Caixin Media News (edited by Hu Jiarong) Today, the three major indexes of Hong Kong stocks rose and fell. Although most of the main indexes rebounded briefly in the session, only the state-owned enterprise index received gains by the end of the session.

Note: Performance of HSI Enter.

As of the close, the Hang Seng Index fell 0.02% to close at 17109.14 points; the technology index fell 0.33% to close at 3384.38 points; the state-owned enterprise index rose 0.17% to close at 6035.27 points.

Today's Market

In terms of individual stock performance, stocks with high dividends such as coal, telecommunications and banks performed more prominently, and there was a certain rebound in the trend of game stocks.

The high-dividend related sectors strengthened, and the performance of coal stocks was at the forefront.

Among coal stocks, Nan Nan Res (01229.HK), China Shenhua Energy (01088.HK), and China Coal Energy (01898.HK) rose by 5.67%, 3.38%, and 2.59%, respectively.

Note: Performance of coal mining stocks.

From the above chart, China Shenhua Energy performed well. Some institutions pointed out that as the leading coal state-owned enterprise, the company has a strong profit stability based on a high proportion of annual long-term contract coal, and integrated operations of coal, electricity, and port routes. In addition to continued high dividends and potential incremental coal and power in the future, the valuation level is expected to continue to rise.

The institution believes that there is still a possibility for the company to increase the dividend payout ratio. Assuming the dividend payout ratio increases from 75.2% to 100%, the dividend yield is expected to increase from 5.62% to 7.48%.

In addition to coal stocks, telecommunications and banks, which are also high-dividend conceptual stocks, have shown some degree of increase today.

Taking telecommunications stocks as an example, China Telecom (00728.HK), China Mobile (00941.HK), and China Unicom (00762.HK) rose by 2.53%, 1.37%, and 1.29%, respectively.

Note: Performance of telecommunications stocks

Taking bank stocks as an example, Postal Savings Bank of China (01658.HK), CM Bank (03968.HK), and ICBC (01398.HK) rose by 2.16%, 2.16%, and 2%, respectively.

Note: Performance of bank stocks.

In terms of news, China International Capital Corporation believes that the medium- to long-term logic of dividend investment mainly has two aspects. On the one hand, in the current environment of low national bond yields, the dividend cash flow of high dividend stocks has certain appeal to steady funds and has the allocation value of partially replacing bond assets.

They also pointed out that on the other hand, public funds and other institutional investors represented by organizations pay more attention to changes in the profits of dividend stocks, so changes in the prosperity of dividend stocks also largely affect their allocation value.

Game industry rebounds, NetEase rose nearly 4% at one point.

Among game stocks, NetEase-S (09999.HK), iDreamSky (01119.HK), and Finger Movement (06862.HK) rose by 3.89%, 1.81%, and 1.47%, respectively.

Note: The performance of gaming stocks

In terms of news, Tencent released its Q2 2024 performance last night. Among them, the revenue of the online game business was 48.5 billion yuan, a year-on-year increase of 9% and a slight increase of 0.8% on a quarter-on-quarter basis.

Specifically, Q2 Tencent's gaming business achieved year-on-year revenue growth in both local and international markets, with particularly bright prospects in the local market.

Although Tencent's gaming business showed signs of rebound, its total revenue is still lower than expected, and the company's stock price did not rise on Thursday. As of the close, it fell 1.44% to HKD 368.4.

At the same time, Tencent's game business performance boosted the trend of other game stocks, and Netease's intraday rose nearly 5%. In terms of news, according to data previously released by Sensor Tower, the download volume of Netease's mobile game, Eternal Abyss, on the Apple iOS system in the Chinese market reached 4.14 million in the first two weeks, which is comparable to Tencent's Dungeon and Warriors mobile game at its first release.

Southbound funds.

Today, the net southbound capital resumed buying, with an amount of 6.635 billion Hong Kong dollars. Since the beginning of this year, the cumulative net purchase is about HKD 420.8 billion.

Note: The performance of southbound funds since the beginning of this year.

News and fluctuations in individual stocks.

Samsonite fell nearly 9%, and institutions lowered its target price to HKD 55.1.

Samsonite (01910.HK) fell 8.94% and closed at 19.26 Hong Kong dollars. In terms of news, the company released its mid-term performance for 2024, with sales net income of USD 1.7685 billion, a year-on-year decrease of 0.4%; the net profit attributable to equity holders was approximately USD 0.164 billion, a year-on-year increase of 7.7%; and the basic earnings per share were 0.113 USD, with no interim dividend.

In response to this, CICC released a research report stating that the brokerage lowered Samsonite's target price from HKD 33 to HKD 27 and maintained an 'outperform' rating, because they believe that the valuation is not high. The bank expects that the company's short-term operating pressure still exists and still regards the US secondary listing as a catalyst for revaluation.

Qifu Technology-S rose more than 9%, and net income increased by 25.26% year-on-year in the first half of the year.

Qifu Technology- S (03660.HK) rose by 9.12% and closed at HKD 92.15. CICC released a research report stating that Qifu Technology's non-GAAP net income exceeded the bank's previous expectations in the second quarter, mainly benefiting from improved asset quality, decreased funding costs, and optimized customer acquisition efficiency.

CICC also pointed out that Qifu Technology announced a dividend of USD 0.6 per ADS in the first half of this year, and has repurchased a cumulative total of 10.7 million ADS from the beginning of 2024 to August 13, 2024, with a repurchase amount of approximately USD 0.211 billion. The bank believes that under stable operation and high shareholder returns, the company's valuation will see a repair.