Futu Info reported on June 13th that Hong Kong's three major indexes rose again in the afternoon and rebounded. The Hang Seng Technology Index finally closed up 1.3% and led the way, with the Hang Seng Index and the Enterprise Index both up 0.97% and 0.98%, respectively, all showing a "U"-shaped trend and maintaining their upward trend throughout the day.
At the close, 1088 stocks in Hong Kong rose, 814 fell, and 1120 remained flat.
The specific industry performance is as follows:
In terms of sectors, large-scale network technology stocks strengthened in the afternoon, with Bilibili up over 5%, Meituan up nearly 4%, Xiaomi and Tencent up over 2%, JD.com up nearly 2%, and Baidu up over 1%.
Apple concept stocks were strong throughout the day, with Q Technology up nearly 11%, FIH up over 6%, BYD Electronic and Sunny Optical Technology up over 3%.
Auto stocks rose across the board, with BYD Company up nearly 6%, Li Auto, Geely Auto, and NIO up over 1%.
In addition, tourism, dining, defense, and photovoltaic stocks have risen one after another. On the other hand, multiple negative factors have caused the gold price to weaken, leading nonferrous metals stocks to fall, and home appliances stocks to decline. Haier Smart Home and Hisense Home Appliances have both fallen, while most mainland real estate and property management stocks have experienced high opening and low closing trends.
In terms of individual stocks,$MEITUAN-W (03690.HK)$Futu Holdings rose nearly 4% in the afternoon, its $2 billion share buyback program demonstrating strong development confidence and strong visibility for its profitability.
$EAST BUY (01797.HK)$Shanxi Auto, a joint venture between Yu Minhong and Dong Yuhui, rose nearly 6% on its first day of trading, with GMV exceeding 60 million on the first day.
$CHINA VANKE (02202.HK)$NIO Inc. fell over 3% again, down more than 30% from its May high.
$MAOYAN ENT (01896.HK)$Maoyan Entertainment rose over 4%, with abundant reserves for the summer box office and expectations for the performance of the offline entertainment industry in the summer.
$EASOU TECH (02550.HK)$Li Auto Inc. rose more than 18% in the final moments, hitting a new high since its IPO and up nearly 220% from its offer price.
$HAIDILAO (06862.HK)$Haidilao rose nearly 4% in the final moments, with steady growth in company performance and institutions emphasizing shareholder returns through high dividends.
$SHENZHOU INTL (02313.HK)$Goldman Sachs raised its earnings and target price forecasts, bullish on the company's order outlook and profit margin recovery, raising the company nearly 3%.
Today's top 10 Hong Kong stock turnover
Hong Kong Stock Connect Fund
As for the Hong Kong stock through train, the net inflow of southbound funds was HKD 3.998 billion today.
Institutional perspective
BOCOM International: Potential EU tariffs have a controllable impact and are unlikely to hinder Chinese automakers' overseas expansion.
BOCOM International published a report stating that the temporary tariffs disclosed by the European Commission were slightly lower than expected by the market. The bank believes that carmakers with economies of scale and supply chain advantages remain competitive at a tariff of about 20%. However, smaller companies such as ...$NIO-SW (09866.HK)$, $XPENG-W (09868.HK)$... rely on Chinese production and then shipping to the European Union is more affected. The bank believes that the potential impact of EU tariffs is controllable and will not hinder Chinese automakers' overseas expansion.$BYD COMPANY (01211.HK)$, $GEELY AUTO (00175.HK)$ and $GWMOTOR (02333.HK)$Export layout is complete and overseas sales are expected to maintain growth.
Citi: Starts 30-day upward observation on BYD, with a target price of HKD 475.
Citi released a report stating that $BYD COMPANY (01211.HK)$Starting 30 days of upward observation, Citi believes that the EU tariff increase will slightly benefit BYD. The bank originally expected that the tariff would reach 30%, and it has improved BYD's export growth visibility in the second and third quarters of this year. According to the bank's analysis, even if the EU tariff is raised to 27.4%, BYD's business exporting to Europe can still achieve a net profit rate of 8.6% under the current production scale (assuming that 50% of the tariff increase will be borne by customers). The bank has a target price of HKD 475, a "buy" rating, and maintains its 2025 fiscal year net profit forecast of CNY 51.7 billion.
Goldman Sachs: Tencent and Netease are still preferred for mainland game stocks, focusing on new game performance.
Goldman Sachs published a research report pointing out that there are significant differences in the performance of mainland game stocks from the beginning of the year to the present, which is mainly due to different traditional game enhancement dynamics and different new game performances. The bank predicts that the mainland game market will still maintain intense competition for the rest of this year, especially during the summer. Goldman Sachs stated that $TENCENT (00700.HK)$and $NTES-S (09999.HK)$are still their preferred stocks in the game field. Goldman Sachs raised Tencent's target price to HKD 477 and set Netease's target price at HKD 196, both with a "buy" rating.
Editor/Emily