Futu News reported on April 11 that the three major indices of Hong Kong stocks were down 0.26%, the Hang Seng Index fell 0.26%, the Science Index fell 0.38%, and the National Index fell 0.21%.
By the close, Hong Kong stocks were up 800, down 1,055, and closed at 1,137.
The specific industry performance is as follows:
On the sector side, the trend of TechNet shares was mixed. NetEase fell more than 3%, Baidu fell more than 1%, Kuaishou fell nearly 1%, JD and Bilibili fell slightly, and Ali, Xiaomi, Tencent, and Meituan rose slightly.
Biotech stocks declined in many shares. BeiGene fell nearly 5%, Pharmaceutical Kangde fell more than 4%, Kingsley Biotech fell nearly 3%, and Pharmaceutical Biotech fell nearly 2%.
Domestic housing stocks and property management stocks fell by more than 4%. Sunac China fell more than 4%, Country Garden Services fell more than 2%, Vanke Enterprise fell nearly 2%, and Sun Hung Kai Properties and China's overseas development fell more than 1%.
Auto stocks had mixed ups and downs. Ideal, Guangzhou Automobile, and NIO fell more than 2%, Geely fell slightly, and BYD, Xiaopeng, and Great Wall rose slightly.
Coal stocks rose one after another. China Coal Energy rose nearly 3%, Yankuang Energy rose more than 2%, China Shenhua rose nearly 1%, and Mongolian coking coal rose slightly.
On the other side, heavy machinery stocks, building materials and cement stocks, electricity stocks, gas stocks, and petroleum stocks have all gone up, while semiconductor stocks, photovoltaic stocks, and catering stocks have generally performed poorly.
In terms of individual stocks,$REMEGEN (09995.HK)$The increase was nearly 6%, and the number of core products was released rapidly. The company has many catalysts this year.
$POP MART (09992.HK)$With an increase of more than 5%, Damo claims that the company has multiple positive catalysts, and there is still room for the stock price to rise.
$CGN NEW ENERGY (01811.HK)$The increase was more than 6%. The amount of power generated completed in March increased by 5.3% year on year. The agency is optimistic about the return on its projects.
$KEEP (03650.HK)$It rose nearly 46%, and the turnover exceeded 100 million yuan. Since the release of the 2023 earnings report, it has risen 38%.
$MICROPORT (00853.HK)$It fell more than 4%, and the company received US$150 million in convertible share financing. Nomura said the long-term debt problem was still difficult.
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$7.15 billion.
Agency Perspectives
Xiaomo: Give NetEase -S an “increase” rating, target price of HK$200
J.P. Morgan Chase released a research report saying that$NTES-S (09999.HK)$“Overweight” rating, target price HK$200. The bank reiterated NetEase's positive views and advised investors to increase their holdings before launching various games in the second or third quarter of 2024. The bank believes that NetEase can achieve a 10% year-on-year increase in online games in 2024.
Damo: Giving Bubble Mart an “increase” rating, target price of HK$38
Damo released a research report saying, I believe$POP MART (09992.HK)$There is a chance that the stock price will rise by more than 80% within 30 days. The target price is HK$38, and the rating is “increase in holdings”. The stock's potential positive catalysts include first-quarter sales results, and the increase in overseas sales may cause the market to adjust its full-year forecast. The bank believes that the stock still has room to rise further, supported by sufficient catalysts and a potential compound annual profit growth rate of about 30% from 2023 to 2025.
CICC: Maintaining a 361-degree “outperforming the industry” rating, and the target price increased to HK$6.03
CICC released a research report saying that it maintains$361 DEGREES (01361.HK)$The “outperforming industry” rating maintained the Group's earnings estimates of 0.52 and 0.6 yuan per share for 2024 and 25. The target price was raised 26% to HK$6.03, taking into account the increased investment sentiment in the industry. The company continued to grow rapidly in the first quarter. The offline retail sales of the main brands increased by 10% to 20% year-on-year, and offline retail sales of children's clothing increased 20% to 25%. Retail sales on e-commerce platforms increased by 20% to 25%.
Edit/Cynthia