Futu News reported on May 20 that the three major indices of Hong Kong stocks rose sharply. By the close, the Hang Seng Index had risen 0.42%, the Science Index had risen 0.55%, and the National Index had risen 0.42%.
By the close, Hong Kong stocks were up 1,262, down 829, and closed at 870.
The specific industry performance is as follows:
On the sector side, the trend of TechNet shares was mixed. JD rose more than 2%, Kuaishou rose nearly 2%, and NetEase rose more than 1%; Baidu fell more than 3%, Bilibili and Meituan fell nearly 1%, and Ali and Xiaomi fell slightly.
Auto stocks rose one after another. Xiaopeng Motors rose more than 7%, Zero Sports Auto rose nearly 7%, Geely Auto and Ideal Auto rose more than 4%, and BYD shares rose nearly 2%.
Non-ferrous metals stocks generally rose, with China Silver Group surging by more than 54%, China Gold International by nearly 8%, China Aluminum and Jiangxi Copper by more than 5%, Zijin Mining by nearly 5%, Shandong Gold by more than 4%, and China Hongqiao by more than 3%.
Gas stocks rose. China Gas rose nearly 6%, Xinao Energy and China Resources Gas rose nearly 3%, and Kunlun Energy and Hong Kong and China Gas rose nearly 2%.
Coal stocks rose one after another. Yancoal Australia rose nearly 6%, China Coal Energy rose nearly 4%, Yankuang Energy rose more than 2%, and China Shenhua rose more than 1%.
On the other hand, domestic housing stock trends are beginning to diverge. The trend of high-interest concept stocks, led by big finance, is relatively flat, and real estate industry chains such as home appliance stocks and building materials and cement stocks are clearly declining.
In terms of individual stocks,$LI NING (02331.HK)$With an increase of more than 7%, the sales volume of the identification platform increased significantly, and the company's inventory returned to a healthy trend.
$LEAPMOTOR (09863.HK)$Up nearly 7%, revenue in the first quarter increased 1.4 times year over year, and delivery volume increased more than 2 times.
$XD INC (02400.HK)$It has increased by more than 8%, and has increased 1.5 times since the beginning of February. The “Let's Go Muffin” national uniform has topped the free list.
$KEEP (03650.HK)$It increased by more than 13%, and a HK$100 million repurchase program was launched.
$HAICHANG HLDG (02255.HK)$With an increase of nearly 5%, the company's overall business has recovered well, and reserves for large-scale projects are abundant.
$VITASOY INT'L (00345.HK)$The increase was more than 11%, and annual profit is expected to increase by up to 1.76 times year on year.
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$2.49 billion.
Agency Perspectives
Cathay Pacific Junan: Maintaining JD Group-SW's “Overweight” Rating, Target Price HK$163
Guotai Junan released a research report saying that it will maintain$JD-SW (09618.HK)$With the “increase in holdings” rating, the operating income of FY2024E/FY2025E/FY2026E was slightly adjusted to be $1,1661/12,359/1,298.3 billion, respectively. The adjusted net profit was $378/403/44.9 billion, respectively, and the target price was HK$163. With high subsidies and high investment, the company's net profit still grew beyond expectations. The transformation of the mall has paid off. The 3P ecosystem continues to be built, increasing the content ecosystem, and supporting live streaming, which is expected to create a new growth pole.
Citibank: Maintains Hang Seng Bank's “neutral” rating, and the target price rises to HK$109
Citi released a research report stating that it will$HANG SENG BANK (00011.HK)$Earnings per share forecast for FY2024 to FY2026 increased by 2 to 3%, mainly due to increased handling fee revenue and reduced tax expenses due to a recovery in market sentiment. Meanwhile, due to reduced uncertainty in the macro environment, the bank lowered the assumed cost of equity to 9.8%, compared to the original estimate of 10.4%. Based on the above forecast changes, the target price was raised from HK$96 to HK$109, maintaining the “neutral” rating.
Lyon: Maintaining Minhua Holdings' “outperforming the market” rating and raising the target price to HK$8.1
Lyon released a research report saying that based on more favorable property market measures, it will be maintained$MAN WAH HLDGS (01999.HK)$“Outperform the market” rating, and the target price was raised from HK$6.2 to HK$8.1. According to the report, the company's sales for fiscal year 2024 increased 6.1% year on year, 1.7% higher than expected. This was mainly due to a 26.6% increase in sales volume of soft products during the period, but this was partly offset by an 18.7% drop in average sales prices. Due to the decline in raw material prices during the period, gross margin increased by 0.9 percentage points to 39.4%, and the net profit margin also increased 1.5 percentage points to 12.5%, 0.6 percentage points higher than the bank's expectations.
Edit/Cynthia