Futu news reported on December 2 that Hong Kong stocks fluctuated and rebounded in the afternoon, with all three major indices rising, the technology index leading with a 1.2% increase. By the end of trading, $Hang Seng Index (800000.HK)$ an increase of 0.65%, $Hang Seng TECH Index (800700.HK)$ Rises by 1.2%, $Hang Seng China Enterprises Index (800100.HK)$ an increase of 0.9%.
By the end of trading, 1,212 Hong Kong stocks rose, 775 fell, and 1,098 closed flat.
The specific industry performance is shown in the following figure:
In the sector, network technology stocks experienced a general rise, with bilibili-W up 3.76%, xiaomi group-W up 2.88%, netease-S up 2.75%, jd.com group-SW up 2.43%, kuai shou-W up 0.83%, tencent up 0.45%, alibaba-W up 0.42%, and meituan-W down 0.77%.
Apple supplier stocks rose, with byd electronics up 11.29%, cowell up 7.75%, q tech up 4.36%, aac tech up 4.29%, sunny optical up 3.49%, fih up 2.15%, and tk group hldg up 1.62%.
Hong Kong retail stocks rose, with bossini int'l up 5.32%, prada up 5.25%, samsonite up 3.57%, chow tai fook up 2.10%, giordano int'l up 1.21%, and luk fook hold up 0.55%.
Auto stocks saw an upward trend, with guangzhou automobile group up 25.17%, xiaopeng motors-W up 5.06%, geely autos up 4.04%, great wall motor up 3.20%, byd holdings up 2.44%, and leapmotor up 1.41%.
Lithium battery stocks all rose, with BYD Electronics up by 11.29%, honbridge up by 9.68%, BYD Company up by 2.44%, tianqi lithium corporation up by 1.31%, ganfenglithium up by 0.40%, and zhonganxin hang up by 0.33%.
Building materials stocks strengthened, with westchinacement up 8.55%, cnbm up 4.22%, sk target up 3.78%, huaxin cement up 3.15%, conch cement up 1.97%, bbmg corporation up 1.22%, cr bldg mat tec up 1.12%, and china lesso up 0.57%.
In terms of individual stocks,
$GAC GROUP (02238.HK)$Up over 25%, Guangzhou Automobile Group and Huawei deepen cooperation to jointly create a new high-end intelligent new energy vehicle brand.
$BILIBILI-W (09626.HK)$Up nearly 4%, Taobao's official live streaming sales channel has expanded to Bilibili, with GMV from Bilibili increasing by over 150% during Singles' Day sales.
$SH ELECTRIC (02727.HK)$Rising by over 14%, company A's A-share closed at the daily limit, as the company lays out its entire industry chain in robots.
$WEICHAI POWER (02338.HK)$Up nearly 4%, the year-end policy is expected to further reveal its stimulating effect on the heavy truck industry.
$CTG DUTY-FREE (01880.HK)$An increase of over 4%, with frequent bullish news coming out under the backdrop of the free trade port construction, the duty-free sales structure in Hainan is expected to change after the closure.
$TONGDAO LIEPIN (06100.HK)$An increase of over 17%, with net profit in the first three quarters growing by 1.26 times year-on-year, and user activity continuing to rise.
$BOYAA (00434.HK)$An increase of over 4%, the company completed the exchange of ethereum for bitcoin, with the price of bitcoin once again approaching $100,000.
$XPENG-W (09868.HK)$An increase of over 5%, the Xiaopeng Hui Tian flying car will kick off pre-sales in December.
$KINGSOFT CLOUD (03896.HK)$Surged over 10%, signed a global strategy cooperation agreement with hangzhou dbappsecurity co., ltd., and the adjusted EBITDA exceeded expectations in the third quarter.
TOP 10 trading volume today
Hong Kong Stock Connect Fund
In terms of the hong kong stock connect, today the net inflow of the southbound stock connect is 19.654 billion HKD.
Institutional perspective:
CICC: Hang Seng Index at 19,000 points still has support, but external uncertainties constrain the index's upward space.
CICC strategy released a research report indicating that due to the increase in domestic policy expectations and the decline of US Treasury rates and the dollar, the hong kong stock market ended the significant retreat of the previous two weeks last week. CICC strategy recently emphasized that the hang seng index around 19,000 points is key.ResistanceAfter touching this level, the market did rebound indeed. Compared to A-shares, Hong Kong stocks have experienced a greater pullback from the highs recently. This is because Hong Kong stocks are more sensitive to external disturbances like the 'Trump trade', and the change in sentiment from foreign investors is more intense than domestic investors. During the pullback, overseas funds once again flowed out, especially the fact that actively managed funds are further reducing their exposure to Chinese stocks also illustrates this point. In the short term, the Hang Seng Index at 19,000 points still has support, but the upside potential is equally limited when external uncertainties remain unresolved.
Therefore, in the short term, the market at this level can go neither up nor down, it could go up or down. If domestic policies unexpectedly exceed expectations in the short term, the market may intermittently surge, but from the perspective of long-term 'reality constraints,' it is advisable for investors to partially take profits and shift towards structure under such circumstances. However, the excessively strong policy expectations under 'reality constraints' are not realistic. 'Gradually positioning on the depressed left side, and moderately taking profits on the exuberant right side' to shift towards structure is still an effective strategy.
花旗：明年偏好防守型高股息率大型银行，首选建行和重商行
花旗发表研究报告指，明年是内银股本集资的重要一年，加上地缘政治风险及财政刺激政策效果或不明显，因此明年偏好防守型高股息率大型银行。花旗估计，六大内银在股本摊薄属一次性，此后在可见的将来不会再进行股本集资，因此。由于财政部依赖六大银行的股息偿还债务，因此预期六大银行的盈利增长平稳，且有稳定派息率。该行表示，内银H股首选 $CCB (00939.HK)$ 、 $CQRC BANK (03618.HK)$ 。
JPMorgan: Raised the target price of Meituan to 200 HKD, profitability remains strong.
JPMorgan released a report stating, $MEITUAN-W (03690.HK)$ It is one of the best-performing stocks among China's internet stocks this year, and still believes that its share price has room to rise in the next 6 to 12 months, mainly due to the continuously increasing monetization and the ongoing recovery of in-store and hotel business revenues. JPMorgan indicates that Meituan's profitability remains strong, predicting a 33% growth in adjusted earnings per share next year, which is 9% higher than market forecasts, and is also one of the fastest-growing companies within its coverage. The bank also believes that Meituan is one of the highest quality consumer goods and internet companies in China, maintaining a 'shareholding' rating, with the target price raised from 140 HKD to 200 HKD.
Editor/rice
