Futu News reported on May 14 that the three major indices of Hong Kong stocks had mixed ups and downs. By the close, the Hang Seng Index had fallen 0.22%, the Science Index had risen 0.57%, and the National Index had fallen 0.30%.
By the close, Hong Kong stocks were up 898, down 1,060, and closed at 1,071.
The specific industry performance is as follows:
On the sector side, many shares of TechNet rose. Bilibili rose nearly 5%, Xiaomi rose more than 3%, Baidu and Ali rose nearly 2%, NetEase rose more than 1%, Kuaishou and Tencent rose nearly 1%, and Meituan and Jingdong fell slightly.
Auto stocks rose one after another. Great Wall Motor rose more than 7%, Zero Sports Auto rose nearly 7%, NIO rose more than 4%, Geely Auto rose nearly 3%, and BYD shares and Xiaopeng Motor rose slightly.
Domestic housing stocks declined, with Agile falling nearly 13%, Xuhui Holdings and Sunac China falling nearly 4%, China Resources Land falling nearly 2%, and China's overseas development falling more than 1%.
Coal stocks fell; Yankuang Energy fell more than 7%, Shougang Resources fell more than 5%, Yancoal Australia fell more than 4%, China Coal Energy fell more than 3%, and China Shenhua nearly 2%.
Gaming stocks have pulled back. Galaxy Entertainment fell nearly 4%, MGM China fell more than 3%, Aobo Holdings and Wynn Macau fell nearly 3%, and Sands China Co., Ltd. fell more than 2%.
On the other side, domestic insurance stocks, domestic bank stocks, Chinese brokerage stocks, and petroleum stocks declined; building materials and cement stocks, photovoltaic stocks, home appliance stocks, and high-speed rail infrastructure stocks fell sharply.
In terms of individual stocks,$BILIBILI-W (09626.HK)$With an increase of nearly 5%, the first-quarter results were well received by institutions, and the launch of the new game is expected to contribute to the increase.
$LAEKNA-B (02105.HK)$With an increase of 18%, LAE102 was approved for clinical trials of a new drug indicated for obesity.
$GWMOTOR (02333.HK)$With an increase of more than 7%, the company's overseas sales continued to be high, and the profit level of export models was even higher.
$XTEP INT'L (01368.HK)$With an increase of nearly 7%, the company plans to divest its loss-making business, and all of the proceeds will be used to pay special dividends.
$XINYI GLASS (00868.HK)$It fell nearly 10%, widened the gap between supply and demand or harmed the company's profits, and Damo lowered its rating and target price.
$ZTO EXPRESS-W (02057.HK)$With an increase of more than 4%, industry demand growth is resilient, and the performance growth of leading companies is highly certain.
Today's top 10 Hong Kong stock turnover
Hong Kong Stock Connect Capital
On the Hong Kong Stock Connect side, Hong Kong Stock Connect (southbound) had a net outflow of HK$115 million today.
Agency Perspectives
Yamato: Reiterates Tencent Music-SW “Buy” Rating and Raises Target Price to HK$60
Yamato released a research report saying, “Reiterating$TME-SW (01698.HK)$The “Buy” rating raised the revenue forecast for the 2024-2026 fiscal year by 3% to 5%, the earnings forecast per share by 8% to 12%, and the target price from HK$49 to HK$60 due to better-than-expected user growth and lower operating costs.
Yamato: Reiterates China Power's “Buy” Rating and Raises Target Price to HK$4
Yamato released a research report saying, “Reiterating$CHINA POWER (02380.HK)$With a “buy” rating, the target price was raised from HK$3.7 to HK$4. The valuation is attractive. Although China Electric Power did not disclose first-quarter results, the bank expects the company to record profits in the first quarter because hydropower generation increased 78% year-on-year in the first quarter, and coal-fired power generation remained flat year-on-year. Furthermore, early signs in terms of the company's hydropower generation and water supply for the second and third quarters were better than expected. The bank raised the company's annual hydropower usage forecast from 3,899 hours to 4115 hours.
Bank of America Securities: Reiterates Ideal Automobile-W “Buy” Rating Target Price Reduced to HK$160
Bank of America Securities released a research report, stating that$LI AUTO-W (02015.HK)$The “Buy” rating reduces the sales forecast for the 2024-2026 fiscal year by 3%, 2% and 2%, respectively; the non-GAAP profit forecast for the same period is reduced by 20%, 9% and 12%, respectively, and the target price was lowered from HK$168 to HK$160.
Edit/Cynthia