Futu News reported on April 15 that the three major indices of Hong Kong stocks fell collectively. At the close, the Hang Seng Index fell 0.72%, the Science Index fell 0.92%, and the National Index fell 0.39%.
By the close, Hong Kong stocks had risen by 715, fell by 1,176, and closed by 1101.
The specific industry performance is as follows:
On the sector side, many shares of TechNet fell. NetEase fell nearly 4%, Bilibili fell nearly 3%, Ali and Tencent fell nearly 2%, Baidu and Jingdong fell nearly 1%, Kuaishou and Meituan fell slightly, and Xiaomi rose slightly.
Gold stocks generally fell; Zhaojin Mining fell more than 9%, Shandong Gold fell nearly 5%, China Gold International fell more than 3%, and Zijin Mining fell slightly.
Auto stocks declined one after another. Xiaopeng Auto fell nearly 5%, Zero Run fell nearly 4%, NIO fell nearly 3%, Geely fell more than 2%, Ideal Auto fell more than 1%, and BYD fell nearly 1%.
Many coal stocks rose. China Coal Energy rose more than 3%, Yancoal Australia, Mongolian coking coal, and China Shenhua rose more than 1%, and Yankuang Energy rose slightly.
Gaming stocks fell, with Sands China Limited and MGM China falling more than 4%, Wynn Macau falling more than 3%, Galaxy Entertainment falling nearly 3%, and Aobo Holdings falling more than 1%.
On the other side, military stocks, semiconductor stocks, petroleum stocks, etc. rose sharply; copper stocks, biotechnology stocks, and domestic housing stocks generally declined.
In terms of individual stocks,$ZHAOJIN MINING (01818.HK)$A decrease of more than 9%, with a discount of about 9.7% of the placement raised a net of HK$1,725 billion, which will be used to supplement working capital and repay bank loans.
$XPENG-W (09868.HK)$It fell nearly 5%, and the old P7 model dropped by nearly 100,000 yuan. Recently, the Xiaopeng G6 continued to drop officially.
$CRRC (01766.HK)$With an increase of more than 10%, the nine rules of the new country helped manage market capitalization and increase dividends, and infrastructure support is still strong.
$YADEA (01585.HK)$With an increase of nearly 10%, the National Assembly will deploy and carry out a full chain of measures to rectify hidden safety hazards in electric bicycles.
$LAEKNA-B (02105.HK)$The increase was over 65%, and the clinical trial of LAE102, a new drug indicated for obesity was approved by the FDA.
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$7.54 billion.
Agency Perspectives
Damo: Maintaining Tencent Holdings' “Overweight” Rating, Target Price HK$400
Morgan Stanley released a research report saying that maintaining$TENCENT (00700.HK)$“Overweight” rating, target price HK$400. The bank expects revenue to increase by 5% year-on-year in the first quarter, while the market is expected to grow by 6%, mainly due to weak growth in the game business and a slowdown in the growth of fintech and corporate services, while the advertising business growth is still strong. Gross profit and net profit are expected to grow steadily, with year-on-year increases of 18% and 25%, respectively. Increased share repurchases will be sufficient to make up for the first quarter sell-off of Prosus, the majority shareholder.
CICC: Maintains Chow Tai Fook's “outperforming the industry” rating, with a target price of HK$15.11
CICC released a research report saying that it maintains$CHOW TAI FOOK (01929.HK)$“Outperform the industry” rating. Earnings per share forecasts for the 2024 and 2025 fiscal years were unchanged, and a forecast of $0.97 for the 2026 fiscal year was introduced, with a target price of HK$15.11. The management maintains the guideline of revenue growth of 10% to 20% year-on-year in FY2024 and a year-on-year increase of more than 20% in core operating profit, and plans to gradually promote brand transformation, optimize brand and store image, and continue to enhance the product portfolio in FY2025.
Citibank: It is expected that aluminum, copper and gold stocks will continue to outperform. China Hongqiao, China Aluminum, Molybdenum and Zijin are preferred
Citi published a report saying that under the current state of real estate demand in the mainland, the strong rebound in copper, aluminum, gold, and coal stocks surprised the market. Many people think that current prices have reflected positive factors, and this year's favorable factors may have come to an end. The bank said it agreed that some of the current positive macroeconomic sentiment has been reflected, but it believes that the momentum of metal resources stocks is still strong and may usher in the next wave of fundamental surprises.
It was reiterated that copper and aluminum are the best investment targets in China's resources sector this year, and gold prices may continue to rise due to factors such as geopolitical tension and inflation. Preferred$CHINAHONGQIAO (01378.HK)$,$CHALCO (02600.HK)$,$CMOC (03993.HK)$and$ZIJIN MINING (02899.HK)$. After experiencing an increase in stock prices from the beginning of the year to date, it will$CHINA SHENHUA (01088.HK)$Removed from the preferred list. The bank believes that as demand in the manufacturing industry improves, market sentiment may shift from state-owned enterprise reforms to higher metals investment. The bank is still optimistic about the strong free cash flow of coal companies and maintains a “buy” rating for Shenhua.
Edit/Cynthia