Futu News reported on April 16 that the trend of Hong Kong stocks was weak today. As of the close, the Hang Seng Index fell 2.12%, the Science Index fell 3.04%, and the China Index fell 1.92%.
By the close, Hong Kong stocks had risen 389, down 1,609, and closed at 995.
The specific industry performance is as follows:
On the sector side, TechNet stocks have collectively weakened, with Bilibili falling more than 5%, Kuaishou and Xiaomi falling more than 3%, Ali, Meituan, and Baidu falling nearly 3%, JD and NetEase falling more than 2%, and Tencent falling nearly 1%.
Photovoltaic glass stocks generally fell, with Follett Glass falling more than 7%, Xinyi Solar Energy falling more than 5%, Xinyi Glass and GCL Technology falling more than 2%, and Fuyao Glass falling nearly 2%.
Auto stocks fell sharply, with NIO falling more than 10%, Xiaopeng Motors and Zero Sports by more than 5%, Ideal Auto and Great Wall Motors falling by nearly 5%, and BYD shares falling by more than 1%.
Gaming stocks continued to decline. Aobo Holdings fell nearly 7%, Sands China fell nearly 6%, Melco International Development fell more than 5%, Galaxy Entertainment fell nearly 5%, Wynn Macau fell nearly 4%, and MGM China fell nearly 3%.
Apple concept stocks plummeted. Fuzhikang Group fell nearly 12%, Shunyu Optical Technology fell more than 6%, Gaowei Electronics fell more than 4%, BYD Electronics fell nearly 4%, and Ruisheng Technology fell more than 1%.
On the other side, coal stocks have partially risen, while food and beverage stocks, power stocks, heavy machinery stocks, and semiconductor stocks have fallen one after another.
In terms of individual stocks,$XINYI SOLAR (00968.HK)$It fell by more than 5%, photovoltaic glass inventories slowed down, and the industry's new production capacity reached production one after another, leading to oversupply.
$SUNNY OPTICAL (02382.HK)$It fell more than 6%, iPhone sales fell nearly 10% in the first quarter, and may continue to be under pressure in the second quarter.
$CHALCO (02600.HK)$It fell nearly 5%, and Russian Metals was sanctioned by Britain and the US. The market is worried that Rusal will enter the domestic market in large numbers.
$CITIC SEC (06030.HK)$It fell nearly 5%, leading the decline in Chinese brokerage stocks. Agencies say concerns about stricter regulations have clearly responded to stock prices.
$SAMSONITE (01910.HK)$It fell more than 4%. Reports suggest that private equity companies' interest in acquiring Samsonite has weakened due to excessive valuations.
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$9.877 billion.
Agency Perspectives
Komo: Giving JD Logistics-SW an “plus” rating, target price of HK$17
J.P. Morgan Chase released a research report saying that$JD LOGISTICS (02618.HK)$With an “increase in holdings” rating, the target price is HK$17. Efforts to improve operating efficiency will continue to support the expansion of its profit margins. The bank expects the company's revenue to increase 10% year-on-year to RMB 40.4 billion in the first quarter, in line with institutional forecasts.
Damo: Maintaining AIA's “Overweight” rating, target price of HK$94
According to a research report published by Morgan Stanley, it is expected$AIA (01299.HK)$The value of new business in the first quarter in real exchange rates increased 19% year over year and 23% at fixed exchange rates, mainly driven by strong growth in mainland China, Hong Kong and Thailand. Profit margins have bottomed out. I believe the financial data is recovering, maintaining the “gain” rating, and the target price is HK$94.
Citi: Giving Brilliance China a “buy” rating, and the target price was raised to HK$10.02
Citi released a research report saying,$BRILLIANCE CHI (01114.HK)$A special dividend of $1.5 per share was declared. Considering that the company may pay 2 to 3 dividends this year in accordance with previous guidelines, and that management promised a higher level of total dividend payments for the 2024 fiscal year than for the previous fiscal year, it is believed that the special interest paid by the company is higher than market expectations. The bank expects Brilliance to pay a further special dividend of $2 for the rest of the year and raise the group's target price from HK$9.52 to HK$10.02, with a “buy” rating.
Edit/Cynthia