Afternoon review of Hong Kong stock market

Topic 558 news 13301 Subscribers

Hong Kong stocks remained sluggish all day, with the technology index falling more than 2.6%; network technology and apple supplier concepts collectively declined, Meituan, BYD Electronic fell more than 4%.

Futu News · Oct 24 16:29

富途资讯10月24日消息，港股全天低迷，三大指数午后跌幅均扩大，恒指收跌逾1%，科指收跌逾2.6%失守4500大关，国指收跌近1.6%。

截至收盘，港股上涨545只，下跌1447只，收平1080只。

具体行业表现如下图：

板块方面，科网股走弱，商汤-W跌4.22%，美团-W跌4.05%，快手-W跌3.93%，阿里巴巴-W跌3.24%，京东集团-SW跌3.02%，网易-S跌2.31%，腾讯控股跌1.45%，小米集团-W跌1.17%。

内房板块下跌，融信中国跌近9%，富力地产跌近6%，融创中国跌超6%，中梁控股跌超5%，旭辉控股集团跌超4%，龙湖集团跌近4%，华润置地跌超3%。

生物技术股走低，云顶新耀-B跌4.84%，药明康德跌3.85%，百济神州跌3.51%，金斯瑞生物科技跌3.16%，药明生物跌2.37%，康方生物跌2.31%，宜明昂科-B跌2.04%，巨子生物跌0.64%。

苹果概念股多数下跌，富智康集团跌超5%，瑞声科技跌近6%，丘钛科技跌超4%，高伟电子跌超5%，比亚迪电子跌超4%，伟仕佳杰跌3.75%，舜宇光学科技跌近3%，通达集团涨超1%。

互联网医疗股走低，阿里健康跌4.73%，京东健康跌3.50%，平安好医生跌3.26%，众安在线跌2.73%，叮当健康涨1.67%，麦迪卫康收平。

酒精饮料股走弱，王朝酒业跌5.97%，华润啤酒跌4.07%，珍酒李渡跌3.54%，西藏水资源涨2.94%，百威亚太跌1.88%，青岛啤酒股份跌1.46%，百利达集团控股跌0.99%，美捷汇控股收平。

物业服务及管理股多股下行，华润万象生活跌3.95%，绿城管理控股跌3.75%，融创服务跌3.59%，万物云跌3.37%，碧桂园服务跌2.96%，雅生活服务跌2.56%，中海物业跌2.49%，保利物业跌2.32%。

个股方面，$腾讯控股 (00700.HK)$ 跌超1%，腾讯回应2万多名员工将搬迁系谣言。

$美团-W (03690.HK)$ 跌超4%，知名基金经理朱红裕减持美团等部分互联网行业个股。

$融创中国 (01918.HK)$ 跌超6%，10月房地产销售数据或同比改善，政策效果持续性仍有待观察。

$药明康德 (02359.HK)$ 跌近4%，医保谈判拟于下周在北京开展，调整结果将于下月公布。

$华住集团-S (01179.HK)$涨超2%，小摩料其三季度收入增长有望胜预期。

$上海电气 (02727.HK)$跌近7%，公司称A股股票交易异常波动，不存在未披露重大事项。

$中广核矿业 (01164.HK)$跌超9%，AI推动科技巨头入局核电，美国核电业主等待大选结果出炉。

今日成交额TOP10

港股通资金

港股通方面，今日港股通（南向）净流出4.69亿港元。

机构观点：

里昂：上调比亚迪电子目标价至40.6港元，预计第三季业绩稳健。

里昂发表研究报告指，预计 $比亚迪电子 (00285.HK)$ 2024财年第三季业绩稳健，净利润料按年跌3%，按季升64%至14.9亿元。该行解释，预期按年下跌主要由于储能系统(ESS)及Android金属外壳业务强劲，导致2023财年同期基数较高。里昂将比亚迪电子2024财年盈利预测小幅上调1%至43.6亿元，同时将其目标价由38.4港元上调至40.6港元，重申“跑赢大市”评级。

摩根大通：不建议第三季业绩公布前追入信义光能及福莱特玻璃。

摩根大通发表报告指出，其所覆盖的中国太阳能股昨日(23日)平均上升6%，相对于同期沪综指升1%。美国可能撤销某些类型中国太阳能产品出口的双反关税，提升市场情绪，但该行预期实际影响可能轻微。对于国家工信部的潜在政策干预，该行认为采取某些政策行动的可能性并不高，因过去未曾看到来自监管机构对行业的直接干预，但亦不排除未来的有关可能。该行并不建议第三季业绩公布前追入 $信义光能 (00968.HK)$ 及 $福莱特玻璃 (06865.HK)$ ，评级均为“中性”。

大摩：日均成交暂时反弹支持港交所第三季盈利增长，目标价为223港元。

摩根士丹利发表研究报告指，受惠日均成交暂时反弹， $香港交易所 (00388.HK)$ 第三季纯利按年升7%，符合该行预期，并超出市场预期达3%，主要动力为期内日均成交按年急升21%。该行对港交所的目标价为223港元，评级“减持”，认为以市净率计该股估值仍高企，考虑到可预见的降息和尚待改善的IPO管道，这可能会对其收入增长造成压力。

编辑/Wade

Futu News on October 24th reported that the Hong Kong stock market was sluggish all day, with the three major indices widening their losses in the afternoon. The Hang Seng Index fell more than 1%, the Technology Index fell more than 2.6%, breaking below the 4500 mark, and the National Index fell nearly 1.6%.

As of the close, 545 stocks in Hong Kong rose, 1447 fell, and 1080 remained unchanged.

The specific industry performance is shown in the following figure:

In terms of sectors, network technology stocks weakened. SenseTime-W dropped by 4.22%, Meituan-W dropped by 4.05%, Kuaishou-W dropped by 3.93%, Alibaba-W dropped by 3.24%, JD.com-SW dropped by 3.02%, Netease-S dropped by 2.31%, Tencent Holdings fell by 1.45%, Xiaomi-W dropped by 1.17%.

Real estate sector declined, Ronshine China fell nearly 9%, R&F Properties fell nearly 6%, Sunac fell over 6%, Zhongliang Holdings fell over 5%, CIFI Holdings Group fell over 4%, Longfor Group dropped nearly 4%, China Resources Land fell over 3%.

Biotechnology stocks trended lower. CStone Pharma-B dropped by 4.84%, Wuxi Bio dropped by 3.85%, Beigene fell by 3.51%, Genscript Bio fell by 3.16%, Wuxi Bio fell by 2.37%, Akeso fell by 2.31%, IniHygiene-B fell by 2.04%, Juzi Bio dropped by 0.64%.

Most Apple supplier stocks declined. Fih dropped over 5%, AAC Tech dropped nearly 6%, Q Tech dropped over 4%, Cowell dropped over 5%, BYD Electronic dropped over 4%, Vstecs fell by 3.75%, Sunny Optical dropped nearly 3%, Tongda Group rose over 1%.

Internet healthcare stocks declined. Ali Health fell by 4.73%, JD Health dropped by 3.50%, Ping An Good Doctor dropped by 3.26%, Za Online fell by 2.73%, Dingdang Health rose by 1.67%, Medipharco remained unchanged.

Alcoholic beverage stocks weakened, Dynasty Wines fell by 5.97%, China Resources Beer fell by 4.07%, ZJLD fell by 3.54%, Tibet Water Resources rose by 2.94%, Bud APAC fell by 1.88%, Tsingtao Brewery fell by 1.46%, Palinda Group fell by 0.99%, Major Holdings remained unchanged.

Property services and management stocks mostly declined, China Resources Mixc fell by 3.95%, Greentown Management fell by 3.75%, Sunac Services fell by 3.59%, VSTecs fell by 3.37%, CG Services fell by 2.96%, A-Living fell by 2.56%, China Overseas Property fell by 2.49%, Poly Property Services fell by 2.32%.

In terms of individual stocks,$TENCENT (00700.HK)$ Falling by more than 1%, Tencent responds to rumors that over 0.02 million employees will relocate.

$MEITUAN-W (03690.HK)$ Dropping by more than 4%, well-known fund manager Zhu Hongyu reduces holdings in some internet-related stocks such as Meituan.

$SUNAC (01918.HK)$ Dropped more than 6%, real estate sales data for October may improve year-on-year, the sustainability of the policy effect still needs to be observed.

$WUXI APPTEC (02359.HK)$ Dropped nearly 4%, medical insurance negotiations are scheduled to be held in Beijing next week, with the adjustment results to be announced next month.

$HWORLD-S (01179.HK)$Rose more than 2%, Morgan Stanley expects its third-quarter revenue growth to exceed expectations.

$SH ELECTRIC (02727.HK)$Dropped nearly 7%, the company stated that there was abnormal volatility in A-share stock trading, and there were no undisclosed significant matters.

$CGN MINING (01164.HK)$Falling by over 9%, AI is driving tech giants to enter the nuclear power sector, while American nuclear power operators are waiting for the election results.

TOP 10 trading volume today

Hong Kong Stock Connect Fund

Regarding the Hong Kong Stock Connect, there was a net outflow of 0.469 billion Hong Kong dollars in the Hong Kong Stock Connect (southbound) today.

Institutional perspective:

Lyon: BYD Electronic's target price has been raised to HK$40.6, with expectations of steady performance in the third quarter.

Lyon has released a research report, forecasting $BYD ELECTRONIC (00285.HK)$ In the third quarter of the 2024 financial year, the performance was stable, with a expected 3% year-on-year decrease in net income, and a 64% increase from the previous quarter to 1.49 billion yuan. The bank explained that the expected annual decline was mainly due to the strong performance of the Energy Storage System (ESS) and Android metal casing business, leading to a higher base in the same period of the 2023 financial year. Citigroup slightly raised its profit forecast for BYD Electronic in the 2024 financial year by 1% to 4.36 billion yuan, while raising its target price from HK$38.4 to HK$40.6, reiterating a "outperform" rating.

JPMorgan: Not recommending to chase Xinyi Solar and Flat Glass before the announcement of the third quarter performance.

JPMorgan issued a report stating that the average increase of Chinese solar stocks it covers rose by 6% yesterday (23rd), compared to a 1% increase in the Shanghai Composite Index during the same period. The United States may revoke anti-dumping duties on certain types of Chinese solar products for market sentiment, but the bank expects the actual impact to be minimal. Regarding potential policy interventions by the Ministry of Industry and Information Technology, the bank believes that the likelihood of taking certain policy actions is not high given that there has been no direct intervention by regulatory authorities in the industry in the past, but it does not rule out the possibility in the future. The bank does not recommend chasing before the announcement of the third quarter performance. $XINYI SOLAR (00968.HK)$ Nvidia. $FLAT GLASS (06865.HK)$ Ratings for Xinyi Solar and Flat Glass, are both rated as "neutral".

HSBC: Daily average trading volume rebound supports the profit growth of the Hong Kong Stock Exchange in the third quarter, with a target price of HK$223.

Morgan Stanley published a research report stating that the daily average trading volume rebounded temporarily. $HKEX (00388.HK)$ In the third quarter, net income rose by 7% year-on-year, meeting the bank's expectations and exceeding market expectations by 3%, primarily driven by a 21% year-on-year surge in daily average trading volume. The bank's target price for HKEX is 223 Hong Kong dollars, with a 'shareholding' rating. They believe that the stock is still highly valued based on the price-to-book ratio, considering foreseeable interest rate cuts and the yet-to-improve IPO pipeline, which may put pressure on its revenue growth.

编辑/Wade

The translation is provided by third-party software.

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