Futu News, May 7, reports that the three major Hong Kong indices showed mixed movements. $Hang Seng Index (800000.HK)$ Up by 0.13%, $Hang Seng TECH Index (800700.HK)$ Down by 0.75%, the national index fell by 0.23%.
As of the close, 1,084 stocks in Hong Kong rose, 934 fell, and 1,111 closed flat.
The performance of specific industries is shown in the following figure:
In terms of sectors, the Network Technology stocks showed varied trends, with XIAOMI-W down by 2.81%, Alibaba-W down by 2.02%, NTES-S down by 1.42%, TENCENT down by 1.13%, KUAISHOU-W down by 0.84%, JD-SW down by 0.46%, Baidu Group-SW down by 0.46%, and MEITUAN-W up by 0.36%.
The Machinery stocks collectively strengthened, with newly listed Boreton rising over 38% and MORIMATSU INTL increasing nearly 6%.
Most of the Mainland Real Estate stocks rose, with RADIANCE HLDGS increasing over 15%, ZHONGLIANG HLDG rising more than 3%, and AGILE GROUP up more than 2%.
Biotechnology stocks dropped, with BEIGENE down 7.96%, REMEGEN falling 7.33%, WUXI BIO decreasing 6.67%, WUXI XDC down 5.39%, Crystal Tech Holdings falling 4.12%, AKESO down 3.46%, WUXI APPTEC dropping 2.81%, and Giant Bio decreasing 2.48%.
Casinos and Gaming stocks generally rose, with MELCO INT'L DEV increasing 4.73%, SANDS CHINA LTD up 2.67%, GALAXY ENT rising 2.03%, WYNN MACAU growing 2.01%, SJM HOLDINGS increasing 1.33%, MGM CHINA up 1.27%, NAGACORP rising 0.89%, and PARADISE ENT decreasing 0.63%.
Pharmaceutical stocks showed mixed performance, with GRANDPHARMA up 13.36%, 3SBIO down 6.62%, INNOVENT BIO falling 3.68%, SINO BIOPHARM decreasing 3.04%, Hutchmed (China) dropping 2.99%, UNITED LAB down 2.91%, HANSOH PHARMA decreasing 2.66%, and CSPC PHARMA down 1.88%.
Most Semiconductor stocks fell, with HUA HONG SEMI down 3.03%, Baker Hughes decreasing 1.79%, Semiconductor Manufacturing International Corporation dropping 1.60%, SHANGHAI FUDAN down 1.27%, and HG SEMI increasing 1.02%.
Sporting Goods stocks showed mixed results, with POU SHENG INT'L up 4.30%, 361 DEGREES increasing 1.88%, ANTA SPORTS rising 1.86%, CHINA DONGXIANG down 1.18%, LI NING increasing 0.79%, YUE YUEN IND up 0.53%, and XTEP INT'L down 0.45%.
Regarding individual stocks, $LI AUTO-W (02015.HK)$Rising over 2%, weekly sales exceeding ten thousand, the L series upgraded version is about to be launched.
$SHIYUE DAOTIAN (09676.HK)$Rising nearly 6%, the current external environment is volatile, institutions say the defensive advantages in Agriculture are becoming prominent.
$HKEX (00388.HK)$Rising nearly 2%, officially launching the "Technology Enterprise Dedicated Line", institutions expect trading activities to accelerate in the medium to long term.
$IMOTIONTECH (01274.HK)$Rising over 6%, the company has signed a cooperation framework agreement with Delloyd and previously received a new project from a leading automotive company.
Top 10 transaction amounts today.
Hong Kong Stock Connect funds.
In terms of Northbound trading, today, there was a net outflow of 7.866 billion Hong Kong dollars.
Institutional views
Bank of China International: Adjusted the target price for CONCH CEMENT to 27.35 Hong Kong dollars and raised earnings forecasts.
Bank of China International released a research report indicating that $CONCH CEMENT (00914.HK)$ First-quarter profits increased by 21% year-on-year to 1.81 billion yuan, believing that unit gross margin improvement is the main driving factor. The bank expects strong quarterly growth in profits driven by higher sales volume and ton gross margin in the second quarter. The bank raised the group’s profit forecasts for 2025 to 2027 by 17% to 19% to reflect its recent significant reduction in coal price forecasts. The bank also maintains a "Buy" rating for the stock and raised the target price for H shares from 24.68 Hong Kong dollars to 27.35 Hong Kong dollars.
Citi: Downgraded the target price of FLAT GLASS to HKD 7.5 and initiated a 30-day negative catalyst observation.
Citi issued a research report stating that due to the reduction in the average selling price of solar glass, $FLAT GLASS (06865.HK)$Net income for the first quarter fell 86% year-on-year to 0.106 billion yuan. The group's profitability has improved from a loss in the fourth quarter of last year, and demand for solar glass in China has also increased. However, due to the end of emergency installation demand, market demand in May may decline. The firm stated that due to the drop in the group's operating cash flow, it maintains a 'sell' rating, with a target price lowered from HKD 10 to HKD 7.5, and initiated a 30-day negative catalyst observation, expecting the price of solar glass in China to fall.
Goldman Sachs: Downgraded the target price of FOSUN PHARMA to HKD 16.38 and lowered the profit forecast.
Goldman Sachs published a research report stating that $FOSUN PHARMA (02196.HK)$ sales in the first quarter fell short of the firm's expectations and further declined on the low base from the same period last year, mainly due to the reduction in the prices of concentrated procurement renewals and the expansion of regional procurement, leading to a year-on-year decrease of about 10% in pharmaceutical sales, although growth in new drug sales partially alleviated the impact. The medical instruments business experienced growth driven by a 23% year-on-year increase in ventilator sales, but aesthetic medical equipment and diagnostic reagents are under pressure in a weak consumer environment. The services business declined by 2% year-on-year due to the termination of some online services, but offline business achieved growth with the expansion of rehabilitation services.
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