Futu News reported on May 13 that the three major Hong Kong stock indices all fell, $Hang Seng Index (800000.HK)$ down 1.87%, $Hang Seng TECH Index (800700.HK)$ down 3.26%, $Hang Seng China Enterprises Index (800100.HK)$ down 2.02%.
By the end of the trading session, there were 849 stocks rising in Hong Kong, 1176 stocks falling, and 1104 stocks remaining unchanged.
The performance of specific industries is shown in the following figure:
In terms of Sector.
Network Technology stocks generally fell, MEITUAN-W dropped 4.91%, KUAISHOU-W dropped 4.62%, Alibaba-W dropped 3.89%, XIAOMI-W dropped 3.85%, NTES-S dropped 2.96%, TENCENT fell 2.22%, JD-SW dropped 2.07%, and Baidu Group-SW fell 1.69%.
Most Apple Supplier Stocks declined, with COWELL falling by 7.69%, SUNNY OPTICAL by 7.64%, BYD Electronics by 7.11%, Q TECH by 3.41%, AAC TECH by 3.07%, VSTECS by 1.21%, while FIH increased by 1.19%.
Many Lithium Battery stocks declined, BYD Electronics dropped 7.11%, BYD Company fell 4.76%, CHAOWEI POWER rose 2.29%, LEOCH INT'L dropped 2.05%, Tianqi Lithium Corporation fell 1.64%, GANFENGLITHIUM dropped 1.15%, TIANNENG POWER fell 0.15%, and 中创新航 dropped 0.11%.
Many automotive stocks declined, XPENG-W dropped 5.35%, NIO-SW fell 5.17%, BYD Company dropped 4.76%, LEAPMOTOR rose 4.11%, LI KONG-W dropped 3.05%, Great Wall Motor fell 2.56%, Geely Automobile dropped 1.58%, and YADEA fell 0.89%.
Many semiconductor stocks declined, INGDAN rose 5.76%, HUA HONG SEMI dropped 4.24%, Semiconductor Manufacturing International Corporation fell 4.05%, INNOTEK dropped 3.23%, BEKE fell 2.86%, SMART-CORE dropped 1.74%, CE HUADA TECH rose 1.42%, and SHANGHAI FUDAN dropped 0.74%.
Sporting Goods stocks weakened, ANTA SPORTS dropped 3.59%, YUE YUEN IND rose 2.15%, XTEP INT'L dropped 1.43%, LI NING fell 1.28%, CHINA DONGXIANG dropped 1.20%, 361 DEGREES fell 0.69%, and HONMAGOLF rose 0.29%.
In terms of individual stocks.
$GIANT BIOGENE (02367.HK)$Up over 5%. The company's profit outlook is stable, and institutions say there continue to be structural opportunities in the beauty industry.
$GOLDWIND (02208.HK)$Up over 3%. The price of wind turbines continues to rise steadily, and institutions say demand for offshore wind in China and Europe is expected to resonate.
$IMMUNEONCO-B (01541.HK)$An increase of over 7%, received another payment of 5 million USD in collaboration with Axion and Bio, totaling 20 million USD received.
$HBM HOLDINGS-B (02142.HK)$Increased by more than 7.68%, the company has repurchased shares for five consecutive days, with a total repurchase exceeding 70 million Hong Kong dollars this year.
Top 10 transaction amounts today.
Hong Kong Stock Connect funds.
Regarding the Hong Kong Stock Connect, there was a net inflow of 2.262 billion Hong Kong dollars today.
Institutional views
Daiwa: Released a Hong Kong stock strategy report, predicting that optimistic trade sentiment will boost the stock market in the short term, with the Hang Seng Index possibly approaching its March high.
It is believed that there are tactical trading opportunities in industries affected by tariffs, such as electronics, textiles, shipping, and electrical equipment, therefore it will $Luxshare Precision Industry (002475.SZ)$ and $Huali Industrial Group (300979.SZ)$ This firm has been added to the preferred list of Chinese stocks and is excluded. $CHINA RES BEER (00291.HK)$ Among those selected by the firm are stocks seeking technical trading opportunities after the China-US trade negotiations, including BEIGENE, AAC TECH, and BYD Electronics.
Daiwa pointed out that from a long-term perspective, it reiterates that the Hang Seng Index has limited upward space, as the SSE Composite Index and Hang Seng Index have exceeded the firm's mid-2025 targets (the mid-year target for the Hang Seng Index is 22,700 points this year) and are close to its year-end target (the year-end target for the Hang Seng Index is 24,000 points this year). The firm believes that the year-on-year earnings forecasts of 2.0% and 7.5% for the two markets have reflected the assumption of reduced US tariffs. Furthermore, although the initial policy tone of the US-China negotiations is positive, the firm expects that future trade talks will remain turbulent, as there are still differences between the two sides on issues such as trade surplus and technological restrictions. Lastly, positive developments in US-China trade negotiations may reduce the urgency for strong stimulus measures.
Citigroup: Citigroup reiterates a positive view on AH Stocks, mainly due to reduced Chinese-US trade risks and the currently seeming low valuations.
Citigroup issued a Research Report stating that the US and China released a joint statement after the Geneva economic and trade talks, announcing their agreement to significantly reduce tariffs on each other's Commodities, with an initial deadline of 90 days. The extent of the tariff reductions may exceed market expectations, while also reflecting that both sides have established communication channels, which may help to reduce future trade tariff risks. The achievement of the joint statement brings positive sentiment to the market. Considering the scale of China's trade surplus with the US and other global markets, Citigroup expects a significant reduction in US trade barriers to be favorable for China's economic outlook. Citigroup reiterates a positive view on AH Stocks, mainly due to reduced Chinese-US trade risks and the currently seeming low valuations.
Editor/Lee
