Hang Seng Index was fluctuating today (18th), with the Dow Jones Industrial Average rising 0.5% but the Nasdaq gaining 1% the night before. At the time of writing, the yield on the US 10-year bond rose to 4.294%, and the US dollar index was at 105.53. Dow futures fell 8 points or 0.02%, while Nasdaq futures rose 0.2%. The Reserve Bank of Australia kept its benchmark interest rate unchanged at 4.35%, in line with expectations. The Shanghai Composite Index rose 14 points or 0.5% to close at 3,030 points, the Shenzhen Component Index rose 0.4%, and the total turnover of the Shanghai and Shenzhen stock markets exceeded RMB 737 billion.
The Hang Seng Index opened high by 25 points, rose 107 points to 18,043 points in the morning, then fell to 17,854 points, finally dropping 20 points or 0.1% to close at 17,915 points; the China Enterprises Index fell 5 points or 0.1% to close at 6,368 points; the Hang Seng Tech Index fell 12 points or 0.3% to close at 3,697 points. The total turnover of the market for the day was HKD 92.342 billion, with a net inflow of RMB 3.755 billion and 4.222 billion through southbound trading via the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connects.
The stock price of Hong Kong Exchanges and Clearing Limited (00388.HK) fell 0.5%. Hong Kong Exchanges and Clearing Limited will implement an arrangement for closing the market on days of severe weather from September 23, while the Gold & Silver Trading Affairs Bureau has agreed to an arrangement for closing the market without waiting for typhoon signal No. 8, believing that the arrangement is positive for the market.
Hong Kong Exchanges and Clearing Limited is slightly bearish, and the stock price of Netease, Inc. (網易, 09999.HK) fell.
Alibaba Group Holding Ltd-SW (09988.HK) fell 0.6% for the day, while Tencent Holdings Limited (00700.HK) and Meituan (03690.HK) fell 1.1% and 1.5%, respectively. The stock price of Netease, Inc. (09999.HK) fell 3.1% to close at HKD 140.7. Morgan Stanley pointed out that a survey of senior players (with more than 20 years of experience) found that Netease's adjustment to the computer version of "Dream of the Red Chamber" on September 21 resulted in a negative spiral.
The report attributed the devaluation of virtual currency to the closure of the system to restrict trade of high-value gaming items, resulting in reduced market liquidity within the game and causing many studios and merchants to exit the game, further damaging the emotions of loyal players. Since a significant portion of players earn income from the game, the value of virtual currency reflects the health of the game's ecosystem. The adjustment resulted in a decline in all four types of income, including the closure of the "Journey to the West" pocket version to reduce project supply and sales; the commission received from the game's market was affected; consumption of game time was reduced; and clothing trades within the game were affected.
AI concept is sought after, and Semiconductor Manufacturing International Corporation (00981.HK) and Huahong Semiconductor Limited (01347.HK) rose 3.2% and 3.8%, respectively. The stock price of handset components maker Sunwoda Electronic Co., Ltd. (02382.HK) rose 3.8%, as it will discuss the topic of edge-side artificial intelligence development at its investor day today. According to a report by Lyon, the company's investor day has attracted external attention and Lenovo, especially under the trend of industry profitability recovery and the emerging AI mobile phone theme. The bank estimates that the content presented by the company will focus on business fundamentals, and believes that the possibility of changing its shipment volume and profit margin guidance is small, leading to a "buy" rating and a target price of HKD 57.
The Hong Kong stock market has improved slightly today, with a ratio of 20 to 21 for the rise and fall of main board stocks (14 to 28 yesterday), and 34 constituentstocks in the Hang Seng Index rising and 44 falling, with a ratio of 41 to 54 for the rise and fall (32 to 65 yesterday). The market recorded a net short sale of HKD 14.969 billion for the day, accounting for 18.412% (18.907% yesterday) of the turnover of tradable shares.
The AI concept is sought after, with Semiconductor Manufacturing International Corporation (00981.HK) and Huahong Semiconductor Limited (01347.HK) rising 3.2% and 3.8%, respectively. The stock price of handset components maker Sunwoda Electronic Co., Ltd. (02382.HK) rose 3.8%, as it will discuss the topic of edge-side artificial intelligence development at its investor day today.
The report pointed out that the company's investor day has attracted external attention and Lenovo, especially under the trend of industry profitability recovery and the emerging AI mobile phone theme. The bank estimates that the content presented by the company will focus on business fundamentals, and believes that the possibility of changing its shipment volume and profit margin guidance is small, leading to a "buy" rating and a target price of HKD 57.