Futu News reported on November 27 that the Hong Kong stock market surged in the afternoon, with all three major indices collectively rising. The Hang Seng Index and the China Enterprises Index both rose by more than 2%, while the Hang Seng Tech Index surged over 3.6%.
As of the close, 1309 stocks in the Hong Kong stock market rose, 645 fell, and 1131 remained unchanged.
The specific industry performance is shown in the following figure:
In terms of sectors, network technology stocks showed strong increases. Meituan-W rose by 7.24%, JD.com-SW surged by 5.01%, Bilibili-W increased by 4.15%, Xiaomi-W went up by 4.04%, Netease-S rose by 3.10%, Tencent rose by 2.29%, Kuaishou-W increased by 2.14%, and Alibaba-W rose by 1.98%.
Semiconductor stocks performed well, with Shanghai Fudan up by 8.02%, HG Semiconductor rising by 7.69%, Hua Hong Semiconductor increasing by 5.05%, Solomon Systech up by 4.40%, Semiconductor Manufacturing International Corporation rising by 4.26%, CE Huada Tech increasing by 4.00%, and Sheen Tai falling by 3.57%.
Biotech stocks saw gains, with Kelun Botai Biopharmaceutical-B rising by 10.11%, Kojirenyao Pharmaceutical-B up by 7.73%, Yunding Xinyao-B increasing by 7.53%, Juzi Biotech rising by 7.24%, Beigene up by 7.21%, Wuxi Bio up by 3.50%, Lai Kai Medicine-B down by 1.68%, and Akeso increasing by 0.91%.
Securities and brokerage stocks rose, with China Merchants Securities up by 7.00%, Everbright Securities increasing by 5.91%, CITIC Securities by 4.66%, Orient Securities by 4.53%, China Galaxy up by 4.31%, China International Capital Corporation up by 4.15%, SWSH increasing by 3.91%, and Huatai Securities up by 2.79%.
Alcoholic beverage stocks advanced, with ZJLD rising by 5.70%, China Resources Beer up by 4.27%, Tsingtao Brewery up by 3.14%, Huayu Expressway rising by 2.35%, Bud APAC up by 1.62%, San Miguel HK rising by 1.08%, Major Hldgs remaining unchanged, and Dynasty Wines remaining unchanged.
Internet health care stocks rose together, with Za Online up 3.79%, Dangdang Health up 3.51%, JD Health up 2.96%, Ping An Good Doctor up 2.51%, and Ali Health up 2.22%.
In terms of individual stocks,$MEITUAN-W (03690.HK)$Rising by more than 7%, the company's third-quarter report is about to be disclosed, with institutions expecting its revenue to increase by 20% year-on-year.
$JD-SW (09618.HK)$Rising by more than 5%, third-quarter profits exceeded expectations, and institutions raised their full-year overall profit forecast.
$XIAOMI-W (01810.HK)$ Rising by more than 4%, Xiaomi announced it will independently develop chips and is expected to start mass production in 2025.
$BEIGENE (06160.HK)$ Rising more than 7%, the National Medical Insurance Administration will hold a press conference tomorrow to announce the adjustment results of the 2024 National Medical Insurance Drug Catalog.
$CMSC (06099.HK)$ Up by 7%, institutions believe that the improvement in market liquidity is beneficial to the brokerage sector, recommending to increase holdingMergerExpected top brokerage.
$BOYAA (00434.HK)$Rising more than 5%, the net profit for the first three quarters nearly doubled, the company is considering expanding its reserves of Bitcoin.
TOP 10 trading volume today
Hong Kong Stock Connect Fund
In terms of Hong Kong stock connect, there was a net inflow of 5.271 billion Hong Kong dollars from Southbound trading today.
Institutional perspective:
Bocom International: next year, it is recommended to adopt a balanced allocation strategy for Chinese financials, considering both flexibility and defensiveness.
Bocom International's report indicates that in terms of profit expectations, next year the securities industry > banking industry > insurance industry. In terms of valuation levels, the bank believes that the securities sector is approaching a reasonable level, the insurance sector remains significantly below historical average levels, and the banking sector still has undervalued, high dividend attributes. The bank recommends adopting a balanced allocation strategy, considering both flexibility and defensiveness. The insurance industry is recommended. $PING AN (02318.HK)$ and $CPIC (02601.HK)$ The banking sector focuses on state-owned banks and $CM BANK (03968.HK)$ The brokerage sector maintains a $CITIC SEC (06030.HK)$ and $HTSC (06886.HK)$ 's 'buy' rating.
Bernstein: By 2025, China's electric vehicle sales are expected to maintain strong growth, bullish on BYD and Ideal Auto.
Bernstein's report stated that the Chinese electric vehicle market is expected to continue growing strongly by 20% to 25% next year. Although there may be some setbacks in the short term after the government's cash-for-clunkers policy expires at the end of the year, competition in the Chinese market is still expected to be very intense, potentially putting pressure on pricing and profitability. Among electric vehicle manufacturers, Bernstein is bullish on, and maintains an 'outperform' rating. $BYD COMPANY (01211.HK)$ and $LI AUTO-W (02015.HK)$ , and maintains an 'outperform' rating.
Lyon: Raised Vitasoy International's target price to 9.6 Hong Kong dollars, with profit margin recovery as the main driver of midterm profit growth.
Lion issued a report stating, $VITASOY INT'L (00345.HK)$ By the end of September, the first half of the fiscal year saw a 2% annual increase in sales based on the reporting benchmark, while mainland sales remained roughly flat and Hong Kong sales rose by 3% year-on-year. Due to favorable declines in raw material prices and strict control over sales and distribution costs, its operating margin increased by 2.4 percentage points year-on-year. The company's goal is to achieve positive sales growth in the second half of this fiscal year, especially in the mainland, and to continue to expand the profit margin. Due to the current high valuation, the bank maintains a "hold" rating, with the target price raised from HK$6.9 to HK$9.6.
编辑/Wade
