Futu News reported on May 22 that the three major indices of Hong Kong stocks had mixed ups and downs. By the close, the Hang Seng Index had fallen 0.13%, the Science Index had risen 0.30%, and the National Index had fallen 0.05%.
By the close, Hong Kong stocks were up 1,099, down 845, and closed at 1,067.
The specific industry performance is as follows:
On the sector side, the trend of TechNet shares was mixed. Kuaishou rose more than 2%, Bilibili rose 2%, and Xiaomi and Tencent rose slightly; NetEase fell more than 3%, JD fell more than 2%, Baidu and Ali fell nearly 2%, and Meituan fell slightly.
Photovoltaic solar energy stocks rose, with Xinte Energy up more than 17%, GCL Technology by more than 12%, Follett Glass by more than 9%, Xinyi Solar Energy by nearly 7%, and Xinyi Glass by nearly 2%.
Auto stocks rose many times. Xiaopeng Motor rose more than 13%, NIO rose more than 5%, Ideal Auto rose nearly 2%, and Geely rose more than 1%.
A number of sporting goods stocks rose; Li Ning rose more than 4%, Anta Sports rose more than 1%, and Taobo and Yuyuan Group rose nearly 1%.
Gold stocks continued to recover. China Gold International and Lingbao Gold fell more than 4%, while Zhaojin Mining, Zijin Mining, and Shandong Gold fell more than 2%.
Copper stocks fell; Wanguo International Mining fell nearly 6%, Minmetals Resources fell 4%, Jiangxi Copper shares and China Nonferrous Mining fell more than 2%.
On the other side, Apple concept stocks, high-speed rail infrastructure stocks, and military stocks generally rose; domestic housing stocks mostly fell in the afternoon, and industrial chains such as building materials and cement stocks plummeted.
In terms of individual stocks,$XPENG-W (09868.HK)$After the results, it rose by more than 13%. Revenue for the first quarter exceeded expectations, and gross margin rose sharply to 12.9%.
$MOBVISTA (01860.HK)$With an increase of nearly 13%, Q1 revenue and profit all reached record highs, and Mintegral's intelligent bidding products were verified by the market.
$GCL TECH (03800.HK)$With an increase of more than 12%, the PV Industry Association proposed strengthening the crackdown on vicious competition and encouraging industry mergers and restructuring.
$SMOORE INTL (06969.HK)$It rose more than 6%, and the controlling shareholder lifted its pledge of 300 million shares, and compliance in overseas markets continued to advance.
$TIMES ELECTRIC (03898.HK)$With an increase of nearly 5%, China Railway tenders exceeded expectations, and the rail transit industry may welcome a new round of growth opportunities.
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$1,654 billion.
Agency Perspectives
J.P. Morgan Chase raised Ctrip's target price to HK$550 to maintain “gain” rating
According to a report published by J.P. Morgan,$TRIP.COM-S (09961.HK)$The stock price has risen by about 58% since the beginning of the year, significantly outperforming its peers. I believe this is due to a positive revaluation of its profit forecast, an increase in the overall valuation of the industry, and an improvement in medium- to long-term profit prospects due to the recovery in travel demand. The bank maintained a positive stock price outlook for 6 to 12 months, mainly due to a structural increase in profit margins in the local market; an increase in outbound travel market share, driving profit growth in the next few quarters; and strong growth in the international online travel platform business, which supports continued long-term profit growth.
CICC: Maintains NetEase -S outperforms the industry rating, with a target price of HK$206
CICC released a research report saying that it maintains$NTES-S (09999.HK)$“Outperform the industry” rating, with a target price of HK$206. The company held the “Together with Love” 2024 game conference on May 20. The conference showcased the latest developments such as testing and scheduling of 12 new games, as well as new versions, new plans, and new event layouts for several products that have already been launched. The bank recommended continuing to monitor the operating status of the company's existing products and the progress of new product testing and launch.
Damo: I&T maintains “gain” rating, and the target price rises to HK$116
Morgan Stanley released a research report saying that it believes the recent supply chain trough has passed.$TECHTRONIC IND (00669.HK)$It is expected to achieve a multi-year profit upward cycle, raising the target price by 7.4%, from HK$108 to HK$116, and maintaining the “gain” rating. Damo said that the increase in I&T's target price mainly reflects an increase in profit forecasts and a 23 times target price-earnings ratio. The price-earnings ratio for 2024-2026 is 12 times the profit growth ratio (PEG). Damo believes that although the stock has outperformed the market over the past year, the strengthening of the industry and earnings cycle will drive the re-rating.
Edit/Cynthia