Futu News reported on April 25 that the gains of the three major Hong Kong indices narrowed in the afternoon. $Hang Seng Index (800000.HK)$ Up 0.32%, $Hang Seng TECH Index (800700.HK)$Up 0.14%,$Hang Seng China Enterprises Index (800100.HK)$Up 0.29%.
As of the close, there were 1,159 stocks up, 826 down, and 1,144 flat.
The specific industry performance is shown in the picture below:
In the Sector, most Network Technology stocks rose, with Baidu Group-SW up 3.85%, NTES-S up 2.11%, Alibaba-W up 1.58%, TENCENT up 1.53%, XIAOMI-W down 1.04%, KUAISHOU-W up 0.59%, MEITUAN-W up 0.47%, and JD-SW down 0.32%.
Semiconductor stocks mostly fell, with HUA HONG SEMI down 6.28%, BEKE down 4.39%, Semiconductor Manufacturing International Corporation down 2.80%, SOLOMON SYSTECH up 1.25%, INNOLOGY down 0.26%, and SHANGHAI FUDAN down 0.19%.
Apple Supplier stocks rose, with COWELL up 6.11%, FIH up 4.23%, AAC TECH up 3.39%, BYD Electronics up 2.21%, VSTECS up 1.89%, SUNNY OPTICAL up 1.56%, TK GROUP HLDG up 1.03%, and Q TECH up 0.63%.
Stocks in the Lithium Battery industry performed exceptionally well, with LEOCH INT'L down 3.21%, HONBRIDGE up 2.50%, BYD Electronics up 2.21%, GANFENGLITHIUM down 2.19%, Tianqi Lithium Corporation up 1.79%, BYD Company up 1.69%, ZX INC up 0.61%, and TIANNENG POWER down 0.31%.
Most Mobile Game stocks rose, with KINGSOFT down 3.39%, ZX INC up 3.11%, NTES-S up 2.11%, TENCENT up 1.53%, NETDRAGON down 1.29%, Bilibili-W up 0.75%, XD INC down 0.75%, and BOYAA up 0.68%.
Most Casinos and Gaming stocks rose, with MELCO INT'L DEV up 6.15%, PARADISE up 3.58%, SANDS CHINA LTD up 2.94%, MGM CHINA up 1.42%, SJM HOLDINGS up 1.38%, WYNN MACAU up 0.97%, GALAXY ENT up 0.36%, and NAGACORP up 0.33%.
In terms of individual stocks,$TENCENT (00700.HK)$Up 1.53%, the company's domestic key game turnover growth rate in the first quarter is relatively fast, with a significant acceleration in AI direction layout.
$BIDU-SW (09888.HK)$Up nearly 4%, releasing the new generation of Wenxin large model 4.5, Turbo and X1, Turbo.
$KUAISHOU-W (01024.HK)$Up 0.59%, Kuaishou Kwaipilot team fully replicates DeepSeek-R1-Zero mathematical code capability.
$NIO-SW (09866.HK)$Up nearly 4%, three major brands recently appeared at the Shanghai Auto Show, with a total of 9 new cars launched this year.
$RADIANCE HLDGS (09993.HK)$Up nearly 30%, foreign institutions are bullish on the recovery of the Real Estate sector.
Top 10 transaction amounts today.
Hong Kong Stock Connect funds.
Regarding the Hong Kong Stock Connect, today there was a net outflow of 7.019 billion Hong Kong dollars.
Institutional views
Bank of America: Lowered the Target Price for ZTE to 28 Hong Kong dollars and reaffirmed the Buy rating.
Bank of America Securities published a Research Report indicating, $ZTE (00763.HK)$ 首季度财报大致符合该行及市场预期。销售额表现强劲，分别较该行及市场预期高11%及8%；毛利率按年下降7.8个百分点至34.3%，分别落后该行及市场预期5.3及3.5个百分点；营运收入则较该行及市场预期分别低21%及13%。美银将中兴通讯2025至2027财年销售预测上调6%至11%，但因毛利率稀释，下调利润预测9%至12%。相应地，该行将中兴通讯H股目标价由32港元下调至28港元，重申“买入”评级。
Daiwa: The top recommended companies in China's Internet Industry are Alibaba, Tencent, Trip.com, and PDD Holdings.
大和发表中国互联网行业报告表示，中概互联网指数ETF和恒生科技指数在过去一个月分别下跌10%和10.5%，受到地缘政治风险不确定性的影响。该行认为美中关系已达“对抗高峰”，未来可能回归建设性发展。大和首选推荐为 $BABA-W (09988.HK)$ 、 $TRIP.COM-S (09961.HK)$ 、 $TENCENT (00700.HK)$ 、 $PDD Holdings (PDD.US)$ and $Sea (SE.US)$ It is also optimistic. $Full Truck Alliance (YMM.US)$ The bank believes that Alibaba, as a leader in the cloud market, is most likely to benefit from the growth of public cloud spending; it is expected that TRIP.COM may benefit from the increase in inbound tourism demand in China; Tencent's valuation has room for growth compared to its average PE over the past three and five years.
Morgan Stanley reaffirms CHOW TAI FOOK's "Shareholding" rating, with same-store sales for the last fiscal quarter meeting expectations.
Morgan Stanley published a research report indicating that $CHOW TAI FOOK (01929.HK)$ The drop in same-store sales for the last fiscal quarter narrowed and met expectations. The group's operational quality improved, the product mix was better, store productivity increased, and profit margins expanded, offsetting the drag from the increased store closure rate. The firm reaffirms the group's "Shareholding" rating, with a Target Price of HKD 10.5. Morgan Stanley mentioned that CHOW TAI FOOK expects its income for Fiscal Year 2025 to meet its guidance, while gross margin and operating profit margin will exceed the guidance. The firm believes that the group will continue to focus on the strategy of operational quality, and the net number of store closures for Fiscal Year 2026 may decrease. The firm expects the group's compound annual growth rate for earnings per share from Fiscal Year 2025 to 2027 to be around 20%.
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