FUTU Morning Post

Topic 1148 news 97414 Subscribers

Hong Kong market quick overview | Three major indexes closed lower, the Hang Seng Index fell below 0.02 million points; chip stocks and financial stocks declined, Semiconductor Manufacturing International Corporation fell nearly 9%; Golden Industrial Conc

Futu News · Jan 2 16:38

富途资讯1月2日消息，港股三大指数齐跌， $恒生指数 (800000.HK)$ 跌2.18%，$恒生科技指数 (800700.HK)$ 跌2.47%， $国企指数 (800100.HK)$ 跌2.73%。

截至收盘，港股上涨537只，下跌1529只，收平1031只。

具体行业表现如下图：

板块方面，科网股表现萎靡，商汤-W跌5.37%，京东集团-SW跌2.57%，百度集团-SW跌2.30%，快手-W跌1.93%，小米集团-W跌1.45%，阿里巴巴-W跌1.33%，美团-W跌0.73%，腾讯控股跌0.24%。

半导体股多股下行，宏光半导体跌10.45%，中芯国际跌8.81%，华虹半导体跌6.70%，上海复旦跌5.29%，晶门半导体跌5.05%，贝克微跌4.60%，中电华大科技跌3.20%，英诺赛科跌1.28%。

证券及经纪股走低，国联证券跌8.89%，招商证券跌7.25%，中国银河跌6.63%，中信建投证券跌6.52%，华泰证券跌5.79%，海通证券跌5.26%，国泰君安跌5.02%，中金公司跌4.68%。

互联网医疗股走低，京东健康跌6.05%，叮当健康跌5.00%，众安在线跌4.92%，阿里健康跌3.01%，平安好医生跌0.97%。

苹果概念股多股下行，富智康集团跌6.52%，比亚迪电子跌4.76%，舜宇光学科技跌4.36%，瑞声科技跌3.33%，伟仕佳杰跌2.88%，高伟电子跌1.77%，东江集团控股跌1.69%，丘钛科技跌1.39%。

酒精饮料股普跌，王朝酒业跌16.36%，华昱高速跌7.55%，百利达集团控股跌7.00%，华润啤酒跌3.96%，青岛啤酒股份跌3.70%，百威亚太跌3.47%，珍酒李渡涨0.88%。

个股方面，$梦金园 (02585.HK)$涨9.13%，公司全产业链布局，机构指其下沉市场扩张加盟仍有潜力。

$健康之路 (02587.HK)$再涨2.45%，总市值突破117亿港元。

$基石药业-B (02616.HK)$涨近6.52%，三抗新药已在澳大利亚递交临床试验申请。

$JS环球生活 (01691.HK)$涨超8.63%，小家电品类有望受益微信送礼 SN亚太业务进展积极。

$嘉和生物-B (06998.HK)$逆市涨9.83%，近日与亿腾医药宣布达成战略合并协议。

$老铺黄金 (06181.HK)$ 收涨9.54%，小摩将其列为行业首选。

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65.11亿港元。

机构观点

高盛：阿里售银泰及高鑫以专注核心业务及股东回报，予“买入”评级

高盛发报告指， $阿里巴巴-W (09988.HK)$ 近日宣布出售非核心线下零售业务—— $高鑫零售 (06808.HK)$ ，按每股最多1.75港元，最高所得款项总额为122.98亿港元。基于SOTP估值，该行予集团目标价131港元及“买入”评级。

高盛指，交易标志着继早前宣布出售银泰后的第二项重大非核心资产出售。两项资产在其SOTP估值中并不重要，高鑫零售和银泰业务均计入所有其他分部，对集团的利润贡献极小。

中金：高股息策略仍是2025年内银股交易的主要逻辑，推荐国有大行及招行

中金发表内银今年展望报告，预计今年内银业经营稳定，净息差压力有望减小(全年收窄约10至15个基点)，债务处置工作有助于资产负债表修复(净不良生成率平稳)，内地银行营收利润增长继续呈现稳定性。向前看，货币政策适度宽松，预计对称降息40至60个基点，降准亦有100个基点空间。

该行认为高股息策略仍是2025年内银股交易的主要逻辑，关注股息率的高低以及确定性，推荐国有大行、 $招商银行 (03968.HK)$ 。该行予 $建设银行 (00939.HK)$ 、 $农业银行 (01288.HK)$ 及 $工商银行 (01398.HK)$ “跑赢行业”评级，各予目标价8.91港元、5.09港元及7.11港元。

高盛：下调ASMPT目标价至100港元，维持“买入”评级

高盛发报告指，将 $ASMPT (00522.HK)$ 的目标价从108港元下调至100港元，维持“买入”评级，主要原因是先进的包装工具伴随着人工智能(AI)/高性能计算机系统(HPC)及高频宽存储器(HBM)需求增长。

高盛预计ASMPT第四季度收入36亿港元，同比增5%，按季增7%。

编辑/danial

Futu News, January 2, reports that the three major Hong Kong stock indices all fell, $Hang Seng Index (800000.HK)$ down 2.18%, $Hang Seng TECH Index (800700.HK)$ down 2.47%, $Hang Seng China Enterprises Index (800100.HK)$ down 2.73%.

As of the market close, there were 537 rising stocks, 1529 falling stocks, and 1031 stocks ending flat.

The specific industry performance is shown in the following figure:

In terms of sectors, Network Technology stocks performed poorly, with KUAISHOU-W down 5.37%, JD-SW down 2.57%, Baidu Group-SW down 2.30%, KUAISHOU-W down 1.93%, XIAOMI-W down 1.45%, Alibaba-W down 1.33%, MEITUAN-W down 0.73%, and TENCENT down 0.24%.

Many semiconductor stocks declined, with HG SEMI down 10.45%, SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION down 8.81%, HUA HONG SEMI down 6.70%, SHANGHAI FUDAN down 5.29%, SOLOMON SYSTECH down 5.05%, BEKE MICRO down 4.60%, CE HUADA TECH down 3.20%, and INNOCARE down 1.28%.

Securities and Brokerage stocks fell, with Guolian down 8.89%, China Merchants down 7.25%, China Galaxy down 6.63%, CSC down 6.52%, HTSC down 5.79%, HAITONG SEC down 5.26%, GTJA down 5.02%, and China International Capital Corporation down 4.68%.

Digital Health stocks declined, with JD HEALTH down 6.05%, DINGDANG HEALTH down 5.00%, ZA ONLINE down 4.92%, ALI HEALTH down 3.01%, and PA GOODDOCTOR down 0.97%.

Apple Supplier stocks saw many decline, with FIH down 6.52%, BYD ELECTRONICS down 4.76%, SUNNY OPTICAL down 4.36%, AAC TECH down 3.33%, VSTECS down 2.88%, COWELL down 1.77%, TK GROUP HLDG down 1.69%, and Q TECH down 1.39%.

Alcoholic Beverages stocks generally fell, with DYNASTY WINES down 16.36%, HUAYUEXPRESSWAY down 7.55%, PALINDA GROUP down 7.00%, CHINA RES BEER down 3.96%, TSINGTAO BREW down 3.70%, BUD APAC down 3.47%, and ZJLD up 0.88%.

In terms of individual stocks,$MOKINGRAN (02585.HK)$Up by 9.13%, the company has a complete industry chain layout, and Institutions indicate that there is still potential for expansion in the sinking market.

$HEALTHYWAY INC (02587.HK)$Another increase of 2.45%, with a total market value exceeding 11.7 billion Hong Kong dollars.

$CSTONE PHARMA-B (02616.HK)$Up nearly 6.52%, the new three-antibody drug has submitted a clinical trial application in Australia.

$JS GLOBAL LIFE (01691.HK)$Up over 8.63%, the small appliances category is expected to benefit from WeChat gift delivery and positive progress in SN Asia Pacific business.

$GENOR-B (06998.HK)$In a contrary market, it rose 9.83%, recently announcing a strategic merger agreement with Eton Pharmaceuticals.

$LAOPU GOLD (06181.HK)$ It closed up 9.54%, and JPMorgan has listed it as an industry favorite.

Today's transaction volume TOP10

Hong Kong Stock Connect funds

Regarding the Hong Kong Stock Connect, a net inflow of 6.511 billion Hong Kong dollars was recorded today.

Institutional perspective

Goldman Sachs: Alibaba's sale of Intime and Sun Art Retail to focus on core business and shareholder returns, with a 'Buy' rating.

Goldman Sachs issued a report stating, $BABA-W (09988.HK)$ Recently announced the sale of non-core offline retail business— $SUNART RETAIL (06808.HK)$ , at a maximum of HKD 1.75 per share, with a total maximum proceeds of HKD 12.298 billion. Based on SOTP valuation, the bank sets the group target price at HKD 131 and a 'Buy' rating.

Goldman Sachs noted that the transaction marks the second major non-core asset sale following the earlier announcement of the sale of Intime. The two assets are not significant in its SOTP valuation; Sun Art Retail and Intime's businesses account for all other segments, contributing very little to the group's profits.

China International Capital Corporation: The high dividend strategy still remains the main logic for trading China Mainland Banking stocks in 2025, recommending state-owned big banks and CM BANK.

China International Capital Corporation released a report on the outlook for domestic banking this year, expecting stable operations in the domestic banking industry with a reduction in net interest margin pressure (narrowing by about 10 to 15 basis points throughout the year). Debt disposal efforts will help repair the balance sheet (with a stable net non-performing loan generation rate), and revenue and profit growth in domestic banks will continue to show stability. Looking ahead, the monetary policy is moderately accommodative, with expected symmetrical interest rate cuts of 40 to 60 basis points and a reserve requirement ratio reduction of 100 basis points.

The firm believes that a high dividend strategy remains the main logic for trading domestic banking stocks in 2025, focusing on the level and certainty of dividend yield, recommending state-owned large banks. $CM BANK (03968.HK)$ The firm assigns. $CCB (00939.HK)$ 、 $ABC (01288.HK)$ and $ICBC (01398.HK)$ The rating is "Outperform the Industry", with target prices of HKD 8.91, HKD 5.09, and HKD 7.11.

Goldman Sachs: Downgrades ASMPT's target price to HKD 100, maintains "Buy" rating.

Goldman Sachs issued a report stating that $ASMPT (00522.HK)$ the target price has been lowered from HKD 108 to HKD 100, maintaining a "Buy" rating, primarily due to the growth in demand for advanced packaging tools alongside AI / High-Performance Computer Systems (HPC) and High Bandwidth Memory (HBM).

Goldman Sachs expects ASMPT's revenue in the fourth quarter to be HKD 3.6 billion, a year-on-year increase of 5% and a quarter-on-quarter increase of 7%.

Editor/danial

The translation is provided by third-party software.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.