Afternoon review of Hong Kong stock market

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Hong Kong stocks quick glance | Hang Seng Index closes up nearly 1%, network technology and shipping stocks rise throughout the day, Tencent up nearly 4%, cosco shipping holdings up nearly 8%.

Futu News · 16:26

富途资讯11月1日消息，港股三大指数涨跌不一，恒指、国指表现强势，恒指涨近1%，国指涨逾1%，科指午后由涨转跌，收跌逾0.3%。

截至收盘，港股上涨943只，下跌987只，收平1145只。

具体行业表现如下图：

板块方面，科网股多股上行，腾讯控股涨3.61%，美团-W涨2.79%，商汤-W跌2.56%，小米集团-W涨2.25%，京东集团-SW涨1.67%，快手-W涨1.09%，阿里巴巴-W涨0.48%，网易-S跌0.16%。

内房板块走高，华润置地涨超3%，中国海外发展涨超4%，中梁控股涨超3%，融创中国涨超3%，绿城中国涨超3%，世茂集团涨超2%，越秀地产涨超2%。

半导体股普跌，脑洞科技跌7.02%，上海复旦跌6.39%，中芯国际跌4.81%，华虹半导体跌4.58%，宏光半导体跌3.80%，晶门半导体跌3.51%，中电华大科技跌2.86%，芯智控股跌2.19%。

航运及港口股走强，中远海控涨7.97%，东方海外国际涨5.01%，海丰国际涨2.73%，招商局港口涨2.03%，德翔海运跌1.91%，太平洋航运涨1.87%，中国外运涨1.44%，中远海能跌0.13%。

手游股表现亮眼，中手游跌3.80%，腾讯控股涨3.61%，IGG跌1.94%，创梦天地跌0.97%，心动公司跌0.48%，哔哩哔哩-W涨0.29%，金山软件跌0.19%，网易-S跌0.16%。

有色金属股走强，金力永磁涨44.03%，洛阳钼业涨5.43%，中铝国际涨3.98%，中国铝业涨3.84%，江西铜业股份涨3.51%，中国宏桥涨3.51%，赣锋锂业涨3.50%，紫金矿业涨2.05%。

苹果概念股多数下跌，丘钛科技跌5.29%，舜宇光学科技跌3.65%，高伟电子跌3.11%，瑞声科技跌3.02%，比亚迪电子跌2.84%，通达集团涨2.13%，富智康集团跌1.11%，伟仕佳杰涨0.67%。

个股方面， $腾讯控股 (00700.HK)$ 涨近4%，瑞银指内地互联网板块估值仍被低估，野村升腾讯目标价4.6%。

$小米集团-W (01810.HK)$ 涨超2%，小米汽车10月交付量突破2万台，预计11月将提前完成10万台全年交付目标。

$京东集团-SW (09618.HK)$ 涨近2%，京东双十一成交额、订单量及下单用户数保持双位数增长。

$金沙中国有限公司 (01928.HK)$ 涨超5%，三季度业绩超预期，未来几年或能恢复派息并回购股份。

$信达生物 (01801.HK)$ 涨近4%，三季度总产品收入增超40%，子公司融资或引发治理方面担忧。

$上海复旦 (01385.HK)$跌超6%，前三季度净利同比下降三成，大摩指其订单能见度仍低。

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42.53亿港元。

机构观点：

美银：上调贝壳目标价至73港元，指风险回报已变得更具吸引力。

美银证券发表研究报告指， $贝壳-W (02423.HK)$ 是最近中国政策转变和潜在周期性复苏的主要受惠者。集团在优质细分市场中拥有高曝光率，且一手及二手市占率均在提升，因此预计在此次复苏及以长期来看，其将超越市场增长。美银认为贝壳的风险回报已变得更具吸引力，将集团目标价由62港元调升至73港元，评级由“中性”上调至“买入”，预计股息将会上升。

招银国际：上调比亚迪目标价至350港元，第三季毛利率为明年销售提供信心。

招银国际发表研报指， $比亚迪股份 (01211.HK)$ 今年第三季度毛利率超出预期，并为2024财年第四季及2025财年的销售提供信心。招银国际预计，比亚迪2025财年全年销量将按年升13%至455万架，毛利率将为20.3%(2024财年毛利率预测为20.6%)。该行将比亚迪H股目标价由262港元上调至350港元，维持“买入”评级。

摩根大通：维持邮储银行“增持”评级，第三季手续费增长转为正数。

摩根大通发表研究报告指， $邮储银行 (01658.HK)$ 第三季利润略低于摩通预测，但可能高于市场预期。期内，邮储银行利润按年增3%，较该行预期低3个百分点。不过，摩通指出，邮储银行第三季手续费增长转为正数，是自2023年第一季以来首次。拨备前经营利润按年增9%，同样转为正增长。该行维持邮储银行“增持”评级。

编辑/Wade

On November 1st, Futu News reported that the three major stock indices in Hong Kong showed mixed performances, with Hang Seng Index and State-owned Enterprise Index performing strongly. Hang Seng Index rose by nearly 1%, while the State-owned Enterprise Index increased by over 1%. The Technology Index turned from an increase to a decrease in the afternoon session, closing down by over 0.3%.

As of the close, 943 Hong Kong stocks rose, 987 fell, and 1145 remained unchanged.

The specific industry performance is shown in the following figure:

In terms of sectors, many internet technology stocks saw gains, with Tencent Holdings up by 3.61%, Meituan-W up by 2.79%, SenseTime-W down by 2.56%, Xiaomi Group-W up by 2.25%, JD.com-SW up by 1.67%, Kuaishou-W up by 1.09%, Alibaba-W up by 0.48%, and NetEase-S down by 0.16%.

Real estate sector saw increases, with China Resources Land up by over 3%, China Overseas Land & Investment up by over 4%, Zhongliang Holdings up by over 3%, Sunac China up by over 3%, Greentown China up by over 3%, Shimao Group up by over 2%, and Yuexiu Property up by over 2%.

Semiconductor stocks experienced a general decline, with Brainhole Tech down by 7.02%, Shanghai Fudan down by 6.39%, SMIC down by 4.81%, HH Semi down by 4.58%, HG Semi down by 3.80%, Solomon Systech down by 3.51%, CE Huada Tech down by 2.86%, and Smart-Core down by 2.19%.

Shipping and port stocks performed strongly, with COSCO Shipping Holdings up by 7.97%, OOIL up by 5.01%, SITC up by 2.73%, China Merchants Port up by 2.03%, Dexin Shipping down by 1.91%, Pacific Basin up by 1.87%, Sinotrans Limited up by 1.44%, and COSCO Ship Energy down by 0.13%.

Mobile game stocks showed impressive performances, with CMGE down by 3.80%, Tencent Holdings up by 3.61%, IGG down by 1.94%, iDreamSky down by 0.97%, XD Inc down by 0.48%, Bilibili-W up by 0.29%, Kingsoft down by 0.19%, and NetEase-S down by 0.16%.

Non-ferrous metal stocks strengthened, jl mag rare-earth rose by 44.03%, cmoc group limited rose by 5.43%, china aluminum international engineering corporation rose by 3.98%, aluminum corporation of china rose by 3.84%, jiangxi copper rose by 3.51%, chinahongqiao rose by 3.51%, ganfenglithium rose by 3.50%, zijin mining group rose by 2.05%.

Most of the apple supplier stocks fell, q tech fell by 5.29%, sunny optical fell by 3.65%, cowell fell by 3.11%, aac tech fell by 3.02%, byd electronic fell by 2.84%, tongda group rose by 2.13%, fih fell by 1.11%, vstecs rose by 0.67%.

In terms of individual stocks, $TENCENT (00700.HK)$ Rising nearly 4%, ubs group believes that the valuation of mainland internet sector is still undervalued, with nomura raising tencent's target price by 4.6%.

$XIAOMI-W (01810.HK)$ Rising over 2%, xiaomi autos delivered over 0.02 million units in October, and is expected to meet the annual delivery target of 0.1 million units in November ahead of schedule.

$JD-SW (09618.HK)$ Rising by nearly 2%, JD's Singles' Day sales turnover, order volume, and number of placed users all maintain double-digit growth.

$SANDS CHINA LTD (01928.HK)$ Surging by over 5%, the third-quarter performance exceeded expectations, and may resume dividends and share repurchases in the coming years.

$INNOVENT BIO (01801.HK)$ Increasing by nearly 4%, total product revenue in the third quarter grew by over 40%, while financing of subsidiaries may raise concerns in governance.

$SHANGHAI FUDAN (01385.HK)$Falling by over 6%, net profit in the first three quarters dropped by 30% year-on-year, with JPMorgan attributing this to low order visibility.

TOP 10 trading volume today

Hong Kong Stock Connect Fund

港股通方面，今日港股通（南向）净流入4.253 billion港元。

Institutional perspective:

美银：上调贝壳目标价至73港元，指风险回报已变得更具吸引力。

美银证券发表研究报告指， $BEKE-W (02423.HK)$ 是最近中国政策转变和潜在周期性复苏的主要受惠者。集团在优质细分市场中拥有高曝光率，且一手及二手市占率均在提升，因此预计在此次复苏及以长期来看，其将超越市场增长。美银认为贝壳的风险回报已变得更具吸引力，将集团目标价由62港元调升至73港元，评级由“中性”上调至“买入”，预计股息将会上升。

招银国际：上调比亚迪目标价至350港元，第三季毛利率为明年销售提供信心。

CMB International stated in their research report, $BYD COMPANY (01211.HK)$ In the third quarter of this year, the gross margin exceeded expectations, providing confidence for the sales in the fourth quarter of the 2024 fiscal year and the 2025 fiscal year. CMB International expects that BYD's full-year sales volume in the 2025 fiscal year will increase by 13% annually to 4.55 million units, with a gross margin of 20.3% (forecasted gross margin for the 2024 fiscal year is 20.6%). The bank has raised BYD's H-share target price from HKD 262 to HKD 350, maintaining a "buy" rating.

JPMorgan: Maintains a "shareholding" rating for Postal Savings Bank of China, with third-quarter fee growth turning positive.

JPMorgan stated in a research report that $PSBC (01658.HK)$ Third-quarter profits slightly below JPMorgan's forecast, but may exceed market expectations. During the period, Postal Savings Bank of China's profit increased by 3% year-on-year, 3 percentage points lower than the bank's expectation. However, JPMorgan pointed out that Postal Savings Bank of China's third-quarter fee growth has turned positive for the first time since the first quarter of 2023. Pre-provision operating profit increased by 9% year-on-year, also turning positive. The bank maintains a "shareholding" rating for Postal Savings Bank of China.

编辑/Wade

The translation is provided by third-party software.

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