On September 20th, according to Futu News, the three major Hong Kong stock indices surged significantly in the morning, with a slight narrowing of gains in the afternoon but overall demonstrating continued strength. By the close of trading, the Hang Seng Index and the national index both rose by over 1%, while the Hang Seng Tech Index rose by 1.43%. At one point during the session, it surged to 2.5%. All three major indices continued their consecutive gains, setting new highs in the recent rebound.
At the close, 1176 stocks in Hong Kong rose, 760 fell, and 1125 remained unchanged.
The specific industry performance is shown in the following figure:
In terms of sectors, most tech stocks rose. Alibaba-W increased by 1.75%, Meituan-W by 1.57%, Netease-S by 1.31%, JD-SW by 0.72%, Xiaomi-W by 0.40%, Baidu-SW by 0.18%, while Tencent Holdings edged down by 0.05%.
Automobile stocks showed strength throughout the day, with Geely Auto up 6.97%, Xpeng up 6.88%, and Li Auto up 2.88%.
Biomedical stocks rallied significantly towards the close, with WuXi AppTec up 11.70%, WuXi Biologics up 10.40%, Juzi Biotech up 4.16%, BeiGene up 3.36%, WuXi Hengshili Pharmaceutical up 3.06%, Yasheng Pharmaceutical-B up 3.05%, Pharmaron up 2.42%, while Hua Medicine-B down 0.28%.
Internet healthcare stocks rose across the board, with Alibaba Health up 5.02%, JD Health up 3.68%, Dingdang Health up 3.03%, Ping An Good Doctor up 1.64%, Za Online up 0.51%, and Meidi-Weikang remaining unchanged.
Sporting goods stocks rose together, with Li Ning up 4.77%, Anta Sports up 3.25%, Xtep International up 3.05%, Topsports up 2.54%, Pou Sheng International up 2.17%, Honma Golf up 2.10%, 361 Degrees up 0.61%, and Boasheng International unchanged.
Golden industrial concept stocks are generally on the rise, with Lingbao Gold up 5.65%, China Gold International up 4.03%, SD Gold up 3.92%, Zhaojin Mining up 3.57%, Zijin Mining Group up 2.84%, Ji Hai Resources up 1.41%, Chi Silver Group unchanged, and Tongguan Gold unchanged.
Casinos and gaming stocks are mostly up, with Sands China Ltd up 4.77%, Galaxy Entertainment up 3.14%, Nagacorp up 2.80%, Ponte 16 Resort down 2.04%, SJM Holdings down 1.56%, Wynn Macau up 1.17%, MGM China up 0.59%, and Melco Int'l Dev up 0.24%.
In terms of individual stocks,$CMOC (03993.HK)$Rising more than 4% in the afternoon, the concentrated release of demand stimulates molybdenum prices, and overseas rate cuts are expected to boost basic metals.
$PHARMARON (03759.HK)$Surging nearly 13% at the close, the net income attributable to the parent in the third quarter is expected to continue to improve.
$CR HOLDINGS (01911.HK)$Rising over 19% in the afternoon, the company has experienced frequent personnel changes with Qinchuan being promoted to director general.
$SINOSYNERGY (09663.HK)$Rising nearly 22% in the afternoon, the company participated in the construction of the first hydrogen-powered container ship, stating that capacity release requires a transitional period.
$3D MEDICINES (01244.HK)$The market declined by nearly 14% at the close, recently removed from the list of stocks eligible for trading under the Stock Connect scheme, with revenue in the first half of the year dropping by over 40%.
$MIDEA REAL EST (03990.HK)$Another increase of nearly 8%, institutions state that the performance is highly certain and the dividends are attractive.
$XIABUXIABU (00520.HK)$In the afternoon, the decline exceeded 11%, hitting a new low again. Institutions stated that the pressure faced by Xiabuxiabu is greater than other dining brands.
TOP 10 trading volume today
Hong Kong Stock Connect Fund
Regarding the Hong Kong Stock Connect, today the Hang Seng Tech Index (Southbound) saw a net inflow of 3.399 billion Hong Kong dollars.
Institutional perspective
Zhongjin Securities: It is expected that the retail performance of white appliances in September will be good. They are bullish on Haier Smart Home, Hisense Ha, and Gree Electric Appliances.
Zhongjin Securities released a report stating that in the online industry data, the domestic shipments of household air conditioners in August this year totaled 7.54 million units, a year-on-year decrease of 5.4%; while exports totaled 5.52 million units, a year-on-year increase of 31.5%. Zhongjin Securities predicts that the destocking of air conditioners is about to end, and domestic shipments are expected to increase year-on-year in the near future, with a positive outlook on the retail performance of white appliances in September. From 2023 to the first half of 2024, the export of home appliances will continue to improve, with overseas high temperatures in the summer of 2024 leading to air conditioner exports exceeding market expectations for several months. The bank believes that the current high growth in home appliance exports is driven by the increased demand in emerging market countries for large home appliances, as well as the gradual increase in market share of Chinese companies overseas. The long-term impact of these two factors is sustainable. The bank suggests increasing exposure to white appliances and recommends white appliances. $HAIER SMARTHOME (06690.HK)$ (With a target price of HK$33 for the H shares and RMB 32 for the A shares), $HISENSE HA (00921.HK)$ (With a target price of HK$27 for the H shares and RMB 32 for the A shares) and $Gree Electric Appliances,Inc.of Zhuhai (000651.SZ)$ (With a target price of RMB 50.64 for the A shares).
UBS: It is expected that the property prices in Hong Kong will stabilize or slightly rebound for the remainder of this year. They are bullish on Henderson Land, Kerry Properties, and SHK Properties.
UBS released a research report stating that the United States has officially entered an interest rate reduction cycle. Hong Kong banks subsequently announced a follow-up interest rate cut, reducing the most favorable Hong Kong dollar rate by 25 basis points, unexpectedly becoming a 'Mid-Autumn Festival gift' for the Hong Kong property market, bringing positive news. The interest rates for new first-hand residential mortgages will drop from 4.125% to 3.88%, helping to narrow the negative spread between mortgage rates and rental yields. Taking into account market forecasts for interest rate cuts in the U.S. over the next two years, UBS currently expects that by the end of next year, new mortgage rates in Hong Kong can drop to 2.9%, a further decrease of 97 basis points from the current 3.88%. Assuming that the most favorable Hong Kong dollar rate can be further reduced by 25 basis points this year, while rental yields remain at 3.5%, the bank predicts that Hong Kong residential properties should be at a neutral level by the end of this year, providing support for property market trading. UBS reaffirms its forecast of a 5% decline in Hong Kong property prices this year, indicating that property prices will stabilize or slightly rebound for the remainder of the year, expressing optimism. $HENDERSON LAND (00012.HK)$Please use your Futubull account to access the feature.$KERRY PPT (00683.HK)$ Nvidia. $SHK PPT (00016.HK)$ Developers may benefit.
Morgan Stanley: It is expected that Nio's stock price will rise in the next 15 days, with a target price of HK$47.4
Morgan Stanley's report indicates that it is expected $NIO-SW (09866.HK)$ The stock price is expected to rise in the next 15 days, with a probability of 70% to 80%. The bank has a target price of 47.4 Hong Kong dollars with a 'shareholding' rating. The bank believes that NIO's ONVO L60 (including the standard 60kWh battery) has a starting price of 0.2069 million yuan, which is 0.013 million yuan lower than the pre-sale price, while the BaaS model (excluding the 60kWh battery) is cheaper by 0.057 million yuan, with a selling price of only 0.1499 million yuan, surprising the market. Additionally, with an early bird cash discount of up to 4,000 yuan, and a local government subsidy of 0.01 million yuan for trade-ins, this indicates higher order conversion and sales expectations.
Editor/Emily
