On July 12th, Futu News reported that Hong Kong's three major stock indexes continued to rise in the afternoon, with Hang Seng Index up 2.59% and 461 points, returning to above 18,000 points, while H-Share Index and Hang Seng Tech Index rose 2.52% and 2.32% respectively.
At the close, 1,208 stocks in Hong Kong rose, 770 fell, and 1,098 were flat.
The specific industry performance is as follows:
In terms of sectors, large technology stocks collectively rose, with Meituan and JD.com up nearly 5%, Alibaba up nearly 4%, Tencent and Kuaishou up more than 3%, and Baidu up more than 2%.
Mainland real estate stocks rose across the board, with Shimao Group up more than 14%, Longfor Group up more than 8%, China Vanke up more than 5%, China Resources Land up more than 4%, and China Overseas up more than 3%.
Bank shares rose across the board, with CMB up nearly 5%, ICBC, ABC, and Bank of China up nearly 3%, and China Construction Bank up more than 2%.
Biopharmaceutical stocks strengthened, with Akeso up nearly 5%, Genscript Biotech and Beigene up more than 4%, Kexing Biotech up nearly 4%, and Wuxi Bio up more than 3%.
Sporting goods stocks rose, with Li Ning up more than 7%, Anta up more than 6%, Xtep up more than 4%, and Topsports up nearly 3%.
Marine transportation stocks were weak, with Cosco Ship Energy down nearly 4%, Cosco Shipping Holdings down more than 3%, and OOIL down more than 1%.
In addition, auto stocks continued to rise yesterday, and insurance stocks performed well, while golden industrial concept, Apple concept, semiconductor stocks, and coal industrial concept all fell slightly.
In terms of individual stocks,$MEITUAN-W (03690.HK)$Focus Media Information Technology, up nearly 5%, joined forces with Tencent's Kuaishou to enter the elevator media market, and the two companies will upgrade comprehensively.
$BABA-SW (09988.HK)$Apple supplier AAC Technologies, up nearly 4%, reportedly spotted Alibaba co-founder Jack Ma at its headquarters, and Morgan Stanley expects the company to be added to the Hong Kong Stock Connect scheme as early as September.
$LI NING (02331.HK)$Sport shoe and apparel company Li Ning, up more than 7%, is expected to benefit from the 'Olympic effect' and drive consumption.
$CM BANK (03968.HK)$China mainland banking stocks rose nearly 5%, with many banks announcing dividends, and the high dividend yield strategy drove the sector to rise this year.
$COSCO SHIP HOLD (01919.HK)$Shipping stocks fell more than 3%, with Cosco Ship Engy leading the decline, and analysts at Daiwa Securities said that Hamas's preliminary ceasefire proposal could put pressure on shipping stocks.
Today's top 10 Hong Kong stock turnover
Hong Kong Stock Connect Fund
As for the Hong Kong Stock Connect, there was a net inflow of 0.171 billion Hong Kong dollars today (northbound).
Institutional perspective
DBS has upgraded MTR Corporation to 'buy' rating with a target price of HKD 30.
Morgan Stanley released a research report stating that $MTR CORPORATION (00066.HK)$Morgan Stanley published a research report stating that it has positive expectations for HK00066's performance in the first half of the year, with expected earnings per share growth and stable dividends set to allow MTR to outperform most local developers. It also said its attractive valuation gave the stock a buy rating, with a target price of HKD 30. The bank predicts that MTR's underlying profit in the first half of the year will increase by 20% year-on-year to HKD 3.8 billion, and that recurring business profits are expected to increase by 18% to HKD 2.9 billion. It is expected that the mid-term dividend will remain at HKD 0.42 per share. This year, MTR is expected to have four property development projects completed involving 4,500 residential units, mainly in the second half of the year. DBS pointed out that since the government withdrew from the hot property market at the end of February, more than 2,500 of MTR's projects have been sold, and the prospects for property development profits are expected to improve. Due to strong inventory sales, it is currently expected that MTR's property development business profits for the first half of the year will increase by 28% year-on-year to HKD 900 million.
Citigroup has given Aluminum Corporation of China a 'buy' rating with a target price of HKD 7.88.
Citi released a research report giving a buy rating with a target price of HKD 25.5. The report predicted an increase in China's electrical utilities demand for this year from the previous growth rate of 6% to 7.5%, and next year's growth rate to 7%. The expected increase in demand for electrical utilities mainly comes from charging services, machinery and equipment manufacturing, rare earth metal smelting, as well as the development of artificial intelligence and electrified transportation related railroad transport industries. The anticipated higher demand for electrical utilities is expected to benefit power grid equipment suppliers to strengthen their capital expenditure and improve the utilization of coal-fired power plants. The preferred choices are Henan Pinggao Electric, Sieyuan Electric, and China Res Power.$CHALCO (02600.HK)$Rated as 'buy', with a target price of HKD 7.88. The company predicts that this year's mid-year net income will reach RMB 6.5 billion to 7.3 billion, a year-on-year growth of 90% to 114%, reaching 72% to 81% of the bank's full-year forecast and 71% to 80% of the market's general expectations, which is higher than expected. The bank predicts that Chinalco's net regular profit in the first half of the year will reach RMB 6.4 billion to 7.2 billion, a year-on-year growth of 122% to 150%, among which the second quarter net profit is expected to grow by 166% to 216% year-on-year, achieving RMB 4.3 billion to 5.1 billion, and quarter-on-quarter growth of 91% to 127%. Citigroup believes that Chinalco's significant profit growth in the first half of the year is mainly due to the average sales price increase of aluminum and alumina during the period, as well as the decrease in production costs, and looks forward to the profit margin of its aluminum smelting business may remain high for a long time and continues to be the preferred choice for mainland resource stocks.
Futu securities: Maintains Tencent's 'buy' rating, with a target price raised to HKD 484.
Futu securities released a research report stating that it maintains a 'buy' rating and unchanged forecast for an 8% growth in total revenue in the second quarter of this year, mainly based on the steady performance of its online games business and efforts to revitalize existing gaming businesses. The uncertainty of macro environment on payment and information technology spending has prompted the bank to adjust its assumptions for technology and business services, and raise its target price from HKD 480 to HKD 484.$TENCENT (00700.HK)$Rated as 'buy', with a target price of HKD 484.
Editor/Feynman