Afternoon review of Hong Kong stock market

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Hong Kong market quickly view | Hong Kong stocks fluctuated downward, the technology index fell more than 1%; some cryptos concept stocks rose against the market, Boyaa Interactive surged nearly 17%.

Futu News · Nov 21 16:26

富途资讯11月21日消息，港股震荡走低，三大指数齐跌，恒指跌逾0.5%，科指跌逾1%，国指跌近1%。

截至收盘，港股上涨669只，下跌1180只，收平1231只。

具体行业表现如下图：

板块方面，科网股下跌，快手-W跌11.70%，网易-S涨1.41%，美团-W跌1.20%，腾讯控股跌0.78%，小米集团-W涨0.54%，阿里巴巴-W跌0.41%，京东集团-SW涨0.29%，百度集团-SW跌0.18%。

部分加密货币概念股逆市拉升，蓝港互动涨逾54%，博雅互动涨近17%，OSL集团涨近2%。

地产发展商股普跌，富力地产跌9.42%，融创中国跌9.20%，万科企业跌2.60%，新城发展跌2.00%，龙湖集团跌1.41%，华润置地跌1.26%，中国海外发展跌1.16%，新鸿基地产跌0.32%。

医疗外包概念股下行，药明康德跌近3%，药明生物跌超2%，泰格医药跌近4%，康龙化成跌超3%。

苹果概念股表现亮眼，比亚迪电子涨4.96%，丘钛科技涨4.00%，东江集团控股跌1.10%，富智康集团跌1.05%，高伟电子跌1.03%，瑞声科技涨0.79%，舜宇光学科技跌0.70%，伟仕佳杰跌0.40%。

体育用品股多股下行，中国动向跌4.29%，滔搏跌2.80%，裕元集团跌1.76%，安踏体育跌1.73%，鹰美涨1.04%，特步国际跌0.93%，361度跌0.26%，李宁跌0.12%。

互联网医疗股多股下行，众安在线跌2.32%，阿里健康跌1.83%，叮当健康跌1.69%，平安好医生跌1.37%，京东健康跌1.04%，麦迪卫康收平。

个股方面， $贝壳-W (02423.HK)$ 跌近3%，贝壳今日将发布三季度业绩，机构预计公司三季度业绩或仍具一定压力。

$比亚迪电子 (00285.HK)$ 涨近5%，业内人士称锂电池价格将见底，预计明年有望回升。

$泡泡玛特 (09992.HK)$ 涨近5%，机构称对泡泡玛特IP热度及产品种类有信心，公司市值重回千亿港元。

$药明生物 (02269.HK)$ 跌超2%，公司非执行董事吴亦兵辞任，缪静雯获委任为非执行董事。

$华润置地 (01109.HK)$ 跌超1%，惠誉博华料内地短期房价调整压力仍大。

$博雅互动 (00434.HK)$涨近17%，前三季度纯利增长近150%，比特币价格逼近10万美元。

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46.66亿港元。

机构观点：

招银国际：上调携程目标价至71美元，内地业务增长动能较预期强韧。

招银国际发表研报指， $携程集团-S (09961.HK)$ 第三季收入按年升16%，较市场预期高2%，Non-GAAP经营利润则较市场预测高6%，主要受惠于销售与营销开支较预期低。不计入联属公司权益，Non-GAAP净利录54亿元，较市场预期高13%。招银国际认为，携程的内地业务增长动能较预期强韧，而海外业务复苏亦进展顺利，预期在国际市场拓展的增量投资应有助于提升长期收入和盈利，因此将目标价由65.8美元上调至71美元，维持“买入”评级。

建银国际：上调同程旅行目标价至22.8港元，旅游需求持续升温。

建银国际的研究报告指， $同程旅行 (00780.HK)$ 第三季业绩超出预期，预期第四季核心线上旅游代理(OTA)的增长势头将持续，这得益于酒店房晚和机票销售量的高双位数增长、稳定的酒店平均每日房价以及提高的收费比率该行将同程2024年至2026年的盈利预测上调各自4%，因为旅游需求持续升温，将目标价从20.5港元上调至22.8港元，维持“跑赢大市”评级。

大华继显：上调金山软件目标价至40港元，第三季业绩强劲且超预期。

大华继显发表报告，指 $金山软件 (03888.HK)$ 第三季业绩强劲，超出预期。收入按年升17.8%至29亿元人民币，超出市场预期。毛利率按年升3个百分点至84.2%，符合市场预期。非国际财务报告准则经营溢利12亿元，经营溢利率按年升20个百分点至41%，受益于强劲收入增长。该行维持对金山软件“买入”评级，目标价由38港元上调至40港元。

编辑/Wade

On November 21, Futu news reported that Hong Kong stocks fluctuated lower, with all three major indices falling; the Hang Seng Index dropped over 0.5%, the Tech Index fell over 1%, and the National Index declined nearly 1%.

At the close, 669 Hong Kong stocks rose, 1,180 fell, and 1,231 closed flat.

The specific industry performance is shown in the following figure:

In terms of sectors, network technology stocks fell, with Kuaishou-W down 11.70%, Netease-S up 1.41%, Meituan-W down 1.20%, Tencent down 0.78%, Xiaomi Group-W up 0.54%, Alibaba-W down 0.41%, JD Group-SW up 0.29%, and Baidu Group-SW down 0.18%.

Some crypto concept stocks rose against the market trend, with Linekong up over 54%, Boyaa up nearly 17%, and OSL Group up nearly 2%.

Real estate developer stocks fell broadly, with R&F Properties down 9.42%, Sunac down 9.20%, China Vanke down 2.60%, Seazen down 2.00%, Longfor Group down 1.41%, China Res Land down 1.26%, China Overseas down 1.16%, and SHK PPT down 0.32%.

Medical outsourcing concept stocks declined, Wuxi Apptec down nearly 3%, Wuxi Bio down over 2%, Tigermed down nearly 4%, and Pharmaron down over 3%.

Apple supplier concept stocks performed well, with BYD Electronics up 4.96%, Q Tech up 4.00%, TK Group Hldg down 1.10%, FIH down 1.05%, Cowell down 1.03%, AAC Tech up 0.79%, Sunny Optical down 0.70%, and Vstecs down 0.40%.

Many sporting goods stocks are down, with china dongxiang falling 4.29%, topsports down 2.80%, yue yuen ind down 1.76%, anta sports down 1.73%, eagle nice up 1.04%, xtep int'l down 0.93%, 361 degrees down 0.26%, li ning down 0.12%.

Many digital health stocks are down, with za online falling 2.32%, ali health down 1.83%, dingdang health down 1.69%, pa gooddoctor down 1.37%, jd health down 1.04%, and mai di wei kang remaining flat.

In terms of individual stocks, $BEKE-W (02423.HK)$ Falling nearly 3%, ke holdings will release its third-quarter performance today, and institutions expect the company's third-quarter performance may still face certain pressure.

$BYD ELECTRONIC (00285.HK)$ Rising nearly 5%, industry insiders say that lithium battery prices are expected to bottom out and are anticipated to rebound next year.

$POP MART (09992.HK)$ It rose nearly 5%, and institutions expressed confidence in the popularity and product variety of pop mart, with the company's market cap returning to 100 billion Hong Kong dollars.

$WUXI BIO (02269.HK)$ It fell over 2%, as the company's non-executive director Wu Yibing resigned, and Miao Jingwen was appointed as a non-executive director.

$CHINA RES LAND (01109.HK)$ It fell over 1%, as Fitch Bohua expects significant adjustment pressure on mainland property prices in the short term.

$BOYAA (00434.HK)$It rose nearly 17%, with net profit growth of nearly 150% in the first three quarters, and the price of bitcoin approaching 0.1 million dollars.

TOP 10 trading volume today

Hong Kong Stock Connect Fund

In terms of the Hong Kong Stock Connect, today the net inflow for the Southbound Stock Connect is 4.666 billion HKD.

Institutional perspective:

CMB International: Raised the target price for Trip.com to 71 USD, with stronger growth momentum in mainland business than expected.

CMB International stated in their research report, $TRIP.COM-S (09961.HK)$ In the third quarter, revenue increased by 16% year-on-year, 2% higher than the market expectation. The Non-GAAP operating profit was 6% higher than market forecast, mainly benefiting from lower-than-expected sales and marketing expenses. Excluding the share of profits from associates, Non-GAAP net profit recorded 5.4 billion yuan, 13% higher than market expectations. CMB International believes that Trip.com's growth momentum in the mainland business is stronger than expected, and the recovery of overseas business is also progressing smoothly. It is expected that incremental investments in international market expansion will help enhance long-term revenue and profitability. Therefore, the target price is raised from 65.8 USD to 71 USD, maintaining a "buy" rating.

Jianyin International: Raised the target price for Tongchengtravel to 22.8 HKD, as tourism demand continues to warm up.

Jianyin International's research report indicates that $TONGCHENGTRAVEL (00780.HK)$ the third quarter performance exceeded expectations, with the growth momentum of core online travel agency (OTA) in the fourth quarter expected to continue, thanks to high double-digit growth in hotel room nights and flight ticket sales, stable average daily room rates, and improved fee ratios. The bank has raised the earnings forecast for Tongcheng from 2024 to 2026 by 4% each, as travel demand continues to heat up, and raised the target price from HKD 20.5 to HKD 22.8, maintaining an 'outperform the market' rating.

Daiwa has raised the target price for kingsoft to HKD 40, with strong and better-than-expected performance in the third quarter.

Daiwa published a report, indicating that $KINGSOFT (03888.HK)$ the third quarter performance was strong and exceeded expectations. Revenue increased by 17.8% year-on-year to 2.9 billion yuan, surpassing market expectations. The gross margin rose by 3 percentage points year-on-year to 84.2%, in line with market expectations. Non-International Financial Reporting Standards operating profit was 1.2 billion yuan, with an operating profit margin increasing by 20 percentage points to 41%, benefiting from strong revenue growth. The bank maintains a 'buy' rating for kingsoft, raising the target price from HKD 38 to HKD 40.

编辑/Wade

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