Futu News reported on May 23 that the three major indices of Hong Kong stocks declined one after another. By the close, the Hang Seng Index had fallen 1.70%, the Science Index had fallen 2.41%, and the National Index had fallen 1.70%.
By the close, Hong Kong stocks were up 496, down 1,493, and closed at 1,023.
The specific industry performance is as follows:
On the sector side, TechNet stocks fell one after another. NetEase fell nearly 8%, Ali fell more than 5%, Jingdong fell more than 4%, Bilibili and Xiaomi fell more than 2%, Baidu fell nearly 2%, Meituan and Tencent fell nearly 1%; and Kuaishou rose nearly 2%.
Auto stocks generally fell, with Zero Run and GAC falling nearly 6%, Xiaopeng Motors falling more than 5%, Ideal Auto falling by more than 4%, Geely by more than 3%, and BYD falling by more than 1%.
Domestic housing stocks and property management stocks declined, Evergrande Property and Sunac China fell nearly 7%, Xuhui Holdings fell more than 6%, Longhu Group, Vanke Enterprise, and Country Garden Services fell nearly 3%, and China Resources Land fell more than 2%.
Non-ferrous metals stocks generally fell. Ganfeng Lithium fell more than 7%, Zijin Mining and Jiangxi Copper shares fell nearly 4%, China's Hongqiao and Shandong Gold fell more than 3%, and Zhaojin Mining fell more than 2%.
Trends in biotechnology stocks diverged. Cansino Biotech rose more than 6%, Lai Kai Pharmaceuticals rose more than 4%, Kangfang Biotech rose more than 1%, BeiGene Shenzhou fell nearly 5%, Pharmaceutical Kangde fell more than 3%, and Pharmaceutical Biotech fell more than 2%.
Semiconductor stocks fell, with Huahong Semiconductor falling nearly 5%, Shanghai Fudan falling nearly 4%, and SMIC falling nearly 3%.
On the other side, catering stocks, electricity stocks, and gambling stocks plummeted; short video concept stocks and coal stocks bucked the trend.
In terms of individual stocks,$RADIANCE HLDGS (09993.HK)$It rose by nearly 83%. It was previously announced that payment of the 300 million US dollar debt has been completed, and all public credit bonds have been settled.
$NTES-S (09999.HK)$It fell nearly 8%, for the third day in a row. Results were announced after the market today.
$BABA-SW (09988.HK)$It fell more than 5%. According to reports, Ali is considering issuing 5 billion US dollars of convertible bonds, which may be issued as early as this week.
$CENTRAL NEW EGY (01735.HK)$It rose more than 10%, and the stock price reached a record high. The company plans to expand new energy projects in Anhui Province.
$ASMPT (00522.HK)$With an increase of more than 3%, Nvidia's performance may boost the AI computing power sector, and the visibility of advanced packaging growth has increased.
$XINTE ENERGY (01799.HK)$It fell more than 8%, and closed yesterday with an increase of more than 17%. Polysilicon prices stopped falling and stabilized.
$CTG DUTY-FREE (01880.HK)$With a drop of more than 4%, the off-season for traditional tourism in Hainan is approaching, and the outlying islands are still under pressure.
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$3.51 billion.
Agency Perspectives
Yamato: Kuaishou-W “Buy” rating, target price raised to HK$90
Yamato released a research report stating that it was confirmed that$KUAISHOU-W (01024.HK)$For the “buy” rating, the target price was raised from HK$85 to HK$90, and the earnings forecast per share for this year and next two years was raised by 3% to 8%, reflecting the improvements in operating leverage and efficiency. The company's revenue for the first quarter was generally in line with expectations, but profits were 37% higher than market expectations. Daily active users and monthly active users increased 5% and 7% year over year, and the average daily usage time of daily active users still reached 129.5 minutes under seasonal influence.
CICC: Maintains Xiaopeng Motor-W's “outperforming the industry” rating, and the target price is reduced to HK$47
CICC released a research report saying that it maintains$XPENG-W (09868.HK)$The “outperforming industry” rating took into account factors such as price competition, software contribution, and cost control, and lowered the revenue forecast for this year and next two years by 19% and 15% to 399 billion yuan and 85.8 billion yuan. A loss of 7.2 billion yuan is expected in 2024, which is less than the original forecast loss of 7.47 billion yuan, and the target price is reduced by 19% to HK$47.
Damo: Giving Galaxy Entertainment a “In sync with the market” rating, the target price was raised to HK$39.5
Morgan Stanley released a research report saying,$GALAXY ENT (00027.HK)$The “In sync with the market” rating raised its EBITDA forecast by 2% due to its slightly higher midmarket share for the 2024 fiscal year. To reflect GEG's average interest rate for the second half of fiscal year 2023, the bank also raised the company's net interest income for fiscal year 2024 and raised its earnings forecast per share by 5% to $2.14. The target price was raised from HK$38 to HK$39.5.
Edit/Cynthia