Futu News reported on March 18th that all three major Hong Kong stock indexes rose, $Hang Seng Index (800000.HK)$ Increased by 2.46%, $Hang Seng TECH Index (800700.HK)$ Increased by 3.96%, $Hang Seng China Enterprises Index (800100.HK)$ Increased by 2.79%.
As of the market close, 1,410 Hong Kong stocks rose, 767 fell, and 931 closed flat.
The specific industry performance is shown in the picture below:
In terms of sectors, Network Technology stocks rose overall, with Baidu-SW increasing by 12.22%, Alibaba-W rising by 5.83%, JD-SW up by 5.27%, Bilibili-W increasing by 4.94%, KUAISHOU-W up by 4.41%, XIAOMI-W rising by 3.32%, TENCENT increasing by 3.15%, and MEITUAN-W up by 1.26%.
Golden Industrial Concept stocks rose, with RA SILK ROAD increasing by 19.40%, LINGBAO GOLD rising by 7.30%, SD GOLD up by 6.99%, ZHAOJIN MINING increasing by 5.68%, Zijin Mining Group rising by 4.23%, and CHINAGOLDINTL up by 2.45%.
Robot Concept stocks surged in the afternoon, with Yuejiang rising by 27.88%, Suteng Juchuang up by 4.38%, Midea Group Co., Ltd increasing by 10.01%, and XIAOMI-W rising by 3.32%.
Auto stocks strengthened, with NIO-SW increasing by 8.95%, YADEA rising by 8.70%, LI Auto-W up by 6.76%, Great Wall Motor increasing by 5.34%, BYD shares up by 4.10%, Geely Automobile rising by 3.81%, LEAPMOTOR increasing by 3.73%, and Xpeng Motors-W up by 1.44%.
Biotechnology stocks rose overall, with EVEREST MED-B increasing by 10.74%, WUXI APPTEC rising by 10.54%, JXR down by 5.11%, WUXI BIO up by 5.08%, GENSCRIPT BIO increasing by 4.23%, BEIGENE rising by 2.93%, AKESO down by 2.31%, and Jingtai Holdings-P increasing by 1.20%.
Lithium Battery stocks strengthened, with TIANNENG POWER rising by 14.79%, LEOCH INT'L up by 7.29%, BYD shares increasing by 4.10%, BYD Electronics rising by 3.77%, Zhongchuang Innovation航 up by 3.29%, CHAOWEI POWER rising by 2.67%, GANFENGLITHIUM up by 1.50%, and Tianqi Lithium Corporation increasing by 0.77%.
Semiconductor stocks rose, with Semiconductor Manufacturing International Corporation increasing by 4.34%, HUA HONG SEMI up by 1.98%, HG SEMI rising by 1.69%, SHANGHAI FUDAN up by 1.46%, INGDAN increasing by 1.31%, CE HUADA TECH rising by 1.28%, Beikewei up by 0.92%, and Innosilicon rising by 0.51%.
In terms of individual stocks,$LI AUTO-W (02015.HK)$Up nearly 7%, announced the next-generation autonomous driving architecture MindVLA.
$NIO-SW (09866.HK)$Up nearly 9%, Contemporary Amperex Technology is promoting a strategic investment of no more than 2.5 billion yuan in NIO Energy.
$MIXUE GROUP (02097.HK)$Increased by over 6%, with a total market value nearing 170 billion Hong Kong dollars, the company will release its annual performance next Wednesday.
$BIDU-SW (09888.HK)$Rising over 12%, the stock price has returned to the significant level of 100 HKD, launching the Wenxin large model 4.5 and X1, with pricing that is highly competitive.
$WUXI APPTEC (02359.HK)$Rising over 10%, the company's Q4 revenue has reached a new high, expecting to achieve 10-15% double-digit growth this year.
$CHINA RES BEER (00291.HK)$Rising over 4%, the high-end strategy continues to develop, with last year's gross margin rising to 42.6%, a near five-year high.
$BYD COMPANY (01211.HK)$Rising over 4%, the company has launched the Super E platform, achieving simultaneous oil and electricity speed, with institutions indicating that it is initiating a strategic transformation.
$BABA-W (09988.HK)$Up nearly 6%, Alibaba CEO Wu Yongming advocates for fully realizing AI integration, and UBS states it still has value potential.
Top 10 transaction amounts today.
Hong Kong Stock Connect funds.
In terms of Hong Kong Stock Connect, today the net outflow from Hong Kong Stock Connect (southbound) is 1.102 billion HKD.
Institutional Views
Morgan Stanley: Reiterates WUXI APPTEC's 'Shareholding' rating, and earnings and guidance indicate achievable value reassessment.
Morgan Stanley indicates, $WUXI APPTEC (02359.HK)$ Last year's full year and fourth quarter revenue and adjusted net profit margin both met the bank's expectations, and this year's guidance also met expectations, with the net profit margin further improving on a high base. The bank stated that the company's business is expected to accelerate this year, supported by a 47% year-on-year increase in orders on hand last year. The company has increased capital expenditures to expand global capacity, and the free cash flow situation remains healthy. The bank believes that WUXI APPTEC's performance and guidance reinforce confidence in its underlying strength, and it considers that the stock's value can be re-evaluated, reiterating a "Shareholding" rating with a target price of HKD 74.3.
UBS: Macau's gaming revenue has shown solid trends since March, and the view of the industry remains positive.
UBS published a research report indicating that according to the bank's channel investigation, the average daily gaming revenue in Macau over the past seven days was approximately 0.621 billion Macau Patacas, which is a decrease from the high base of the previous nine days. The average daily gaming revenue from March to date is around 0.631 billion Macau Patacas, down about 10% month-on-month, suggesting a stable trend consistent with seasonal performances from 2015 to 2019. The bank maintains a positive view of the industry, favoring Sands China.
Citi: Raised the target price of Q TECH to HKD 9.3 and adjusted earnings forecasts for this year and next year.
Citi published a research report stating that $Q TECH (01478.HK)$ last year's net profit increased by 241% year-on-year, meeting the previously announced earnings expectation range. In the second half of last year, the gross margin continuously improved, growing 1.7 percentage points to 6.9% compared to the first half. Citi believes that Q TECH's product portfolio in high-end smartphone camera modules (CCM) will continue to expand, and the company is also expanding new business opportunities in Autos or Internet of Things CCM and LiDAR. The bank stated that due to the better-than-expected progress of the fingerprint recognition module business turning from loss to profit, it raised the group's earnings forecasts for this year and next year by 7% and 2%, respectively, to 0.43 billion and 0.51 billion, with the target price also raised from HKD 9.1 to HKD 9.3, maintaining a "Outperform" rating.
Editor/danial
Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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