On November 8th, Futu News reported that the Hong Kong stock market experienced a top reversal, with all three major indexes falling. The Hang Seng Index and HSI Index both dropped by over 1%, while the GEM Index had a slight decline of 0.2%.
As of the close, 787 Hong Kong stocks rose, 1182 fell, and 1108 remained unchanged.
The specific industry performance is shown in the following figure:
In terms of sectors, network technology stocks declined, with NetEase-S down 5.61%, Meituan-W down 4.05%, Tencent down 1.77%, Alibaba-W down 1.73%, SenseTime-W down 1.72%, Xiaomi-W up 1.62%, JD.com-SW up 1.11%, and Kuaishou-W up 1.03%.
Mainland real estate stocks generally fell, with Sunac falling over 9%, Zhongliang Holdings down nearly 7%, Longfor Group down nearly 6%, China Jinmao down nearly 6%, Greentown China down nearly 5%, and China Vanke down nearly 4%.
Securities and brokerage stocks generally fell, with Citic Securities down nearly 6%, CSC down 5.45%, China International Capital Corporation down 4.34%, China Galaxy down 4.19%, HTSC down 4.16%, Swhy down 3.81%, GTJA down 2.30%, China Merchants down 1.96%, and Haitong Securities down 0.68%.
Coal industrial concept stocks generally fell, with China Coal Energy down 4.22%, Kinetic Dev down 3.18%, China Shenhua down 2.90%, Yankuang Energy down 2.29%, Mongol Mining down 2.26%, Shougang Resources down 2.05%, E-Commodities down 0.68%, and Yancoal Aus down 0.44%.
Property services and management stocks generally fell, with Wanwu Yun down 7.10%, Sunac Services down 4.17%, CG Services down 3.40%, Everg Services down 2.22%, Poly PPT Ser down 1.99%, A-Living down 1.42%, China OVS PPT down 1.28%, and China Res Mixc down 1.17%.
Heavy infrastructure stocks mostly fell, with Geotech Holdings up 33.33%, Yee Hop Holdings up 16.02%, China State Construction down 3.88%, China Comm Cons down 2.80%, China Railway Construction Corporation down 1.72%, China Aluminum International Engineering Corporation down 1.67%, Metallurgical Corporation of China down 1.65%, China Aluminum down 1.28%.
In terms of individual stocks, $BILIBILI-W (09626.HK)$ Up nearly 3%, Bank of America Securities expects Bilibili's third-quarter performance to exceed expectations, with a positive outlook for the fourth quarter.
$NIO-SW (09866.HK)$ Up nearly 4%, Nio Inc announced that its 58th battery swap station in Europe, located in Trodheim, Norway, has been put into operation.
$SUNAC (01918.HK)$ Down more than 9%, Sunac added information on more than 10 judgment debtors and executed judgments, with a total target amounting to over 0.47 billion yuan.
$LAOPU GOLD (06181.HK)$ Rising by nearly 5%, UBS Group maintains a 'buy' rating for old store gold, with a target price raised to 260 Hong Kong dollars.
$J&T EXPRESS-W (01519.HK)$Rising by nearly 5%, the company's profit inflection point is evident, with Citibank initiating a 'buy' rating.
$INNOVENT BIO (01801.HK)$Rising by nearly 4%, the company terminates controversial related agreements, with third-quarter product sales exceeding expectations.
TOP 10 trading volume today
Hong Kong Stock Connect Fund
On the Hong Kong Stock Connect side, the net outflow of Hong Kong Stock Connect (southbound) is 3.043 billion Hong Kong dollars today.
Institutional perspective:
Goldman Sachs: Raised Meituan's target price to 212 Hong Kong dollars, raised Pinduoduo's target price to 172 US dollars.
Goldman Sachs's research report indicates that with the mainland internet giants gradually announcing third-quarter results next week, most companies' revenue is expected to meet expectations, and investors will shift their focus to the fourth quarter guidance due to policy changes in mainland China at the end of September. The bank is bullish on large-cap industry companies, such as tencent, and e-commerce related sectors. $TENCENT (00700.HK)$ and subsidiaries of large market cap companies in the industry, such as Alibaba, and e-commerce affiliated sectors. $BABA-W (09988.HK)$Please use your Futubull account to access the feature.$JD-SW (09618.HK)$ The target price of Meituan has been raised from HK$194 to HK$212 with a 'buy' rating.
Goldman Sachs: Tencent's Q3 revenue is expected to increase by 7% year-on-year to 165.5 billion yuan, with game revenue expected to rise by 12% annually.
Morgan Stanley predicts, $TENCENT (00700.HK)$ In the third quarter, revenue is expected to increase by 7% year-on-year to 165.5 billion yuan, and non-IFRS net profit is expected to increase by 25% annually to 56.2 billion yuan, benefiting from the growth in operating surplus and subsidiary contributions. Game revenue is expected to rise by 12% annually, with turnover rising by about 20% annually, compared to a 23% increase year-on-year in the second quarter. In terms of fintech and enterprise services, the company is expected to benefit from WeChat Pay, Alibaba's Tmall, software as a service monetization, and the e-commerce ecosystem. The bank expects gross margin for the quarter to rise by 3.7 percentage points year-on-year to 53.2%, driving a 16% annual increase in non-IFRS operating surplus.
Goldman Sachs: Maintains a 'hold' rating on Xpeng, the P7+ is redefining AI cars with ambitious pricing.
Goldman Sachs releases a report indicating, $XPENG-W (09868.HK)$ P7+ is ambitiously redefining AI cars with a starting price of 0.1868 million yuan, which is surprisingly lower than the market forecast of 0.19 to 0.2 million yuan. The pricing of P7+ is on par with other comparable BEVs such as BYD's Han BEV, but it comes with stronger ADAS and intelligent features as standard. Morgan Stanley pointed out that now is the time for Xpeng to demonstrate its execution capabilities, looking forward to the market paying more attention to automotive gross margins and increasing supply. The bank has given it a "shareholding" rating with a target price of $17.
编辑/Wade
