Futu News reported on April 19 that the trend of Hong Kong stocks was weak today. As of the close, the Hang Seng Index fell 0.99%, the Science Index fell 2.35%, and the China Index fell 0.99%.
By the close, Hong Kong stocks had risen by 590, down 1,270, and closed at 1,133.
The specific industry performance is as follows:
On the sector side, TechNet stocks declined one after another. Xiaomi and Kuaishou fell more than 3%, Meituan fell more than 2%, Ali and Bilibili fell nearly 2%, Baidu fell more than 1%, and JD and Tencent fell slightly.
Auto stocks declined, with Ideal Auto and Xiaopeng Motors falling more than 7%, Zero Sports Auto falling more than 3%, Geely and BYD shares falling more than 2%, and Great Wall falling nearly 1%.
Apple concept stocks fell, with Ruisheng Technology falling nearly 7%, Gaowei Electronics falling nearly 6%, Shunyu Optical Technology falling nearly 5%, and BYD Electronics falling more than 4%.
Gaming stocks generally fell, with Sands China and Belle Palace falling nearly 5%, Wynn Macau falling more than 2%, MGM China falling nearly 2%, and Galaxy Entertainment falling more than 1%.
Petroleum stocks rose sharply; CNPC rose more than 2%, CNOOC and Sinopec rose more than 1%, and CNOOC Services rose nearly 1%.
On the other hand, shipping stocks and gold stocks rose against the market, while mobile phone industry chain stocks, car dealer stocks, lithium battery stocks, etc. fell one after another.
In terms of individual stocks,$LI AUTO-W (02015.HK)$It fell more than 7%, L6 sank to the 200,000-300,000 price range, and competition in the institutional materials market continued to heat up.
$XPENG-W (09868.HK)$It fell more than 7%. Since April, many brands have launched promotions one after another, and the price war's effect on short-term sales is not obvious.
$ASMPT (00522.HK)$With a decline of more than 7%, consumer weakness continues, and institutions expect the semiconductor industry to perform lackluster in the first quarter.
$BOSIDENG (03998.HK)$The increase was nearly 6%, and the sunscreen category was further enriched, which is expected to boost summer performance breakthroughs in the new fiscal year.
$CHALIECO (02068.HK)$It rose nearly 13%, and net profit for the first quarter was 104 million yuan, a year-on-year increase of 33.43 times.
$KEEP (03650.HK)$With an increase of more than 5% and a cumulative increase of more than 65% during the month, the company announced that it will increase the field of outdoor and AI.
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 HK$7.271 billion (southbound) was HK$7.271 billion.
Agency Perspectives
CICC: Maintaining Tep International's “Outperforming Industry” rating, target price raised to HK$5.47
CICC released a research report saying that it maintains$XTEP INT'L (01368.HK)$“Outperform the industry” rating, the 2024/25 EPS forecast remains unchanged at 0.45/0.52 yuan. Considering the increase in the valuation center of the industry, the target price was raised 16% to HK$5.47. The company announced its business conditions for the first quarter. The retail sales volume of the main brand of XTEP increased by a year-on-year increase in the number of units, retail discounts of 7 to 25% off, and channel inventory turnover for 4-4.5 months.
Xiaomo: Dongfang Overseas International “added” rating, target price reduced to HK$145
J.P. Morgan Chase released a research report saying that$OOIL (00316.HK)$With the “Overweight” rating, the target price was reduced by 12% from HK$165 to HK$145. Considering OCW's operations in the second half of 2023 and the first quarter of 2024, J.P. Morgan believes that although the latest performance and dividend decisions are not impressive, OCEC's valuation is still attractive.
Citigroup: Upgraded the rating of Jiangxi Copper Co., Ltd. to “buy”, and the target price was raised to HK$25
Citi released a research report saying that the update is correct$JIANGXI COPPER (00358.HK)$The forecasting model takes into account the latest copper price forecasts and company guidelines. The bank expects copper prices to rise, reaching an average of 10,000 US dollars per ton by the fourth quarter of 2024 and 12,000 US dollars in 2026. As a copper producer, the Jiangxi copper industry is expected to benefit from rising copper prices. Citigroup raised the target price of Jiangtong H shares from HK$11.1 to HK$25, and the rating was raised to “buy”.
Edit/Cynthia