Evaluation of Hong Kong stocks

Futu Information on July 23 | the three major indexes of Hong Kong stocks closed down sharply. Recently, hot sectors have almost completely fallen, and technology stocks have underperformed throughout the day. By the close, the Hang Seng Index was down 1.45 per cent at 27321, the national index was down 1.67 per cent at 9839, and the Hang Seng Technology Index was down 2.96 per cent at 7268.

Plate aspectLarge-scale technology stocks all fell. Kuaishou Technology fell nearly 11% before brushing new low prices on the stock market. XIAOMI, Tencent, Meituan and Baidu, Inc. all fell by more than 2%.

Education stocks plummeted across the board, New Oriental Education & Technology Group-S fell by more than 40%, thinking Music Education and New Oriental Education & Technology Group online fell by more than 28%, Excellence Education fell by more than 21%, and Tianli Education and New higher Education fell across the board.

Sporting goods stocks fell sharply across the board, with Li Ning Co. Ltd. down more than 8%, Xtep International down more than 7%, Bosideng International down 5.74%, ANTA Sports Products down 4.55%, and China trend down 6%. Analysts pointed out that sporting goods stocks fell collectively, or because the Tokyo Olympic Games will open tonight, the profit market sold off wantonly.

Car dealers' shares fell more in the afternoon, led by Yongda Motors, down 6.34%, Guanghui Baoxin down 5%, and Meidong Motor down more than 4%.

Individual stocksMultiple positive boost$Lianyong Technology-W (09959.HK) $It soared by more than 8%.At one point, Lianyirong's afternoon increase expanded to more than 16%. Based on its confidence in its future development and the value of its shares, the company will carry out share buybacks for no more than $100 million. Citic Capital increased its stake in Lianyirong 5 million shares on the 22nd. As a veteran shareholder of Lianyirong, Citic Capital participated in round A, round B and round C financing. In addition, China Renaissance Holdings Ltd. said that Lianyirong short selling report is aimless to maintain the buy rating. It also received strong support, saying that there were a number of errors in the short report.

China Glass (03300.HK) $After diving after hitting a 10-year high yesterday, it fell 12% in intraday trading today, and finally closed flat.On the news side, CICC recently issued a research report that the gap of float glass in the second half of the peak season is expected to expand, supporting prices to continue to rise. In the medium term, the peak of demand will continue and prices are expected to remain high. On the supply side, while new capacity is limited, there are more than 100 production lines in the industry operating for a long time at this stage, close to cold repair nodes, and most production lines will go into cold repair in phases in the next three to five years, and the supply margin may still contract, the report said. First awarded to China Glass "outperform industry" rating, with a target price of HK $4.3.

$COSCO Shipping Holdings (01919.HK) $It fell nearly 7% in the afternoon, nearly 30% lower than the high of the month, and A shares were once close to the limit.On the news side, CICC recently released a research report saying that high freight rates may gradually normalize and focus on long-term value. In the short term, the certainty of the performance is still strong. The bank believes that the core of the current tight supply and demand of the collection and transportation industry chain lies in the demand of the American line. The overall growth trend of global container transport demand has not changed significantly because of the epidemic, but there are obvious structural differences, which leads to the structural tension of transport capacity, and the American Line has become the cause and support of the rise in global freight rates.

Hong Kong stock exchange fund

As for the Hong Kong Stock Connect, there was a net outflow of HK $2.339 billion from Hong Kong Stock Connect (southbound) today.

Today's turnover of Hong Kong shares TOP20

Message surface

Ministry of Housing and Construction: strive to achieve a marked improvement in the order of the real estate market in about 3 years.Eight departments, including the Ministry of Housing and Urban-Rural Development, issued a notice on the continuous regulation and regulation of the real estate market order. Strive to achieve a marked improvement in the order of the real estate market in about three years. Violations of laws and regulations have been effectively curbed, the regulatory system has been continuously improved, a regulatory information system has been basically established, a pattern of joint management by departments has gradually taken shape, and the number of letters and complaints from the masses has dropped significantly.

Renewable energy "14th five-year Plan" top-level design is expected to be issued as soon as possible to promote intelligent photovoltaic innovation and upgrading and industry application.Kong Tao, deputy director of the Department of New and Renewable Energy of the National Energy Administration, revealed at the seminar on the review of the development of the photovoltaic industry in the first half of 2021 and the situation prospect in the second half of 2021 that the "14th five-year Plan" development plan for renewable energy will be issued as soon as possible. and in accordance with the development idea of "optimizing development by regional layout, supporting development by major bases, leading development by demonstration projects, and implementing development by action plan", research will be carried out simultaneously. Promote the implementation of major bases, demonstration projects and action plans as soon as possible.

The vaccination dose of COVID-19 in China has exceeded 1.5 billion.As of July 22, 31 provinces (autonomous regions and municipalities directly under the Central Government) and the Xinjiang production and Construction Corps had reported a total of 1.507605 billion doses of novel coronavirus vaccine, according to the National Health Commission.

The growth rate of overall land prices rose slightly in the second quarter. According to the Ministry of Natural Resources, the National Land Price Monitoring report of the second quarter of 2021 released by the China Institute of Land Survey and Planning recently showed that the overall land price growth rate of the whole country increased slightly in the second quarter. The month-on-month growth rate of commercial service land prices increased for four consecutive quarters, and the month-on-month growth rate of residential land prices in first-tier cities slowed down, and that of industrial land prices turned to decline. The growth rate of land prices for various uses continued to rise over the same period last year.

Institutional viewpoint

UBS: lower price forecast for solar glass$Xinyi Solar (00968.HK) $及$Flat Glass Group (06865.HK) $Target price.UBS Research reported that it is expected that the relaxation of capacity restrictions and a large number of potential new supply will depress the price of solar glass. In order to reflect that the bank lowered its price forecast for solar glass this year and next, the target price was lowered from HK $25.3 to HK $23 per share, with a "buy" rating, and the target price of H shares was lowered from HK $45 to HK $43, with a "buy" rating.

Goldman Sachs Group: cut the price of cement stocks in the mainland, and will$China National Building Material (03323.HK) $Remove the "make sure to buy" list.Goldman Sachs Group issued a report to lower the earnings of mainland cement stocks covered by 1% to 43% from this year to 2023, reflecting weaker-than-expected supply and demand in the industry and rising coal prices, and lowered the target price of the relevant shares from 13% to 41%. The bank is expected to show a seasonal recovery in demand in the coming months and has recently contacted the industry to note that supply pressure is greater than expected. As the upward pressure on coal prices continues, it is expected that cement merchants' gross profit margin is difficult to recover significantly.

China Merchants International: reiterate$Great Wall Motor (02333.HK) $Buy rating, target price rises to HK $39.6.China Banking International reported that the target price of Great Wall Motor was raised to HK $39.6, reiterating the buying rating. Although affected by the shortage of car chips, the first-half results still exceeded market expectations. It is expected that a number of new models of the group, including the WEY brand Macchiato, latte and Harvard XY, are expected to go on sale in the second half of the year, helping to boost sales and net profit.

Macquarie: reiterate$China Mengniu Dairy (02319.HK) $Outperformed the market rating and raised the target price to HK $56.Gree released a research report that raised the target price of China Mengniu Dairy from HK $54 to HK $56, reiterating its outperformance rating. Under strong demand, Mengniu's revenue is expected to grow 17.8 per cent in the first half, 1 per cent higher than market expectations. Due to the low base effect, the operating profit / profit has more than doubled; as the price of raw milk has risen by more than 15%, the gross profit margin is under pressure in the first half of the year, and the gross profit margin is expected to be 5.6%; but it is said that strong revenue offset the cost pressure.