Futu News on October 10th, the central bank creates convenient swap tools, policy benefits continue to be implemented, Hong Kong stocks regain momentum, the three major indexes stop the two-day decline, the national index soars by over 3%, Hang Seng Index rises by nearly 3%, and the Technology Index rises by over 2%.
As of the close, 1411 Hong Kong stocks rose, 776 fell, and 884 remained unchanged.
The specific industry performance is shown in the following figure:
Sector-wise, many technology and network stocks rose, with Meituan-W up 5.04%, JD.com-SW up 3.40%, Alibaba-W up 2.82%, Xiaomi-W up 1.93%, Tencent Holdings up 1.06%, NetEase-S down 0.94%, SenseTime-W down 0.57%, Kuaishou-W down 0.10%.
Mainland insurance companies strengthened, New China Life Insurance up over 10%, China Re up over 5%, China Pacific Insurance up over 6%, Ping An Insurance up nearly 6%, China Life Insurance up nearly 5%, and China Taiping up over 5%.
Mainland real estate stocks collectively rose, Sunac surged over 17%, Sino-Ocean Group up nearly 6%, China Vanke up nearly 7%, Longfor Group up nearly 7%, R&F Properties up nearly 5%, and CIFI Holding Group up nearly 4%.
Auto stocks rose, Geely Auto up over 9%, Xpeng up 8%, BAIC Motor up nearly 6%, Great Wall Motor up nearly 4%, Leapmotor up over 3%, Brilliance China up nearly 3%.
Coal industrial concept strengthened, Mongol Mining up 10.39%, Yancoal Australia up 8.82%, China Coal Energy up 7.92%, China Qinfa up 7.03%, China Shenhua Energy up 5.77%, Shougang Resources up 5.23%, Yancoal Aus up 3.85%, Kinetic Dev up 3.18%.
Stocks with high dividend concept surged, China Coal Energy rose nearly 8%, China Cinda rose over 7%, EB Environment rose nearly 7%, CNBM rose over 6%, China Shenhua Energy rose nearly 6%, CNBM rose over 6%.
Heavy infrastructure stocks generally rose, China Aluminum International Engineering Corporation rose by 19.02%, China Hongbao fell by 12.82%, China Railway Construction Corporation rose by 10.91%, China Communications Construction rose by 10.52%, Rongli Construction fell by 9.68%, China Railway rose by 8.97%, Metallurgical Corporation of China rose by 7.45%, China State Construction International rose by 6.24%.
Alcoholic beverage stocks have risen one after another, China Resources Beer rose by 10.42%, Gracewine rose by 5.68%, ZJLD rose by 5.26%, Dynasty Wines fell by 5.00%, Major Hldgs rose by 4.78%, Tsingtao Brewery rose by 4.36%, Wine's Link rose by 4.23%, Bud APAC rose by 3.30%.
In terms of individual stocks, $BABA-W (09988.HK)$ Up nearly 3%, China Galaxy maintains Alibaba's 'outperforming the industry' rating with a target price of HK$109.
$BIDU-SW (09888.HK)$ Up nearly 2%, Baidu's self-driving taxi service 'Apollo Fast Run' will enter Hong Kong, its first business outside the mainland market.
$TENCENT (00700.HK)$ Rising by over 1%, the company's gaming business is still doing well, with attention to follow-up macroeconomic boosts.
$CCB (00939.HK)$ Increasing by nearly 5%, the real estate coordination mechanism is yielding results, with multiple banks successively disclosing the progress of implementing the real estate financing coordination mechanism within the year.
$BYD COMPANY (01211.HK)$ Surging by over 4%, the DM5.0 platform production is accelerating, with Goldman Sachs raising its future two-year car sales forecasts.
$XPENG-W (09868.HK)$ Rising by 8%, the first AI car P7+ was released today, with delivery volume hitting a new high in September.
$NCI (01336.HK)$ Rising more than 10%, htsc raises the company's target price to 33 Hong Kong dollars, and expects a strong growth in net income for the first three quarters.
$HAITONG SEC (06837.HK)$ Surging more than 95%. $GTJA (02611.HK)$ Surging more than 55%, the "super giant" of the brokerage sector with over 1.6 trillion assets under management is making its move, as the merger of GTJA and Haitong Securities accelerates.
$CHINA VANKE (02202.HK)$ Increasing by nearly 7%, daily new home transactions surged by 503% as Chengdu's real estate market heats up during the 'golden week' of National Day.
$CHINA COAL (01898.HK)$ Rising nearly 8%, coal prices are expected to remain at high levels, with institutions stating that dividend leaders still have significant attractiveness.
TOP 10 trading volume today
Hong Kong Stock Connect Fund
Regarding the Hong Kong stock connect, the net inflow of Hong Kong stock connect (southbound) today amounted to 10.557 billion Hong Kong dollars.
Institutional perspective:
JPMorgan Chase: Chinese financial institutions prefer Bank of Communications and Ping An Bank as their top choices, followed by brokerages and mainland insurance companies.
JPMorgan Chase released a report stating a change in their stance towards mainland financial stocks, with a strong preference towards $CM BANK (03968.HK)$ and $Ping An Bank (000001.SZ)$ Based on high dividend preferences, they can provide downside support in case of disappointment in the market, and significantly increase earnings per share forecasts in case of exceeding expectations. Second preference for brokerages and mainland insurance companies, followed by large state-owned banks. The bank also sees expected management improvements by mainland government departments. If this trend continues and investors recognize these changes, it will significantly reduce the market's risk premium in the long term.
Citi: Haitong Securities may have significant upside potential, and potential mergers may boost market sentiment.
Citi Research Report indicates, $HAITONG SEC (06837.HK)$ Nvidia. $GTJA (02611.HK)$ The exchange ratio of the merger implies that Haitong's H shares and A shares each have approximately 30% upside potential and 2.2% downside risk. Nevertheless, the bank believes that the upside potential for Haitong Securities' H shares and A shares may be stronger than its static estimates because during Haitong Securities' suspension from September 6 to October 9, the brokerage industry's ratings increased significantly. It is expected that Haitong Securities' A shares and H shares will catch up, potentially boosting market sentiment for other potential mergers, benefiting China Galaxy, CICC, and GF Securities. According to the announcement, Haitong Securities will be privatized, delisted, and merged into GTJA.
大摩：维持友邦“增持”评级，预计第三季新业务价值按年上升16%。
摩根士丹利发表报告，预计 $AIA (01299.HK)$ 第三季新业务价值按固定汇率计按年上升16%，较上半年的25%升幅有所放缓，主要是由于某些市场的比较基数较高，但中国香港市场仍然是主要增长动力，料中国内地市场有望保持健康增长，东盟地区亦趋向稳定。大摩维持友邦“增持”评级，目标价为88港元。报告称，预计16%的新业务价值增长是由业务量增加以及利润率提升所推动，友邦旗下内地及香港的利润率或能继续改善，预计香港市场第三季新业务价值按固定汇率计将增长25%，以反映自去年第二季以来比较基数有所下降，以及在岸与离岸业务需求持续。
编辑/Wade
