As of June 14th, Futu news reported that the three major Hong Kong stock indices fluctuated and closed down, with the Hang Seng Index down 0.94%, the Technology Index down 0.84%, and the National Index down 0.73%.
At the close of trading, 928 stocks rose, 968 stocks fell, and 1144 stocks remained unchanged.
The specific industry performance is as follows:
In terms of sectors, network technology stocks generally declined, with Meituan, Alibaba, and JD.com declining by about 2%, Xiaomi down about 1%, Netease and Kuaishou slightly down, and Tencent remaining unchanged.
Mainland real estate and property management stocks rose across the board, with Shimao Group up over 10%, China Xuhui Holdings up nearly 6%, Sunac up 5%, Longfor Group up over 4%, Sunac Services up over 3%, and China Vanke up over 2%.
Most auto stocks declined, with Geely down nearly 2%, BYD, NIO, Xpeng, and Li Auto down about 1%, while Lingpao surged nearly 9% against the trend.
China-affiliated brokerage stocks rose in the afternoon, with Haitong Securities up over 5%, GTJA and Orient Securities up over 4%, Swhy and China Galaxy up over 3%, and China International Capital Corporation up over 2%.
Shipping stocks performed well, with Cosco Shipping Port up nearly 5%, Cosco Shipping Holdings up nearly 3%, SITC and Sinotrans up over 2%, and Cosco Shipping Development up nearly 1%.
Pharmaceutical stocks fell across the board, with Zai Lab down over 6%, Tigermed and Wuxi Apptec down over 5%, WuXi Bio down over 4%, and Genscript Bio down over 3%.
In terms of individual stocks,$LEAPMOTOR (09863.HK)$AAC Tech surged nearly 9%, with year-on-year sales growth of 50.6% in May setting a new record, and new models scheduled to be launched in June.
$SMOORE INTL (06969.HK)$C.P. Lotus Corporation rose nearly 11%, with a total of 1.868 million shares purchased by the trustee for share incentive plans.
$TUHU-W (09690.HK)$Institutions are bullish on the continued demand for post-market autos, with the company's gross margin having ample room for improvement. The stock rose nearly 6%.
$SHIMAO GROUP (00813.HK)$Shimao Group rose over 10%, as local government purchase platforms reportedly plan to speed up the collection of commodity housing, and private real estate companies are expected to be included.
$CTG DUTY-FREE (01880.HK)$Hainan Island plunged nearly 4%, hitting a new low, with tax-free sales revenue during the Dragon Boat Festival holiday down by 20% year-on-year.
Today's top 10 Hong Kong stock turnover
Hong Kong Stock Connect Fund
Regarding the Hong Kong stock connect, there was a net inflow of 5.807 billion Hong Kong dollars from mainland China on this day.
Institutional perspective
Morgan Stanley reaffirmed its "outperform" rating for BYD Electronic, with a target price of HKD 41.
As reported in Morgan Stanley's research note,$BYD ELECTRONIC (00285.HK)$the valuation is still attractive, with a target price of HKD 41 and basic earnings forecast remaining unchanged. Since mid-April, the stock price has rebounded sharply, rising 62%, compared to a 12% increase in the Hang Seng index during the same period. The increase is believed to be due to the impact of Nvidia's artificial intelligence products, Apple's release conference, and the EU's implementation of increased tariffs on imported electric vehicles.
Goldman Sachs reaffirmed its "buy" rating for AAC Tech, raising the target price to HKD 38.2.
According to the research note from Goldman Sachs,$AAC TECH (02018.HK)$revenue forecasts from 2025-2027 were raised by 1%, due to the growth in revenue from smartphone camera and MEMS microphone businesses, driven by upgrading of pixel combinations and better specifications for smartphones. The bank raised operating expenses to reflect increased R&D expenses for new products,raised the target price by 13%, from HKD 33.8 to HKD 38.2, and maintained a "buy" rating.
CICC maintains a 'Bullish' rating on Greentown China with a target price of HKD 10.
CICC released a research report, maintaining a "outperform" rating on NIO (09866.HK), with a target price of HKD62. As of May, the company has delivered 20,544 vehicles, and its battery swapping system received a strategic investment of CNY1.5 billion from Wuhan Guangchuang Fund. The investment will be used to increase research and development of relevant technologies, as well as the layout and development of charging and swapping infrastructure. $GREENTOWN CHINA (03900.HK)$With a solid land reserve, improved operations, and a background of state-owned shareholders, we are bullish on its valuation regression opportunity in the sector's transition from policy bottom to fundamental bottom. The target price is HKD 10, and the earnings forecast for 2024-25 remains unchanged under the 'Bullish' rating. The company's stock price has fallen by about 15% from its high point since the sharp rise in late April, and the dividend yield for the next two years is 6.3%/6.0%.
Editor/tolk