Futu News reported on May 30 that the three major indices of Hong Kong stocks fell sharply. At the close, the Hang Seng Index fell 1.34%, the Science Index fell 0.33%, and the National Index fell 1.44%.
By the close, Hong Kong stocks had risen 629, down 1304, and closed at 1,032.
The specific industry performance is as follows:
On the sector side, TechNet shares had mixed ups and downs. Meituan fell more than 3%, Baidu fell more than 1%, JD, Bilibili, Tencent, and Ali fell nearly 1%, Xiaomi fell slightly; Kuaishou rose nearly 1%, and NetEase rose slightly.
Domestic housing stocks declined, with Sunac China falling nearly 7%, Vanke falling more than 4%, Longhu Group falling nearly 4%, China Resources Land falling more than 3%, and China's overseas development falling by more than 1%.
Semiconductor stocks rose sharply, with Jingmen Semiconductor up more than 18%, SMIC up nearly 5%, and Shanghai Fudan and Huahong Semiconductors up nearly 4%.
Apple concept stocks generally rose. Shunyu Optical Technology rose more than 6%, Gaowei Electronics rose more than 4%, Ruisheng Technology rose nearly 3%, and BYD Electronics rose nearly 2%.
Gold stocks fell one after another. Zijin Mining fell more than 5%, China Gold International fell nearly 4%, Zhaojin Mining and Lingbao Gold fell more than 3%, and Shandong Gold fell more than 2%.
Shipping stocks declined, with Orient Overseas International falling more than 5%, COSCO Maritime Control falling more than 4%, Haifeng International falling more than 3%, and Pacific Shipping and COSCO Haineng falling more than 2%.
On the other side, coal stocks, petroleum stocks, power stocks, paper stocks, heavy machinery stocks, etc. fell one after another; most photovoltaic stocks and building materials and cement stocks rose.
In terms of individual stocks,$SUNNY OPTICAL (02382.HK)$With an increase of more than 6%, mobile phone lens shipments increased in April, and AI phones may catalyze a new peak of switching cycles.
$CTG DUTY-FREE (01880.HK)$It fell more than 5%, and Xiaomo reduced its holdings by 448,800 shares, putting pressure on duty-free sales in Hainan during the off-season.
$NEW ORIENTAL-S (09901.HK)$The increase was nearly 4%, the company's operating efficiency was optimized, and the industry outlook stabilized.
$FOURTH PARADIGM (06682.HK)$It rose more than 11%, Q1 revenue increased 28.5% year on year, and the Prophet AI platform business revenue soared 80%.
$POP MART (09992.HK)$With an increase of more than 3%, the company accelerated its expansion into the Southeast Asian market. Jefferies said management may raise sales targets for the whole 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$4.401 billion.
Agency Perspectives
CICC: Maintaining Zero Sports Auto's “outperforming the industry” rating, with a target price of HK$36.5
CICC released a research report saying it is optimistic$LEAPMOTOR (09863.HK)$Overseas expansion led to increased revenue, maintaining the company's target price of HK$36.5 and “outperforming the industry” rating. As for Zero Sports Auto, which will start selling electric vehicles in 9 European countries in September this year and will expand sales outlets in Europe to 200, CICC believes that this will not only solve the cost problem of the Group's self-built channels, but also increase brand exposure in Europe. Under the low-cost and efficient overseas expansion model, the bank believes that Zero Sports Auto's profit side can be guaranteed.
Damo: Raised Bubble Mart's target price to HK$45 and transformed into a leading IP operator
Damo released a research report saying that it was raised$POP MART (09992.HK)$The target price-earnings ratio reflects stronger profit growth this year and indicates that the Group has transformed into a leading IP operator. The bank raised its profit forecast for Bubble Mart from 2024 to 2026. It is expected that this year's sales and adjusted net profit will increase by 38% and 40%, respectively, and the target price will rise 18% from HK$38 to HK$45, while raising the target price-earnings ratio for this year to 33 times (or forecast the price-earnings ratio for next year to 26 times). The target price under a bull market scenario is 54 yuan, which assumes a 50% increase in earnings this year.
Citigroup: Maintains Minshi Group's “Buy” rating and increases target price to HK$24
Citi released a research report saying, maintain$MINTH GROUP (00425.HK)$According to the “buy” rating, its net profit forecast for each year from this year to 2026 was adjusted to 2.36 billion, 2.94 billion and 3.25 billion yuan, respectively. The gross margin forecast for this year was 27.3%, and the target price was raised from HK$22 to HK$24. The bank launched a 90-day upward catalyst observation for the company. It estimates that in the first four months of this year, the company's revenue rose 15% to 20% year on year, gross margin reached 28%, and net profit increased 30% year on year, which is better than the company's annual guidance.
Edit/Cynthia