Futu news reported on December 4th that the Hong Kong stock market maintained a narrow fluctuation trend throughout the day, with the three major indices showing mixed performance. As of the close, $Hang Seng Index (800000.HK)$ down 0.02%, $Hang Seng TECH Index (800700.HK)$ down 0.32%, $Hang Seng China Enterprises Index (800100.HK)$ it rose by 0.18%.
As of the close, there were 841 stocks in Hong Kong rising, 1,077 falling, and 1,167 closing flat.
The specific industry performance is shown in the following figure:
In terms of sectors, network technology stocks generally fell, with bilibili-W down 4.46%, Kuaishou-W down 2.77%, jd.com-SW down 2.00%, alibaba-W down 0.53%, tencent down 0.30%, and Meituan-W down 0.18%.
Coal industrial concept stocks performed well, with china shenhua energy up 4.13%, china coal energy up 3.97%, kinetic dev up 2.88%, yankuang energy up 2.63%, mongol mining up 1.65%, china qinfa up 1.45%, shougang res up 0.37%, and yancoal aus up 0.32%.
Petroleum stocks strengthened, with petrochina up 3.20%, cnooc up 2.30%, sinopec corp up 2.13%, and kunlun energy up 1.19%.
Most building materials stocks fell, with cr bldg mat tec down 3.87%, cnbm down 2.60%, conch cement down 2.16%, and huaxin cement down 0.76%.
Photovoltaic power stocks mostly declined, with gcl tech down 4.79%, xinte energy down 4.68%, flat glass down 2.61%, xinyi solar down 2.00%, xinyi glass down 0.60%, and fuyao glass down 0.28%.
Alcoholic beverages stocks generally fell, with palinda group down 3.48%, bud apac down 1.86%, china res beer down 1.50%, zjld down 1.11%, and tsingtao brew down 0.60%.
In terms of individual stocks,$QUANTUMPH-P (02228.HK)$Surging over 26%, recently partnered with IDEA to launch an AI chemistry literature large model.
$MIDEA GROUP (00300.HK)$Increased nearly 5%, starting next week, will enter the hang seng tech index constituent stocks, and the company will gain control of Toshiba Elevator in China.
$TRIP.COM-S (09961.HK)$Increased over 2%, cumulative increase of about 92% this year, many ski resorts are booming, institutions point out that income growth is stable under a high base.
$EASOU TECH (02550.HK)$Decreased nearly 10%, three non-executive directors resigned, and a large amount of unlock will occur next Monday.
$DONGFENG GROUP (00489.HK)$Increased by over 7%, previously released domestically produced automotive-grade MCU chip DF30.
$MAANSHAN IRON (00323.HK)$Increased by over 6%, the controlling shareholder has cumulatively increased shareholding by 0.890% in the company's A-shares.
$ROBOSENSE (02498.HK)$Increased nearly 12%, with a cumulative increase of nearly 50% since November, driven by the volume launch of ADAS products leading to growth in gross margin.
$SINOHOPE TECH (01611.HK)$Increased by over 10%, with annual performance to be announced in mid-month, bitcoin's increase this year has already doubled.
$LOPAL TECH (02465.HK)$It fell nearly 6%, previously the stock price doubled due to being included in the Hong Kong Stock Connect list.
$CAROTE LTD (02549.HK)$It rose nearly 6%, as the company promotes an omnichannel layout and overseas supply chain, with rapid growth in domestic and international markets.
TOP 10 trading volume today
Hong Kong Stock Connect Fund
Regarding the Hong Kong Stock Connect, today there was a net outflow of 10.36 billion Hong Kong dollars.
Institutional perspective:
Daiwa Capital Markets: Preferring stocks benefiting from domestic demand or policy support, including Meituan, Mengniu, Tencent, and Trip.com into the "buy" list.
Daiwa Capital Markets published a report indicating that looking ahead, the firm expects the escalation of tensions between China and the United States with Trump's return to the White House, and Trump's inclination to raise tariffs could bring adverse factors. Therefore, the firm prefers stocks benefiting from domestic demand or policy support, and will $MEITUAN-W (03690.HK)$ 、 $MENGNIU DAIRY (02319.HK)$ 、 $TENCENT (00700.HK)$ Nvidia. $TRIP.COM-S (09961.HK)$ Included in the 'buy' list.
Regarding Meituan, the bank is bullish on the continuous expansion of its food delivery business market share, the increase in penetration rate of fresh e-commerce business, and the synergistic effects with core business and new measures; with a target price of 222 Hong Kong dollars.
As for Mengniu, the bank believes that the supply and demand of raw milk will reach a balance by the mid-2025, and the channel inventory situation will improve; with a target price of 23.5 Hong Kong dollars.
Regarding Tencent, the bank is bullish on the improvement in online advertising revenue from WeChat's video account, the approval of game licenses, and the cooperation between WeChat ecosystem and major internet platform operators; with a target price of 570 Hong Kong dollars.
As for Ctrip, the bank is bullish on its continued penetration of the domestic offline and lower-tier city travel markets with its online travel platform, the implementation of travel bubbles, and the expansion of outbound flights; with a listed in Hong Kong target price of 640 Hong Kong dollars.
Morgan Stanley: In November, the second-hand housing prices in major cities in the mainland slightly increased month-on-month, maintaining the view that the industry's performance meets expectations.
Morgan Stanley published a research report indicating that in November, the second-hand housing prices in major cities in the mainland slightly increased month-on-month, recording improvements for two consecutive months. It is expected that the reduction in listed properties and positive sales growth will continue to support housing prices in December. The firm believes that the rebound in asking prices for second-hand listings, the decrease in property supply, and the stable number of viewings are all leading indicators of improving consumer sentiment. Whether the market can continue to improve depends on how quickly and effectively the announced policies are coordinated and implemented, as well as whether the central government will provide sufficient funds to strengthen buyer confidence.
Morgan Stanley maintains its expectation for the performance of the domestic property industry, continuing to recommend that investors selectively increase their shareholding in the domestic property and consumer sectors, with stock selection including those that can provide about 6% dividend return. $CHINA RES LAND (01109.HK)$ Nvidia. $CHINA RES MIXC (01209.HK)$ , as well as $GREENTOWN CHINA (03900.HK)$ 、 $YUEXIU PROPERTY (00123.HK)$ Defensive state-owned enterprise developers.
CMB International: Reiterates "buy" rating on the gas industry, with TG Smart Energy and Kunlun Energy as top picks.
CMB International published a research report stating that although China's natural gas distributors underperformed the market again this year, the firm is optimistic for next year. Key positive factors include the potential decrease in upstream natural gas costs and further increase in retail residence natural gas prices, with the expectation that dollar profit margins will improve. CMB International indicated that while industry growth is slowing, natural gas sales will continue to grow. Although the number of new connections is expected to keep declining, the decline may narrow. Overall, the firm anticipates that profits for all natural gas companies covered will achieve positive growth next year, and most will provide at least a 5% dividend yield. Therefore, the firm reiterates its "buy" rating on the industry, with priority given to $TG SMART ENERGY (01083.HK)$ Nvidia. $KUNLUN ENERGY (00135.HK)$ 。
Editor/rice
