Futu News reports on November 29 that the three main indices of the Hong Kong stock market surged and then pulled back in the afternoon, with the technology index's gain narrowing to 1%, having risen nearly 3% in the morning. The Hang Seng index and the China enterprises index both closed slightly higher. As of the close, $Hang Seng Index (800000.HK)$ up 0.29%, $Hang Seng TECH Index (800700.HK)$ it rose by 1.06, $Hang Seng China Enterprises Index (800100.HK)$ and rose by 0.32%.
As of the close, 1240 stocks in Hong Kong rose, 689 fell, and 1159 remained unchanged.
The specific industry performance is shown in the following figure:
In terms of sectors, aviation companies saw a faster recovery in domestic supply and demand for domestic flights in August, with passenger traffic reaching the highest monthly level this year. Relaxing access may optimize the route structure. Looking ahead to the fourth quarter, the landing of vaccines during the year is a high-probability event. As domestic aviation demand continues to recover, aviation companies will continue to reduce losses. The favorable oil prices and exchange rates will provide advantages, and the aviation sector will also usher in both valuation and profit restoration. I recommend investors to actively allocate related stocks in the Hong Kong stock market, such as Meilan Airport (00357), Air China Limited and other related symbols.
Tech stocks rose, with bilibili-W increasing by 2.55%, Meituan-W decreasing by 2.03%, Kuaishou-W rising by 1.69%, jd.com-SW up by 1.13%, baidu group-SW up by 1.06%, alibaba-W up by 0.30%, tencent down by 0.50%, and xiaomi group-W down by 0.36%.
Casino and gaming stocks rose, with sands china ltd increasing by 4.42%, galaxy ent up by 4.07%, sjm holdings rising by 3.40%, wynn macau gaining 3.36%, nagacorp up by 3.02%, mgm china increasing by 2.20%, dynam japan rising by 1.87%, and melco int'l dev up by 0.84%.
Securities and brokerage stocks increased, with china merchants rising by 6.61%, holly futures up by 4.91%, csc gaining 3.57%, china galaxy increasing by 3.37%, htsc up by 2.92%, china international capital corporation rising by 2.89%, haitong sec gaining 2.67%, and gtja increasing by 1.58%.
Semiconductor stocks generally rose, with semiconductor manufacturing international corporation increasing by 3.38%, solomon systech rising by 3.16%, shanghai fudan up by 3.10%, ingdan down by 2.92%, hua hong semi rising by 2.49%, hg semi increasing by 1.72%, contel gaining 1.05%, and ce huada tech up by 0.79%.
Sporting goods stocks generally rose, with yue yuen ind increasing by 4.07%, china dongxiang up by 2.82%, 361 degrees rising by 2.31%, li ning gaining 2.31%, anta sports up by 1.79%, xtep int'l rising by 1.74%, topsports increasing by 0.83%, and eagle nice closing flat.
Biotechnology stocks strengthened, with beigene increasing by 5.40%, wuxi xdc up by 3.96%, wuxi apptec rising by 2.95%, wuxi bio gaining 2.32%, giant bio increasing by 2.15%, genscript bio down by 1.64%, akeso down by 0.54%, and genting star-B down by 0.29%.
In terms of individual stocks,
$KINGSOFT CLOUD (03896.HK)$In the closing hours, the stock surged over 8%, with the company announcing the launch of its ninth-generation cloud server, and institutions are optimistic about the company's operating profit margin turning positive next year.
$MNSO (09896.HK)$With a rise of over 8%, the third quarter performance disclosure is imminent, and the medium to long-term IP strategy is expected to drive the company's profitability.
$NANJING PANDA (00553.HK)$Closed up over 16%, with a trading volume exceeding 0.3 billion Hong Kong dollars.
$KINGDEE INT'L (00268.HK)$Up more than 4%, the trend towards ERP cloudification and localization is becoming inevitable, and the company is a leader in domestic ERP.
$AUTOSTREETS (02443.HK)$Down more than 6%, after the lifting of restrictions, the stock price has been halved, and the company's performance in the first half of the year is under pressure.
$SAMSONITE (01910.HK)$Up more than 3%, third-quarter performance was below expectations, and management stated that the fourth quarter showed month-on-month improvement.
$QUNABOX GROUP (00917.HK)$Up more than 10%, the stock price hit a new high since listing, and the company focuses on AI interactive marketing services.
TOP 10 trading volume today
Hong Kong Stock Connect Fund
In the southbound trading of Hong Kong Stock Connect, there was a net inflow of 3.278 billion Hong Kong dollars today.
Institutional perspective:
China Merchants Securities: The Hong Kong stock market still has significant upside potential.
China Merchants Securities believes that a comprehensive policy package is expected to successively stimulate the fundamentals of the Chinese economy within the next six months, which can support the Hong Kong stock market. Macroeconomic stability and a rebound in corporate profits are likely to attract more active long-term capital back to the market, meaning the Hong Kong stock market may still have significant upside potential. The leading technology stocks in Hong Kong have a cyclical recovery attribute and will benefit from long-term trends in AI, providing long-term allocation value. The internet sector's performance growth and overall valuation cost-effectiveness are still prominent, suitable for stable base asset allocation; temporarily supplemented by optical, semiconductors, automotive ADAS, and power tools as offensive categories.
gtja: The southbound funds continue to maintain net inflows, and there is still room for growth in the Hong Kong stock market.
GTJA released a research report stating that southbound capital continues to experience net inflows, with the scale of net inflows in November reaching the highest historical level in the past three years. The forward 12-month earnings forecast for the Hang Seng Tech Index continues to rise, and the expected reality on the molecular end is gradually stabilizing. Currently, Hong Kong stocks possess high cost-effectiveness for allocation, considering the subsequent improvement in overseas liquidity coupled with increased domestic policy measures, there is still room for the Hong Kong stock market.
Morgan Stanley: Relaxing travel visa issuance for Hong Kong and Macau has a slight positive effect on gambling stocks.
The National Immigration Administration announced that residents of Zhuhai City can apply for the "one trip per week to Macau" starting from January 1 next year; meanwhile, residents of the Hengqin Guangdong-Macao Deep Cooperation Zone can enjoy "multiple entries with one visa" to Macau. Morgan Stanley published a report, stating that these measures are moderately bullish for Macau casino stocks and should help residents of Zhuhai City and the Hengqin Guangdong-Macao Deep Cooperation Zone visit Macau more frequently. However, Zhuhai and the Hengqin Guangdong-Macao Deep Cooperation Zone are not the major contributors to Macau's gaming industry. The bank also believes this move may help stabilize industry sentiment, as this is the fourth "gift" from the central government to Macau this year, following earlier convenient measures for mainland residents to visit Macau.
Editor/rice
