In May, the three major indices of Hong Kong stocks strengthened slightly. By the close of trading this Thursday, the Hang Seng Index had a cumulative increase of 2.63% for the whole month to close at 18230.19 points; the China Index had a cumulative increase of 1.41% over the same period, closing at 3752.76 points; the National Index had the biggest increase of 3.02% for the whole month, closing at 6462.95 points.
Regarding recent fluctuations in Hong Kong stocks, Wang Yang, chief strategy analyst at Zheshang Securities, believes that the short-term increase in congestion and the slowdown in capital inflows are the main factors triggering recent fluctuations in Hong Kong stocks. He said that after experiencing a rapid rise from April 19 to May 20, the short-term sentiment of Hong Kong stocks was high. At the same time, the number of shares held by international intermediaries in Hong Kong stocks had not increased significantly since May, and the net inflow of southbound capital in May slowed down compared to April.
Specifically, many renewable energy concept stocks have strengthened.$CENTRAL NEW EGY (01735.HK)$,$DONGYUE GROUP (00189.HK)$,$CGN MINING (01164.HK)$,$CHINA LONGYUAN (00916.HK)$,$GCL TECH (03800.HK)$During the month, increases of 59.31%, 38.53%, 37.56%, 33.03%, and 29.91% were recorded, respectively.
The State Council issued the “2024-2025 Energy Conservation and Carbon Reduction Action Plan” on May 29, which has deployed ten major energy saving and carbon reduction actions in key areas and key industries such as energy, industry, construction, transportation, public institutions, and energy equipment. Donghai Securities believes that this energy saving and carbon reduction action plan will further strengthen supply constraints in the field of high energy consumption in the petrochemical industry. It is expected to boost the prosperity of some industries, ease pressure on overcapacity, and optimize the industrial pattern. Some leading companies are expected to benefit.
$BYD ELECTRONIC (00285.HK)$It rose by more than 30% this month and was included in the Hang Seng Index. The agency said it benefited from the sale of the new iPad.
Hang Seng Index Co., Ltd. announced that BYD Electronics will be included in the Hang Seng Index, Country Garden services will be removed from the Hang Seng Index, and all changes will be implemented after the market closes on June 7 and will take effect on June 11.
According to a report published by Citi, Apple has released a new generation of tablets iPad Air and iPad Pro, which are already on sale. This line indicates that the iPad Pro product specifications have been significantly upgraded, using Apple's most powerful M4 chip and a laminated OLED screen. Since the company did not launch a new iPad last year, it is expected that the new product will trigger the product cycle. I believe BYD Electronics is the main beneficiary.
Real estate agents$RADIANCE HLDGS (09993.HK)$It soared by nearly 83% in one day, with a cumulative increase of more than 40% during the month. All credit bonds issued on the open market have been settled.
Jinhui Holdings previously announced that the company has settled all credit bonds issued on the open market. According to information, in July 2023, Jinhui Holdings completed the liquidation of domestic credit debt. In addition to the payment of 300 million US dollars of foreign debt this time, all of the company's public bonds have already been paid.
On the other hand, the weakest performing stocks this month are as follows:
editor/tolk