Futu News reported on April 24 that Hong Kong stocks surged for three consecutive days. Driven by technology stocks, the Hang Seng Technology Index took the lead, rising sharply by 3.61%. The Hang Seng Index and China Index rose 2.21% and 2.45% respectively, and the Hang Seng Index returned above the 10,000 mark.
By the close, Hong Kong stocks had risen 1,327, down 667, and closed at 1004.
The specific industry performance is as follows:
In terms of sectors, Technet stocks rose across the board. Station B rose nearly 9%, Kuaishou rose more than 8%, Meituan rose nearly 5%, Ali and Jingdong rose about 4%, Tencent rose more than 3%, and Xiaomi rose nearly 3%.
Pharmaceutical stocks were mostly higher. BeiGene Shenzhou rose more than 6%, Cinda Biotech rose more than 5%, China Biopharmaceuticals rose nearly 4%, and Hehuang Pharmaceutical rose more than 3%.
Semiconductor stocks were active. ASMPT rose nearly 7%, Shanghai Fudan rose more than 5%, SMIC rose nearly 4%, and Huahong Semiconductor rose more than 2%.
The application software sector rose sharply. Before the suspension of trading, Shangtang soared by 31.15%, Inspur Digital Enterprise and Flying Sports rose by more than 11%, Innovative Wisdom rose nearly 8%, and Jinshan Software rose nearly 4%.
Domestic housing stocks rose sharply. Agile Group rose nearly 9%, Xincheng Development rose more than 7%, Xuhui Holdings rose nearly 7%, and China Resources Land rose nearly 4%.
On the other side, gold prices stabilized after falling sharply, and gold stocks were once again active. Q1 performance exceeded expectations, Zijin Mining rose more than 4%; SaaS concept stocks, insurance stocks, semiconductor stocks, film and television entertainment stocks, mobile game stocks, aviation stocks, and automobile stocks rose one after another. On the other hand, Q1 had an estimated loss of 3.6 billion yuan to 4.3 billion yuan. Tianqi Lithium fell more than 19%, leading the decline in lithium battery stocks, while Ganfeng Lithium continued to decline.
In terms of individual stocks,$TENCENT (00700.HK)$It rose more than 3%, and the stock price reached HK$344, with a turnover of over HK$14.1 billion and a total market value of HK$3.25 trillion.
$BILIBILI-W (09626.HK)$With an increase of nearly 9%, Yamato raised Station B's advertising business forecast for this year, raising the target price to HK$93.4.
$HKEX (00388.HK)$After the results, it rose by more than 3%, and net profit reached 2.97 billion yuan in the first quarter, up 14% from the previous quarter.
$SENSETIME-W (00020.HK)$It skyrocketed by 31.15% before the suspension of trading. The company responded that the release of the Japan-Japan New Model 5.0 received great attention from the market and would publish a relevant announcement.
$PING AN (02318.HK)$The increase was more than 4%, and the value of the new Q1 life insurance and health insurance business increased 20.7% year over year.
$CHINAHONGQIAO (01378.HK)$The increase was more than 7%. The agency said that the upward factors in the non-ferrous metals sector were relaxed, but there was no fundamental change.
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$1,995 billion.
Agency Perspectives
Damo: Tencent's “Dungeons and Warriors” is one of the biggest games in recent years, with an estimated revenue of 10 billion yuan in the first year
According to a report published by Morgan Stanley,$TENCENT (00700.HK)$The mobile version of the game “Dungeons and Warriors” in collaboration with Korean game company Nexon is scheduled to be released in mainland China on May 21. According to the bank, this is one of Tencent's largest game releases in recent years, and should be one of the key catalysts driving the inflection point of domestic game business growth in the second quarter. The game's total revenue for the first year is expected to reach 10 billion yuan.
Bank of China International: Raising Huaneng's Target Price to HK$6.2, Reiterating “Buy” Rating
Bank of China International published a report saying,$HUANENG POWER (00902.HK)$The performance for the first quarter of this year was strong. Net profit attributable to shareholders of listed companies was about 4.6 billion yuan, which was superior to the bank's original net profit forecast of 3.9 billion yuan, exceeding the market and the bank's expectations. The pre-tax profit of the coal and electricity sector is about 2.8 billion dollars, which is comparable to the level of the third quarter of last year, indicating that even with partial electricity price cuts, thermal power profits are still resilient. The bank raised Huaneng's full-year profit forecast by 15% and raised the target price to HK$6.2, corresponding to a dividend rate of 7% based on a 50% dividend ratio. Huaneng International is still one of its preferred targets in the power sector, reaffirming its “buy” rating.
Nomura: Maintaining Ping An's “Buy” Rating, Target Price Raised to HK$54.41
Nomura released a research report saying, maintain$PING AN (02318.HK)$With a “buy” rating, net profit and after-tax operating profit (OPAT) for the first quarter of 2024 both exceeded expectations, and the target price was raised 0.5% from HK$54.12 to HK$54.41. According to the report, Pingbao's net profit for the first quarter reached 36 billion yuan, 13% higher than the bank's forecast, and the new life business value (NBV) was also better than the forecast. The company's first-quarter life insurance net profit increased by 0.7% to 25.1 billion yuan, 17% higher than the forecast, mainly due to negative investment differences; favorable business portfolio changes and profit margin expansion, which led to an annual increase of 21% to 12.9 billion yuan in the value of the new business in the first quarter, which is 5% higher than the bank's forecast.
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