Futu News reported on April 23 that the three major indices of Hong Kong stocks rose sharply. By the close, the Hang Seng Index had risen 1.92%, the Science Index had risen 3.38%, and the National Index had risen 2.12%.
By the close, Hong Kong stocks had risen by 1,024, fell by 865, and closed by 1109.
The specific industry performance is as follows:
On the sector side, TechNet shares led the market. Kuaishou rose nearly 9%, Meituan rose nearly 8%, JD rose more than 6%, Tencent rose nearly 4%, Bilibili rose more than 3%, Xiaomi and Baidu rose more than 2%, and Alibaba rose nearly 2%.
Biotech stocks rose by many stocks. Lai Kai Pharmaceutical rose nearly 13%, Kangfang Biotech rose nearly 6%, Pharmaceutical Syndicate and Pharmaceutical Kangde rose more than 3%, and Pharmaceutical Biotech rose more than 1%.
Gold stocks declined. Lingbao Gold fell nearly 4%, Zijin Mining and Zhaojin Mining fell more than 3%, and Shandong Gold fell more than 2%.
Many coal stocks fell sharply. Honghai Hi-Tech Resources fell more than 5%, Yankuang Energy fell more than 3%, China Coal Energy and Yancoal Australia fell more than 2%, and China Shenhua fell slightly.
Restaurants generally rose; Haidilao and Jiumaojiu rose nearly 4%, while Baisheng China rose slightly.
On the other side, mobile game stocks, pork concept stocks, beer stocks, sporting goods stocks, etc. have risen one after another, while military stocks and heavy machinery stocks have declined.
In terms of individual stocks,$INNOVENT BIO (01801.HK)$With an increase of more than 6%, dabertan, a cholangiocarcinoma treatment drug, was approved for marketing in Macau, China.
$WH GROUP (00288.HK)$It rose nearly 6%, and net profit for the first quarter increased 73% year over year to US$301 million.
$HUTCHMED (00013.HK)$It increased by more than 5%. Fruquintinib was released rapidly after launch, and many major products are expected to be approved for major indications.
$CMGE (00302.HK)$With an increase of nearly 13%, Pearl River Investment Management Jiang Yukai joined the board of directors of China Mobile Games.
$UBTECH ROBOTICS (09880.HK)$With an increase of more than 6%, mass production of Walker S is accelerating, and mass production is expected in small batches by the end of the year.
$WEIMOB INC (02013.HK)$With an increase of more than 7%, the company's marketing business has maintained rapid growth, and operating cash flow has been corrected.
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$2.34 billion.
Agency Perspectives
UBS: Maintaining Zijin Mining's “Buy” Rating, Target Price HK$18
UBS released a research report saying that it maintains$ZIJIN MINING (02899.HK)$“Buy” rating, target price HK$18. The company announced a net profit of 6.261 billion yuan for the first quarter on the 22nd, reaching 24.6% of the bank's annual forecast of 25.422 billion yuan and 22.7% of the market forecast of 27.521 billion yuan. However, the production and sales volume of mineral gold in the first quarter of this year decreased by 830 and 1,477 kilograms compared to the previous quarter, mainly due to the suspension of production of Zijin in Shanxi. As a result, mineral gold contributed only 607 million yuan more gross profit over the previous month.
Damo: Giving Bubble Mart an “increase” rating, target price of HK$38
Dama released a research report saying that$POP MART (09992.HK)$“Overweight” rating, target price HK$38. The company's strong sales data for the first quarter marked the beginning of a new growth cycle. Mainland sales increased 20% and overseas sales increased by 240% to 245%. The data is remarkable, and the accelerated growth of overseas business is also worth paying attention to. The bank believes that after the first quarter data is released, the company's stock price will respond positively. Future catalysts include May Day Gold Week, because the company's recent sales performance during the long holiday season is good. In addition, a toy set similar to Lego will be launched in June, mobile games will be publicly tested, and a non-toy series of popular intellectual property (IP) products will also be launched in the second half of the year, so it still has a positive opinion on the company.
Macquarie: Maintaining Wanzhou International's “outperforming the market” rating, with a target price of HK$7.4
Macquarie released a research report saying, maintain$WH GROUP (00288.HK)$“Outperform the market” rating. The target price is HK$7.4. Upstream business in the US has improved. The current price is equivalent to 11 times the projected price-earnings ratio for the 2024 fiscal year, and the cash dividend ratio is 5.5%. The company's operating profit for the first quarter increased 37% year on year, 3.4% higher than the bank's forecast. US business profit increased strongly 2.08 times, offsetting the impact of a 10% drop in operating profit from the Chinese business. The company is confident that the US upstream business will achieve profits in the second and third quarters of this year, and it is expected that the profit of the Chinese business will achieve positive growth throughout the year.
Edit/Cynthia