Afternoon review of Hong Kong stock market

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Hong Kong Market Quick Take | The three major indices collectively fell, with brokerages and real estate stocks rising against the trend, China Jinmao surged 10%, citic sec rose nearly 6%.

Futu News · 16:27

富途资讯10月31日消息，港股三大指数小幅收跌，恒指、国指均收跌0.31%，科指收跌0.32%。

截至收盘，港股上涨913只，下跌1015只，收平1145只。

具体行业表现如下图：

板块方面，科网股下跌，小米集团-W涨2.69%，腾讯控股跌1.56%，网易-S跌1.43%，阿里巴巴-W跌1.36%，美团-W跌1.19%，快手-W跌0.65%，商汤-W涨0.65%，京东集团-SW跌0.26%。

内房板块上涨，中国金茂涨10%，融创中国涨超7%，建发国际集团涨超3%，中梁控股涨近4%，龙光集团涨近3%，万科企业涨超2%，旭辉控股集团涨近3%。

证券及经纪股齐涨，弘业期货涨5.71%，中信证券涨近6%，中国银河涨3.73%，招商证券涨3.43%，华泰证券涨3.12%，国泰君安涨2.15%，中金公司跌1.81%，中信建投证券涨0.98%，海通证券跌0.46%。

锂电池股多数下跌，比亚迪股份跌4.61%，赣锋锂业涨4.39%，比亚迪电子跌3.04%，洪桥集团涨2.25%，天能动力跌2.17%，天齐锂业涨1.96%，中创新航跌0.16%，超威动力收平。

汽车股多数下跌，吉利汽车跌5.27%，比亚迪股份跌4.61%，广汽集团跌4.21%，长城汽车跌3.89%，小鹏汽车-W涨2.27%，蔚来-SW跌2.23%，理想汽车-W跌1.10%，雅迪控股跌0.15%。

香港零售股上扬，普拉达涨7.49%，堡狮龙涨2.11%，莎莎国际涨1.49%，六福集团跌0.80%，周生生涨0.79%，新秀丽涨0.33%，周大福跌0.14%，佐丹奴国际收平。

酒精饮料股普跌，华润啤酒跌1.87%，百威亚太跌1.82%，王朝酒业涨1.54%，美捷汇控股涨1.40%，青岛啤酒股份跌0.99%，百利达集团控股涨0.93%，珍酒李渡跌0.81%，西藏水资源收平。

个股方面，$比亚迪电子 (00285.HK)$跌超3%，三季度纯利环比增超70%，同比仅增长1.1%。

$小鹏汽车-W (09868.HK)$涨超2%，P7+定档11月7日，分体式飞行汽车即将全球公开首飞。

$万科企业 (02202.HK)$ 涨超2%，万科公布数据显示今年第三季度公司实现营收771.2亿元。

$中信证券 (06030.HK)$ 涨近6%，交银国际维持中信证券“买入”评级，目标价上调至25港元。

$中芯国际 (00981.HK)$ 涨近2%，多家半导体设备企业三季报呈现稳增态势。

$蒙牛乳业 (02319.HK)$涨超3%，短期产业周期拐点渐近，公司有望受益于行业供需改善。

今日成交额TOP10

港股通资金

港股通方面，今日港股通（南向）净流入26.83亿港元。

机构观点：

花旗：上调比亚迪目标价至500港元，第三季业绩表现强劲。

花旗发表研究报告指， $比亚迪股份 (01211.HK)$ 第三季业绩表现强劲，电动车销量超乎预期，第三季自由现金流与净利润转换率为171%，经营性自由现金流分别按季及按年增长996%及165%，超出预期，继续列比亚迪为行业龙头，维持“买入”评级，相信明年首季销量及盈利能见度将高于同业，将目标价从488港元升至500港元。

大摩：赣锋锂业第三季业绩符合预期，碳酸锂价格疲弱或拖累股价。

摩根士丹利发表报告指出， $赣锋锂业 (01772.HK)$ 首三季亏损6.4亿元。该行认为公司第三季业绩符合预期。受累于锂价下滑，赣锋锂业第三季毛利率按季跌6.7个百分点至8.7%，毛利按季跌46%至3.79亿元。季内公司计入1.9亿元的资产减值损失。该行认为，尽管近期库存消化，但碳酸锂价格仍然疲弱，平均锂价于第四季至今按季跌5.6%，相对于第三季按季跌21%，或拖累赣锋锂业季内股价表现。该行对赣锋锂业H股目标价为19港元，评级“增持”。

高盛：友邦保险第三季新业务价值增长势头稳健，维持“买入”评级。

高盛发表报告，称 $友邦保险 (01299.HK)$ 第三季新业务价值在所有主要市场的增长势头稳健，维持“买入”评级，目标价93港元。高盛称，友邦第三季新业务价值超出该行及市场预期，所有主要市场保持稳健的增长势头，当中香港是增长最快的市场，受惠于本地市场及内地访客支持。至于内地业务方面，虽然面临高基数效应以及撤回部分高保证产品，内地业务仍录得按年9%的增长。

编辑/Wade

Futu News reported on October 31 that the three major Hong Kong stock indices closed slightly lower, with Hang Seng Index and HSI down 0.31%, and HK Tech Index down 0.32%.

As of the close, 913 Hong Kong stocks rose, 1015 fell, and 1145 remained unchanged.

The specific industry performance is shown in the following figure:

Sector-wise, network technology stocks declined, Xiaomi Corporation-W rose by 2.69%, Tencent dropped by 1.56%, Netease-S fell by 1.43%, Alibaba-W dropped by 1.36%, Meituan-W dropped by 1.19%, Kuaishou-W fell by 0.65%, SenseTime-W rose by 0.65%, JD.com-SW fell by 0.26%.

Real estate sector rose, China Jinmao surged by 10%, Sunac by over 7%, C&D Intl Group by over 3%, Zhongliang Hldg by nearly 4%, Logan Group by nearly 3%, China Vanke by over 2%, CIFI Hold GP by nearly 3%.

Securities and brokerage stocks rose across the board, Holly Futures surged by 5.71%, Citic Sec by nearly 6%, China Galaxy by 3.73%, China Merchants by 3.43%, HTSC by 3.12%, GTJA by 2.15%, CICC dropped by 1.81%, CSC rose by 0.98%, Haitong Sec dropped by 0.46%.

Most lithium battery stocks fell, BYD Company dropped by 4.61%, Ganfeng Lithium rose by 4.39%, BYD Electronic fell by 3.04%, Honbridge Int'l rose by 2.25%, Tianneng Power fell by 2.17%, Tianqi Lithium rose by 1.96%, Contemporary Amperex Tech dropped by 0.16%, Chaowei Power remained unchanged.

Most auto stocks declined, Geely Auto fell by 5.27%, BYD Company dropped by 4.61%, Guangzhou Automobile Group dropped by 4.21%, Great Wall Motor dropped by 3.89%, Xpeng-W rose by 2.27%, Nio Inc-SW fell by 2.23%, Li Auto-W dropped by 1.10%, Yadea fell by 0.15%.

Hong Kong retail stocks rose, with Prada up 7.49%, Bossini Int'l up 2.11%, Sa Sa Int'l up 1.49%, Luk Fook Hold down 0.80%, Chow Sang Sang up 0.79%, Samsonite up 0.33%, Chow Tai Fook down 0.14%, Giordano Int'l unchanged.

Alcoholic beverages stocks generally fell, with China Res Beer down 1.87%, Bud APAC down 1.82%, Dynasty Wines up 1.54%, Major Hldgs up 1.40%, Tsingtao Brew down 0.99%, Palinda Group up 0.93%, ZJLD down 0.81%, Tibet Water unchanged.

In terms of individual stocks,$BYD ELECTRONIC (00285.HK)$Dropped more than 3%, the net profit in the third quarter increased by more than 70% on a quarter-on-quarter basis, but only by 1.1% year-on-year.

$XPENG-W (09868.HK)$Rose more than 2%, P7+ is scheduled to be launched on November 7th, and the modular flying car is about to have its first global public flight.

$CHINA VANKE (02202.HK)$ Up more than 2%, Vanke announced that the company achieved a revenue of 77.12 billion yuan in the third quarter of this year.

$CITIC SEC (06030.HK)$ Rising nearly 6%, Bocom International maintains a "buy" rating on Citic Securities, with a target price raised to HK$25.

$SMIC (00981.HK)$ Rising nearly 2%, multiple semiconductor equipment companies have shown steady growth trends in the third quarter report.

$MENGNIU DAIRY (02319.HK)$Up more than 3%, the short-term industrial cycle turning point is approaching, the company is expected to benefit from the industry's supply and demand improvement.

TOP 10 trading volume today

Hong Kong Stock Connect Fund

Regarding the Hong Kong Stock Connect, today the net inflow of Hong Kong Stock Connect (Southbound) was 2.683 billion Hong Kong dollars.

Institutional perspective:

Citi: Raised BYD's target price to 500 Hong Kong dollars, strong performance in the third quarter.

Citigroup released a research report stating, $BYD COMPANY (01211.HK)$ Strong performance in the third quarter, electric vehicle sales exceeded expectations, free cash flow to net income conversion rate in the third quarter was 171%, operating free cash flow increased by 996% and 165% on a quarterly and annual basis, exceeding expectations. BYD continues to be recognized as an industry leader. The "buy" rating is maintained, believing that sales and profit visibility in the first quarter of next year will be higher than peers, raising the target price from 488 Hong Kong dollars to 500 Hong Kong dollars.

Morgan Stanley: Ganfeng Lithium's third-quarter performance met expectations, weak lithium carbonate prices may drag down stock prices.

Morgan Stanley's report pointed out, $GANFENGLITHIUM (01772.HK)$ In the first three quarters, there was a loss of 0.64 billion yuan. The bank believes that the company's third-quarter performance meets expectations. Affected by the decline in lithium prices, Ganfeng Lithium's gross margin in the third quarter fell by 6.7 percentage points to 8.7% on a quarterly basis, with gross profit down by 46% to 0.379 billion yuan. During the quarter, the company recorded an asset impairment loss of 0.19 billion yuan. The bank believes that despite recent inventory digestion, lithium carbonate prices remain weak, with the average lithium price falling by 5.6% from the third quarter to date, a 21% drop on a quarterly basis. This may drag down Ganfeng Lithium's stock performance during the quarter. The bank set a target price of 19 Hong Kong dollars for Ganfeng Lithium's H shares and rated it as "shareholding".

Goldman Sachs: AIA's new business value growth in the third quarter remains robust, maintaining a "buy" rating.

Goldman Sachs released a report, stating, $AIA (01299.HK)$ In the third quarter, new business value growth remained robust in all major markets, maintaining a "buy" rating with a target price of 93 Hong Kong dollars. Goldman Sachs stated that AIA's third-quarter new business value exceeded the bank's and the market's expectations, with all major markets maintaining strong growth momentum. Hong Kong was the fastest-growing market, benefiting from local market and mainland visitor support. As for the mainland business, despite facing a high base effect and withdrawing some high guarantee products, the mainland business still achieved a 9% year-on-year growth.

编辑/Wade

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