On March 3, Futu News reported that the three major Hong Kong stock indices showed mixed results, $Hang Seng Index (800000.HK)$ Increased by 0.28%, $Hang Seng TECH Index (800700.HK)$ down 0.58%, $Hang Seng China Enterprises Index (800100.HK)$ up 0.03%.
By the close, there were 1,100 gainers, 915 losers, and 1,084 stocks closing flat.
The specific industry performance is shown in the picture below:
In terms of sectors, Network Technology stocks showed mixed results, Alibaba rose 2.27%, XIAOMI-W fell 1.74%, NTES-S fell 1.16%, JD-SW fell 1.00%, TENCENT rose 0.96%, MEITUAN-W rose 0.37%, KUAISHOU-W rose 0.30%, SenseTime-W fell 0.00%.
Photovoltaic Power stocks surged, with XINYI ENERGY rising 26.25%, XINYI SOLAR increasing 8.51%, FLAT GLASS up 4.05%, and XINTE ENERGY growing 7.25%.
Most Digital Health stocks rose, JD HEALTH rose 5.03%, MaiDiWeiKang fell 4.00%, ALI HEALTH rose 3.39%, PA GOODDOCTOR fell 0.76%.
Property Services and Management stocks performed well, WanWuYun rose 9.78%, CG SERVICES rose 8.11%, A-LIVING rose 4.86%, SUNAC SERVICES rose 1.82%, CHINA RES MIXC rose 1.70%, POLY PPT SER rose 1.60%, ART GROUP HOLD rose 1.59%, CHINA OVS PPT rose 0.39%.
Most semiconductor stocks fell, SHANGHAI FUDAN rose 9.09%, Semiconductor Manufacturing International Corporation fell 4.10%, INGDAN fell 3.87%, HUA HONG SEMI fell 2.62%, SOLOMON SYSTECH fell 1.82%, CE HUADA TECH fell 1.46%, InnoCare fell 0.28%.
Casinos and Gaming stocks strengthened, MELCO INT'L DEV rose 7.46%, WYNN MACAU rose 5.39%, SANDS CHINA LTD rose 2.81%, MGM CHINA rose 2.78%, GALAXY ENT rose 1.41%, SJM HOLDINGS rose 0.83%.
Sporting Goods stocks all rose, HONMAGOLF rose 4.85%, ANTA SPORTS rose 3.21%, TOPSPORTS rose 2.97%, YUE YUEN IND fell 2.52%, CHINA DONGXIANG rose 1.30%, XTEP INT'L rose 1.17%, LI NING rose 0.94%, 361 DEGREES rose 0.49%.
In terms of individual stocks,$MIXUE GROUP (02097.HK)$Up over 43%, total market value surpassing 109.3 billion Hong Kong dollars, the company is the largest fresh beverage company in the world.
$HORIZONROBOT-W (09660.HK)$Rebounding over 5%, included in the Hang Seng TECH Index, BYD's smart driving equality is expected to bring significant growth.
$EAST BUY (01797.HK)$ Up over 8%, Yu Minhong holds an open attitude towards cooperation with Pang Donglai, with WeChat storefront gift orders accounting for a significant proportion.
$TENCENT (00700.HK)$Increased by 0.96%, Tencent Yuanbao has released a desktop version that supports multi-end collaboration with the "DeepSeek + Hunyuan" dual model.
$LAOPU GOLD (06181.HK)$Increased by 3.25%, full-year net profit is expected to grow by up to 2.6 times year-on-year, with the first overseas store opening in a high-end shopping mall in Singapore.
$WEICHAI POWER (02338.HK)$Increased by over 2%, February heavy truck market sales have grown month-on-month and year-on-year, with large-diameter engines expected to drive a reevaluation of the company's value.
$GEELY AUTO (00175.HK)$Increased by 2.05%, a joint venture agreement has been signed with multiple parties to establish an intelligent driving company, with February's new energy sales increasing significantly by about 194% year-on-year.
$KINGDEE INT'L (00268.HK)$Increased by over 3%, established a company in Qatar to expand in the Middle East, DeepSeek may accelerate the development of the company's AI applications.
$XPENG-W (09868.HK)$Increased by nearly 2%, with delivery volume in February surging 570% year-on-year, being the first in delivery volume among new forces for two consecutive months.
$MAO GEPING (01318.HK)$Increased by 8%, reached a new high, inclusion in the Hang Seng Index is expected to be successful, with impressive pre-orders for single products during the 3.8 promotion.
Today's transaction volume TOP10
Hong Kong Stock Connect funds
Regarding stock connect, today the net inflow of Hong Kong Stock Connect (southbound) is 9.742 billion Hong Kong dollars.
Institutional Views
CICC: Raised the target price of BEIGENE's H shares to HKD 198, maintaining the "Outperform the Industry" rating.
China International Capital Corporation released a research report stating that $BEIGENE (06160.HK)$ For the fiscal year 2024, revenue is projected at USD 3.81 billion, with product revenue at USD 3.78 billion, slightly exceeding the bank's expectations. The company management indicates that for the fiscal year 2025, revenue is expected to be between USD 4.9 billion and USD 5.3 billion, with GAAP Operating profit turning positive and positive cash flow from operating activities, also exceeding the bank's expectations.
CICC stated that due to the higher-than-expected volume of Zybuntin, it has raised its profit forecast for BEIGENE for the fiscal year 2025 to USD 0.053 billion, and raised the profit forecast for 2026 by 10% to USD 0.405 billion. The target price of BEIGENE's H shares has been raised by 7.6% to HKD 198, and the target price for U.S. stocks has been increased by 7.8% to USD 332, maintaining the "Outperform the Industry" rating.
Goldman Sachs: Raised the target price of ZAI LAB to HKD 42.01, reiterating that this year is a milestone year for the company's development.
Goldman Sachs published Research Reports stating, $ZAI LAB (09688.HK)$The sales performance in the fourth quarter of 2024 met expectations, with revenue increasing by 66% year-on-year to 0.1085 billion USD, matching the firm's expected 0.108 billion USD, and the revenue performance of various products aligned with Goldman Sachs' forecast. The firm believes that the short-term impact from the company's optimization of the business team last year has dissipated, and it predicts that Efgartigimod revenue will reach 1 billion yuan in fiscal year 2025.
The firm reiterated that 2025 will be a milestone year for ZAI LAB, with loss expectations continuing to narrow, and it anticipates achieving profitability by the fourth quarter of this year. The report highlighted new drug application progress for products such as bemarituzumab, TIVDAK, and Optune, upgrading the rating to "Buy" and raising the H-shares target price from HKD 40.4 to HKD 42.01.
Morgan Stanley: It is expected that Macau's total gaming revenue in March will be 20.1 billion MOP, with positive views on SANDS CHINA LTD and MGM CHINA.
Morgan Stanley released a research report indicating that Macau's gaming revenue increased by 7% year-on-year to 19.7 billion MOP in February, surpassing the firm's and market expectations. For the first two months of this year, Macau's total gaming revenue remained flat year-on-year, reaching 76% of 2019 levels, with the recovery pace being slower than the fourth quarter of last year (80% of 2019).
Morgan Stanley expects Macau's total gaming revenue in March to rise by 3.3% year-on-year to 20.1 billion MOP, leading to first-quarter gaming revenue increasing by 1% year-on-year to 58.1 billion MOP. The firm has a positive outlook. $SANDS CHINA LTD (01928.HK)$ and $MGM CHINA (02282.HK)$ The line believes that the former benefits from the opening of London Mansion and increased dividends; the latter has a high dividend yield and is valued cheaply.
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