On July 3, Futu News reported that the three major Hong Kong stock indexes surged in early trading and maintained high-volatility in the afternoon, with a significant recovery in market sentiment. At the close, the Hang Seng Tech Index rose sharply by 2.48%, the best performance among the indexes, and the Hang Seng Index and the Hengqiang Index rose by 1.18% and 1.27% respectively. The Hang Seng Index once again surpassed the 18,000 point mark during trading hours.
At the close, 1145 stocks in Hong Kong rose, 765 fell, and 1155 were flat.
The specific industry performance is as follows:
In terms of sectors, network technology stocks rose, as Meituan rose more than 4%, Tencent, Kuaishou, and Baidu rose nearly 3%, and Alibaba and JD.com rose more than 2%.
Most new energy vehicle companies rose, as BAIC Motor rose nearly 7%, Li Auto rose more than 5%, and NIO Inc. rose more than 4%.
Mainland real estate stocks were strong, as Yue Xiu Property rose more than 7%, Longfor Group and China Vanke rose nearly 4%, and China Overseas and China Resources Land rose more than 3%.
Semiconductor stocks performed well, as Semiconductor Manufacturing International Corporation rose nearly 3% and Hua Hong Semiconductor rose nearly 2%.
Dining stocks rose more than fell, as Xiabu Xiabu rose more than 6%, Naixue's Tea rose nearly 5%, and Haidilao rose nearly 1%.
In other sectors, the gold stocks and telecommunication services showed a clear upward trend, while oil and gas stocks, insurance stocks, and biotechnology stocks rose slightly, and banking stocks and port and shipping stocks weakened.
In terms of individual stocks,$TENCENT (00700.HK)$CKH Holdings rose nearly 3%, with a total repurchase of more than HKD 52.3 billion in the first half of the year, and the half-year repurchase amount has exceeded the full-year amount of last year.
$SENSETIME-W (00020.HK)$PDD Holdings rose more than 17% and is about to release the "Daily New 5.5" large model, which is expected to accelerate the commercialization of AI.
$CTG DUTY-FREE (01880.HK)$China Duty-Free Market shares rose more than 12%, boosted by multiple positive news including an increase in tax-free quotas for Hong Kong and Macau travelers.
$CONCH VENTURE (00586.HK)$ASMPT shares rose nearly 13%, with institutions optimistic about the company's significantly improved dividend-paying ability and the potential for value reevaluation of equity assets.
$CHANGJIU HLDGS (06959.HK)$Li Auto Inc. plummeted nearly 33%, after being named by the Hong Kong Securities Regulatory Commission and with a large number of its shares set to be lifted.
Today's top 10 Hong Kong stock turnover
Hong Kong Stock Connect Fund
Regarding Hong Kong Stock Connect, the net inflow of southbound trading was HKD 3.642 billion today.
Institutional perspective
Citi: Focus on the 8 potential catalysts listed in the Third Plenary Session, starting with PDD Holdings, Li Ning and BYD.
According to a research report published by Citi, the Third Plenary Session of the year will be held from July 15 to 18, and exports and non-real estate infrastructure investment will remain the main driving force of the mainland China economy in the second half of the year. Citi expressed greater optimism about shares that could benefit from export growth and rising commodity prices, with PDD Holdings, Li Ning, and BYD being its top picks.$PDD Holdings (PDD.US)$, $ASMPT (00522.HK)$, $CHALCO (02600.HK)$, $TECHTRONIC IND (00669.HK)$, $MGM CHINA (02282.HK)$, $LI NING (02331.HK)$and$BYD COMPANY (01211.HK)$.
Morgan Stanley: Gives Geely Auto an "overweight" rating and a target price of HKD 11.2.
Morgan Stanley released a research report stating that despite the challenges facing the industry, it remains bullish on the company for the second half of the year, with sales targets raised from 1.9 million units to 2 million units for the full year, and with the trend of rising profit margins continuing.$GEELY AUTO (00175.HK)$The company's significant increase in the capacity of equity assets for dividends made institutions optimistic and conferred an "overweight" rating as well as a target price of 11.2 HKD. Geely is one of the few auto companies that can raise full-year sales expectations. Nonetheless, despite the continuous rise in the share of new energy vehicles, the trend of gross margin remains positive. The further cost reductions expected from the second quarter demonstrated the company's bargaining power, and will enable Geely to adopt more flexible pricing strategies in the second half of the year.
UBS Group: Raises second-half oil price forecast, still prefers "the three barrels of oil".
UBS released a report stating that Brent oil price remained at $83 per barrel in June. The bank raised its forecast for second-half oil prices: the third quarter oil price forecast was increased from $84 to $86 per barrel, and the fourth quarter oil price forecast was raised from $81 to $83 per barrel. The report pointed out that due to the seasonal rebound in oil demand and limited supply growth, there is expected to be a huge supply deficit of 1.4 million barrels per day in the third quarter, and it will fall to 0.5 million barrels per day in the first quarter of next year due to seasonal demand decline. In addition, on June 2nd, OPEC+ announced plans to gradually end voluntary production cuts, but UBS predicts that production levels will not resume until the second quarter of next year. UBS still prefers "the three barrels of oil" and recommends continuing to invest in them due to potential support from OPEC+ production cuts in the third quarter.$CNOOC (00883.HK)$, $PETROCHINA (00857.HK)$ and $SINOPEC CORP (00386.HK)$Because OPEC+ production cuts may support oil prices in the third quarter, please use your Futubull account to continue investing.
Editor/Feynman