Futu News reported on April 17 that the three major indices rose slightly. By the close, the Hang Seng Index had risen 0.02%, the Tech Index had risen 0.07%, and the National Index had risen 0.1%.
By the close, Hong Kong stocks were up 1102, down 731, and closed at 1,160.
The specific industry performance is as follows:
On the sector side, the majority of TechNet stocks fell; Kuaishou fell more than 3%; Meituan, Ali, NetEase, and Baidu fell about 1%; Tencent and Jingdong fell slightly; Bilibili rose more than 1%; and Xiaomi rose more than 2%.
Heavy infrastructure stocks strengthened. China Metallurgical, China Railway, and China Communications Construction rose about 3%, while China Railway Construction rose more than 2%.
Semiconductor stocks rose, with Shanghai Fudan up more than 8%, and SMIC and Huahong Semiconductors up more than 1%.
Pharmaceutical stocks rose in part. Giant Biotech rose nearly 6%, Pharmaceutical Kangde rose nearly 5%, and Pharmaceutical Biotech rose more than 2%.
Electricity stocks generally rose. China Resources Electric Power rose nearly 3%, Datang Power, China Electric Power, and Huadian Power rose about 2%, and Huaneng International Power rose nearly 1%.
Gaming stocks continued to recover, with Galaxy Entertainment falling more than 7%, Sands China falling more than 3%, and Wynn Macau falling more than 1%.
In terms of individual stocks,$LI AUTO-W (02015.HK)$Up nearly 4%. The Ideal L6 product launch will be held tomorrow, and the company will begin the Matrix Organization 2.0 upgrade and transformation.
$SHANGHAI FUDAN (01385.HK)$With an increase of more than 8%, which is an inflection point in the semiconductor industry cycle, the performance of related companies is expected to improve quarterly in the second half of the year.
$CHINA TELECOM (00728.HK)$Telecom stocks rose by nearly 4%, operators gradually cut capital expenses, and ROE levels are expected to continue to rise.
$FIT HON TENG (06088.HK)$Up more than 5%, the net profit for the first quarter is expected to be no less than 7 million US dollars, turning a year-on-year loss into a profit.
$Q TECH (01478.HK)$With an increase of nearly 7%, the Huawei Pura 70 is about to be released. Citi says it is expected to benefit.
$SENSETIME-W (00020.HK)$With an increase of more than 5%, the company's business is being restructured, and the revenue and share of the generative AI business is expected to continue to increase.
$CANSINOBIO (06185.HK)$With an increase of more than 5% in the afternoon, MCV series products are expected to usher in further sales.
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$1,147 million.
Agency Perspectives
CMB International: Maintaining Tencent Holdings' “Buy” Rating, Lowering Target Price to HK$445
CMB International released a research report stating that it will maintain$TENCENT (00700.HK)$The “Buy” rating slightly lowered the 2024-2026 gross revenue forecast by 1% to 2%, mainly reflecting the relatively weak gaming business. The target price was lowered from HK$450.5 to HK$445.
Damo: CNOOC “increased” rating, target price raised to HK$19.8
Dama released a research report saying that$CNOOC (00883.HK)$“Overweight” rating. Currently, the basic long-term forecast for oil prices is 75 US dollars per barrel. At the same time, CNOOC's mid-term production forecast was raised to reflect the Group's latest aggressive capital expenditure budget. The target price was raised from HK$18.18 to HK$19.8. The bank also raised CNOOC's 2024-2026 earnings forecast per share by 1% to 4% to RMB 3.3, 3 and 2.8, taking into account factors such as recent geopolitical tension.
UBS: First “Buy” rating for Shanghai Pharmaceuticals with a target price of HK$14.9
UBS released a research report saying that it was first given$SH PHARMA (02607.HK)$“Buy” rating, target price HK$14.9. Shanghai Pharmaceutical is the second-largest pharmaceutical distributor in China. It accounts for about 9.5% of the market share in 2022. It is optimistic that it has the potential to have differentiated one-stop distribution services and its own pipeline for the production of new drugs. It is predicted that the compound annual growth rate of revenue and profit will reach 10% and 10.6% from 2024 to 2026. Potential positive catalysts include approval of new drugs, strong drug sales expectations, and signing new exclusive distribution agreements with international pharmaceutical companies.
edit/ruby