Futu News reported on May 16 that the three major indices of Hong Kong stocks rose sharply. As of midday trading, the Hang Seng Index rose 1.59%, the Science Index rose 1.06%, and the National Index rose 1.82%.
By the midday close, Hong Kong stocks had risen 1122, down 791, and closed at 1,099.
On the sector side, TechNet stocks had mixed ups and downs. Tencent rose more than 4%, Meituan rose more than 3%, JD and Bilibili rose more than 2%, NetEase rose nearly 2%, Kuaishou rose nearly 1%, Ali fell more than 2%, and Xiaomi and Baidu fell slightly.
Domestic housing stocks were popular. Ocean Group rose nearly 49%, Shimao Group and Xuhui Holding Group rose about 29%, Vanke Enterprise rose nearly 14%, and Sunac China and Longhu Group rose more than 13%.
Domestic bank stocks generally rose, with China Merchants Bank and China Construction Bank up more than 5%, ICBC by nearly 5%, Postbank by 4%, Bank of China by nearly 3%, and Agricultural Bank by more than 2%.
Insurance stocks strengthened. China Taiping rose more than 6%, China Ping An rose nearly 6%, China Life Insurance and China Taibao rose more than 5%, and Xinhua Insurance rose nearly 5%.
Gold stocks rose one after another. Lingbao Gold rose nearly 7%, China Gold International rose more than 6%, Zhaojin Mining rose nearly 5%, Shandong Gold rose more than 2%, and Zijin Mining rose more than 1%.
On the other side, building materials and cement stocks, home appliance stocks, mobile game stocks, semiconductor stocks, heavy infrastructure stocks, catering stocks, etc. are rising one after another; electricity stocks, military stocks, and automobile stocks are generally weak.
In terms of individual stocks, $TENCENT (00700.HK)$With an increase of more than 4%, games resumed growth, WeChat contributed new revenue, and profits continued to increase faster than revenue.
$SHIMAO GROUP (00813.HK)$With a rise of more than 29%, Lin'an, Hangzhou will buy commercial housing, and Hefei will introduce a new property market policy.
$CNBM (03323.HK)$It has risen by more than 8%. Mainstream cities have successively optimized their purchase restriction policies, and there is not much room for further price cuts for cement.
$ZTO EXPRESS-W (02057.HK)$It rose more than 7%. Adjusted net profit for the first quarter increased 15.8% year-on-year to 2,224 billion yuan, and the number of packages reached 7.171 billion.
$SAMSONITE (01910.HK)$It fell more than 11%, net profit increased 12.3% year on year in the first quarter, and the company lowered its revenue growth guide for the whole year.
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Edit/Cynthia