top 10 Hong Kong stock turnover
Hong Kong Stock Connect Capital
In terms of equity, the net inflow of HKEx (southbound) today was HK$2,734 billion.
Agency Perspectives
UBS: Exempt China from “Buy” rating, target price HK$102.4
UBS released a research report saying that$CTG DUTY-FREE (01880.HK)$“Buy” rating, target price HK$102.4. The company's revenue for the first quarter of 2024 fell 9% year on year, and net profit was basically the same year on year, at 2.3 billion yuan, better than market expectations. Profit before tax for the first quarter of China's exemption fell 8% year on year, which is basically in line with market expectations; however, net profit remained flat year on year. This may be due to a decrease in the effective tax rate during the period. The bank expects that the market will respond positively to the improvement in China's free core gross margin.
Citi: Maintains Minimally Invasive Robot-B “Buy” Rating, Lowers Target Price to HK$35
Citi released a research report saying, maintain$MEDBOT-B (02252.HK)$The “buy” rating is based on the company's leading position in local surgical robots. However, the revenue forecast for the stock was lowered by 78% and 67% for this year and next two years, reflecting the impact of Tumai's late approval to symbolize anti-corruption effects in the Mainland, and the postponement of the balance of payments target from 2025 to 2026. The target price was lowered from HK$45 to HK$35, reflecting slow sales growth.
Damo: Give Mengniu Dairy a “outperform the market” rating, and the target price was lowered to HK$26
Dama released a research report saying that$MENGNIU DAIRY (02319.HK)$With the “outperforming market” rating, the target price was lowered by 13.3% from HK$30 to HK$26. It is believed that the stock's valuation is still attractive in terms of growth prospects compared to the main raw material industry.
Edit/Cynthia