On August 20th, Futu News reported that the three major Hong Kong stock indexes fell collectively, failing to continue the strong trend of the previous two days. At the close, the Hang Seng Index and the H-share index fell by 0.33% and 0.49%, respectively, while the Hang Seng Tech Index fell by 0.54%.
As of the midday close, 667 Hong Kong stocks rose, 1169 fell, and 1228 remained unchanged.
The specific industry performance is shown in the following figure:
In terms of sectors, network technology stocks showed mixed results, with Ke Holdings up 1.03%, Baidu Group up 0.99%, NetEase up 0.85%, Bilibili up 0.74%, JD.com down 0.18%, Meituan down 0.55%, Tencent down 0.59%, and Alibaba-SW down 1.29%.
Aviation/airline industry stocks rose against the market in the afternoon, with Air China up 3.25%, Meilan Airport up 1.63%, and Cathay Pacific Airways up 1.15%.
Auto stocks generally rose, with BYD Company up 1.54%, NIO Inc up 1.28%, and Li Auto Inc up 0.99%.
Coal industry stocks generally fell, with Yancoal Aus down 14.07%, Yankuang Energy down 7.20%, China Coal Energy down 1.35%, and China Shenhua Energy down 0.9%.
Shipping and ports stocks generally fell, with Qingdao Port International down 2.96%, COSCO Shipping Development down 2.13%, COSCO Ship Engy down 1.31%, and COSCO Shipping Holdings down 1.48%.
Petroleum stocks trended weakly, with PetroChina down 2.32%, CNOOC down 1.95%, and Sinopec Corp down 1.20%.
Mainland real estate stocks generally weakened, with Zhongliang Hldg down 8.00%, Shimao Group down 4.62%, China Vanke down 3.41%, and Yuexiu Property down 3.19%.
In terms of individual stocks,$GDS-SW (09698.HK)$GDS Holdings rose by over 9%, and tomorrow's earnings announcement is expected to meet the full demand for overseas demand for WIMI.
$XTEP INT'L (01368.HK)$Up more than 4%, the net profit for the first half of 2024 increased by 13.02% year-on-year to 0.752 billion yuan.
$ZJLD (06979.HK)$Up more than 4% before performance report, stock price hit new high in the month, Goldman Sachs called it one of the preferred liquor stocks.
$CTG DUTY-FREE (01880.HK)$Down more than 1% in the afternoon diving, tax-free sales in Hainan's outlying islands in July fell by 35.9% year-on-year.
$HUA HONG SEMI (01347.HK)$Down more than 3% currently, the major bank deemed that capital expenditure has increased while the space for ROE to grow is limited.
$YIHAI INTL (01579.HK)$Down more than 4% currently, it will release its interim report next week, and several major banks predict that the company's performance in the first half of the year will fall short of expectations.
$CHINA RES BEER (00291.HK)$Down nearly 6% after the performance report, the net profit attributable to shareholders for the first half of the year increased slightly year-on-year, and Nomura pointed out that its sales fell short of expectations.
$XIABUXIABU (00520.HK)$Down 10%, stock price hits historic low, the company expects revenue to be approximately 2.4 billion yuan in the first half of the year, a decrease of approximately 15.9% year-on-year.
$YANCOAL AUS (03668.HK)$Down more than 10%, the company's net profit after tax for the first half of the year was 0.42 billion Australian dollars, a year-on-year decrease of 57%, and no interim dividends will be distributed.
TOP 10 trading volume today
Hong Kong Stock Connect Fund
Regarding the Hong Kong stock connect, today the net inflow of southbound Hong Kong stock connect is 1.794 billion Hong Kong dollars.
Goldman Sachs: Lower China Resources Beer's target price to 43 Hong Kong dollars, and continue to list it as a convinced buyer.
Goldman Sachs released a research report stating that in the first half of this year, sales and pre-tax profits were consistent with the bank's expectations. The progress of the upgrade of the Run Beer product is better than that of the industry. In the first half of this year, the sales volume of high-end beer increased by more than 10% year-on-year, and the sales volume of second-tier or higher beer recorded unit growth. The bank also quoted the Run Beer management as saying that under a challenging macro environment, it aims to achieve positive net income growth this year. It is expected that sales trends will be better than the first half of the year in the second half of this year, and cost pressures are expected to ease, while sales and administrative expenditure management will be more stringent.$CHINA RES BEER (00291.HK)$Zhong Yin International: Maintains a Buy rating on ZTE, with a target price of HKD 22.17. Zhong Yin International released a research report stating that it maintains a Buy rating, and the company's non-communication business can maintain double-digit growth, offsetting the weakness of the communication business. It has downgraded its revenue forecast for the next two years by 3% and 2%, respectively, and its profit forecast has also been lowered by 3% and 7% to reflect the decline in gross margin. The corresponding target price has been reduced from HKD 27.4 to HKD 22.17. The bank pointed out that although the capital expenditure of mainland telecommunications companies has fallen, which has had a negative impact on ZTE's communication business, the company's non-communication business still recorded double-digit year-on-year growth.
Daiwa Securities has lowered its target price for Kingdee International to HKD 6.7 and reiterates its "outperform" rating. Daiwa released a research report indicating that the mid-term performance is generally in line with market expectations. Cloud service revenue increased by 17.2% year-on-year, and revenue from cloud products and subscription services from large enterprise customers had higher year-on-year recurring revenue growth than small enterprise customers. The cloud business losses were reduced during the period, and the management currently predicts that it may turn losses into profits in the second half of next year, which is in line with market expectations. The target price was lowered from HKD 7.1 to HKD 6.7 while maintaining an "outperform" rating.
CMB International released a research report stating that it maintains$ZTE (00763.HK)$Zhong Yin International released a research report stating that it maintains a Buy rating, and the company's non-communication business can maintain double-digit growth, offsetting the weakness of the communication business. It has downgraded its revenue forecast for the next two years by 3% and 2%, respectively, and its profit forecast has also been lowered by 3% and 7% to reflect the decline in gross margin. The corresponding target price has been reduced from HKD 27.4 to HKD 22.17. The bank pointed out that although the capital expenditure of mainland telecommunications companies has fallen, which has had a negative impact on ZTE's communication business, the company's non-communication business still recorded double-digit year-on-year growth.
Goldman Sachs released a research report stating that in the first half of this year, sales and pre-tax profits were consistent with the bank's expectations. The progress of the upgrade of the Run Beer product is better than that of the industry. In the first half of this year, the sales volume of high-end beer increased by more than 10% year-on-year, and the sales volume of second-tier or higher beer recorded unit growth. The bank also quoted the Run Beer management as saying that under a challenging macro environment, it aims to achieve positive net income growth this year. It is expected that sales trends will be better than the first half of the year in the second half of this year, and cost pressures are expected to ease, while sales and administrative expenditure management will be more stringent.
Daiwa published a research report stating that$KINGDEE INT'L (00268.HK)$Daiwa Securities has lowered its target price for Kingdee International to HKD 6.7 and reiterates its "outperform" rating. Daiwa released a research report indicating that the mid-term performance is generally in line with market expectations. Cloud service revenue increased by 17.2% year-on-year, and revenue from cloud products and subscription services from large enterprise customers had higher year-on-year recurring revenue growth than small enterprise customers. The cloud business losses were reduced during the period, and the management currently predicts that it may turn losses into profits in the second half of next year, which is in line with market expectations. The target price was lowered from HKD 7.1 to HKD 6.7 while maintaining an "outperform" rating.
Editor/ping