Futu News reported on April 26 that the three major indices of Hong Kong stocks rose across the board. By the close, the Hang Seng Index had risen more than 2%, the Science Index had risen nearly 5%, and the National Index had risen more than 2%. The Hang Seng Index and China Index rose continuously for five days, rising 8.80% and 9.10% respectively during the week; the Science Index surged 13.43% during the week.
By the close, Hong Kong stocks had risen 1,431, down 600, and closed at 918.
The specific industry performance is as follows:
On the sector side, TechNet shares performed well. Kuaishou rose more than 7%, JD rose nearly 6%, Xiaomi and Bilibili rose more than 4%, Meituan rose nearly 4%, Alibaba and Baidu rose more than 3%, Tencent rose nearly 3%, and NetEase rose nearly 2%.
Auto stocks continued to rise. Xiaopeng Motors rose nearly 9%, Zero Sports Auto rose more than 8%, NIO rose more than 7%, Ideal Auto rose nearly 6%, and BYD shares rose more than 4%.
Domestic housing stocks rose, with Sunac China up more than 15%, Longhu Group by more than 12%, Xincheng Development by nearly 9%, China Resources Land by more than 8%, China Resources Land by nearly 7%, and Vanke Enterprise by more than 6%.
Biotech stocks generally rose. Tiger Pharmaceuticals rose more than 8%, Pharmaceutical Biotech rose nearly 6%, Pharmaceutical Kangde rose more than 4%, and Kingsley Biotech and BeiGene Shenzhou rose more than 2%.
Non-ferrous metals stocks rose one after another. Luoyang Molybdenum industry rose nearly 7%, Zhaojin Mining rose more than 4%, Jiangxi Copper shares rose nearly 4%, Zijin Mining rose more than 3%, and China's Hongqiao rose nearly 3%.
On the other side, photovoltaic stocks, heavy machinery stocks, catering stocks, semiconductor stocks, petroleum stocks, etc. rose one after another; electricity stocks and coal stocks bucked the trend and declined.
In terms of individual stocks,$SUNNY OPTICAL (02382.HK)$With an increase of more than 7%, Citi said it will pay close attention to the company's announcements regarding equity lead options transactions.
$FIT HON TENG (06088.HK)$It rose more than 11%, and is expected to turn a loss into a profit in the first quarter. Management will provide more information updates on the results.
$TIGERMED (03347.HK)$It rose more than 8%, leading the way in CRO concept stocks. Reports say the national level is expected to introduce an action plan for the biological manufacturing industry in the near future.
$DONGYUE GROUP (00189.HK)$With an increase of nearly 9%, the subsidiary Dongyue Silicon turned a loss into a profit in the first quarter, and the company benefited from rising refrigerant market prices.
$EAST BUY (01797.HK)$It rose more than 8%, and received an increase of 1 million shares from New Oriental. Goldman Sachs is optimistic that its gross operating margin will improve in the fourth fiscal quarter.
$MNSO (09896.HK)$With an increase of more than 7%, the agency expects its first-quarter results to be in line with expectations, and sales momentum continues to be steady.
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$1,173 billion.
Agency Perspectives
Damo: Maintaining the Xiaomi Group-W “gain” rating, target price of HK$20
Morgan Stanley released a research report saying that maintaining$XIAOMI-W (01810.HK)$“Overweight” rating, target price HK$20. Xiaomi Chairman Lei Jun said that the SU7 has only been on the market for 28 days, and shipments have reached 5,781 units. According to the report, as of April 24, more than 75,723 new orders had been confirmed, up from 70,000 units on April 20. This means that despite a long wait for delivery, new orders are gaining momentum. After visiting Xiaomi's electric vehicle factory in Beijing, Damo said that the Xiaomi factory is highly automated and has advanced production equipment and production and operation systems. The bank believes that this is an important factor supporting the good quality of SU7 and the rapid increase in production capacity.
Lyon: Reiterates AIA's “Buy” Rating, Target Price HK$80
Lyon released a research report saying,$AIA (01299.HK)$The stock price dropped unexpectedly after disclosing last year's results. It is believed that the market is based on concerns about the macro environment, and the company's fundamentals are still stable. The bank expects AIA's new business value to increase by 18% in the first quarter of this year. The stock's valuation is currently at a historically low level, with a shareholder return of 6%. The “buy” rating was reiterated, and the target price remained at HK$80.
CITIC Securities: Giving Great Wall Motor a “buy” rating and raising the target price to HK$17
CITIC Securities released a research report stating that$GWMOTOR (02333.HK)$The “buy” rating, considering that export sales in March exceeded expectations and that export profits were higher than domestic expectations, raised the company's 2024-2026 earnings forecast per share to $1.19/1.42/1.67. The original forecast was $1.11/1.29/1.5, and the target price was raised from HK$15 to HK$17.
Edit/Cynthia