Review of Hong Kong stock market

The previous trading day (6th) Hong Kong stocks opened high and left low, retry 26000. The Hang Seng Index opened 58 points higher at 26262, which was temporarily high. It fell after the opening of the market, wearing 10 antennas (about 26024 points) and retried 26000 points. It fell 202 points to 26002 points, and then fell again. Hong Kong stocks rose above this morning's opening high in the afternoon, rising 72 points to 26276 points.

On the market, tourism and sightseeing, semiconductors, non-ferrous metals plate led the rise, short video, Evergrande concept, dairy products plate fell. In terms of individual stocks, Hua Hong Semiconductor (01347.HK) closed up 3.71%, Aluminum Corporation Of China Ltd (02600.HK) closed up 4.71%, Kuaishou Technology (01024.HK) closed down 4.71%, and China Feihe Limited (06186.HK) closed down 4.35%.

The Prospect of Hong Kong stocks

As of press time, the HS50 index fell 0.8% to 25965.2.

Recently, regulators and the media have published a series of measures to regulate the industry, mainly affected by education, games, e-cigarettes, formula and other sectors, which have led to market fatigue and affected the rising pace.

The news continues to be unfriendly at the weekend. The employment report released by the Labor Department on Friday showed that the US economy added 943000 jobs in July, more than expected by 845000 jobs, and the unemployment rate fell to 5.4 per cent, below expectations of 5.7 per cent. the average hourly wage rose 4 per cent year-on-year and 0.4 per cent month-on-month, both exceeding expectations. The strong data led the market to expect the Fed to announce plans to shrink its schedule ahead of time. In addition, the direction of the epidemic continues to cause trouble to the market.

And Hong Kong Internet giants BABA (09988.HK) and Tencent (00700.HK) also encountered bad news again, which is expected to drive the market down. While the official media shouted that "lack of core" is not the reason for "core speculation", it is a certain emotional blow to the chip concept stocks which rose against the market in the previous period. Under the impact of various unfavorable factors, we should be careful to make up the gap in the market.

A list of macro news

[China's hydrogen demand will reach 35 million tons in 2030, accounting for 5% of the terminal energy system]

According to the China hydrogen Energy Alliance, China's hydrogen demand will reach 35 million tons by 2030, accounting for 5 per cent of the terminal energy system. By 2050, hydrogen energy will account for at least 10% of China's terminal energy system, and the annual output value of the industrial chain will be about 12 trillion yuan. As a subdivision of the new energy industry, hydrogen energy is considered to be an important part of energy reform in the future. At present, the global hydrogen energy development momentum is very strong. Of the 27 countries that account for about 52% of the global GDP, 16 have formulated comprehensive national hydrogen energy strategies, and 11 countries are in the process of formulating national hydrogen energy strategies.

[gold fell the most in seven weeks as US job growth was higher than expected]

Gold suffered its biggest drop in seven weeks after stronger-than-expected US jobs data sparked predictions that the Fed might soon begin to scale back its monetary stimulus. Us job growth in July was the biggest in nearly a year, and the unemployment rate fell faster than expected. After the report, the dollar rose and the yield on the 10-year Treasury note rose. Gold fell as investors worried that an improved US economy and rising inflation would prompt the central bank to withdraw unprecedented economic support. Low interest rates help make gold more competitive against interest-bearing assets. Gold is likely to suffer its biggest weekly decline since mid-June.

[1.103 million newly registered new energy vehicles in the first half of the year increased by 2.34 times compared with the same period last year]

APP, US-Hong Kong Telecom, August 6, data from the passenger Association show that in the first half of this year, 14.14 million newly registered vehicles were registered nationwide, an increase of 3.725 million over the same period last year, an increase of 35.8 percent, and an increase of 1.724 million, an increase of 13.9 percent over the same period in 2019. Of these, 1.103 million new energy vehicles were newly registered, an increase of 774000 over the same period last year, an increase of 2.34 times, and an increase of 473000 over the same period in 2019, an increase of 74.9 percent, a record high.

[CCTV Financial Hot Review: "lack of core" is not a reason for "core speculation")

CCTV Finance said in a statement that some dealers maliciously raised prices, causing market price chaos and aggravating market panic. Automobile companies have no choice but to hoard a large number of goods and increase chip inventory in order to resist future risks and further aggravate the plight of "lack of core", leading to a vicious circle. In the eyes of some people, "core speculation" seems to be the inevitable product of "lack of core", but when more car companies that do not have access to chips cannot handle it, stop production or even close down, who will eventually hurt? An example of turning "garlic you are ruthless" into "garlic you are miserable" is right in front of us. "lack of core" is not a reason for "frying core". Regulators will never be lenient in curbing price violations and maintaining market price order. At the same time, adversity sees truth, adversity sees the heart, and adversity sees honesty. It is hoped that all operators will strengthen self-discipline, do not hoard, do not bid up prices, and maintain market price stability in good faith.

[the Ministry of Emergency Management, the Ministry of Public Security, the Ministry of Human Resources and Social Security jointly held a conference on the safety of production and the protection of labor rights and interests of economic enterprises on key platforms to safeguard the safety and labor rights and interests of workers such as takeout riders]

In order to effectively promote platform economic enterprises to fully implement laws, regulations and policies on production safety and labor rights protection, and to safeguard the safety and labor rights and interests of workers such as takeout riders, recently, the Ministry of Emergency Management, the Ministry of Public Security and the relevant departments and bureaus of the Ministry of Human Resources and Social Security jointly held a promotion and implementation meeting on production safety and labor rights protection for key platform economic enterprises. Meituan and Meituan Distribution, BABA Group and he Ma Xiansheng, ele.me, and Dada Nexus Limited and other relevant platform economic enterprises made special reports on the work of implementing the main responsibility of enterprise production safety and strengthening the protection of labor rights and interests, saying that they would firmly establish the concept of safety development, strictly in accordance with the provisions of relevant laws and regulations and the work requirements of the three departments, and further strengthen the self-restraint of enterprises. We will strictly and carefully strengthen the safety management of enterprises and the protection of labor rights and interests, effectively implement corporate legal and social responsibility, and make every effort to promote the more safe and steady development of the platform economy.

[People's Daily published an article: medical cosmetology should not only achieve the best results but also prevent adverse consequences]

According to an article published by People's Daily, in recent years, with the rapid development of the medical beauty industry, more and more people choose to realize their wish to become beautiful through medical beauty. However, the problems can not be ignored. In the process of publicity, some medical and beauty institutions only talk about "best results" and do not talk about "adverse consequences". It is easy to make consumers ignore the hidden dangers of safety. "relevant departments should strengthen supervision, especially to crack down on the chaos of online medical and beauty stores. Some employees said that medical and beauty institutions should, in strict accordance with the provisions of the Advertising Law and the measures for the management of medical advertisements, obtain the examination certificate of medical advertisements in accordance with the law and issue medical advertisements in accordance with the regulations, and not publish false medical advertisements or false information.

A list of individual stock news

[Wechat: will self-check Wechat youth model, sincerely deal with civil public interest litigation]

In performing its duties, the people's Procuratorate of Haidian District of Beijing found that the Wechat product "Adolescent Model" of Shenzhen Tencent computer system Co., Ltd. does not comply with the relevant provisions of the Law of the people's Republic of China on the Protection of minors, infringes upon the legitimate rights and interests of minors and involves public interests. In this regard, on the evening of the 6th, Wechat responded. According to the report of the Beijing Haidian District people's Procuratorate on the announcement of Wechat's "youth model", we will seriously examine and examine the functions of Wechat's youth model, and humbly accept users' suggestions and sincerely deal with civil public interest litigation, Wechat said.

[BABA is cooperating with the police investigation after a female employee accused her boss and client of sexual assault]

BABA said in an emailed statement that he had suspended all parties suspected of violating the company's policies and values and set up an internal task force to investigate the matter and support the ongoing police investigation. BABA said that the company implements a policy of "zero tolerance" for inappropriate sexual behavior. BABA CEO Zhang Yong posted an intranet post on Sunday saying he was "shocked, angry and ashamed" when he learned of the incident, the Beijing News reported, citing him as saying that the HR team and relevant business executives at all levels should apologize and reflect on the failure to deal with it in a timely manner. BABA's investigation team issued an internal announcement on Saturday that five employees were suspended-in addition to the male employee involved, who was suspended for police investigation, four of his supervisors were also suspended to cooperate with the internal investigation.

[TCL Electronics: the controlling shareholder intends to increase the holding of no more than 20 million shares of the company]

TCL Electronics (01070.HK) announced that controlling shareholder TCL plans to hold shares in the next 12 months through T.C.L. Industrial Holdings (Hong Kong) Co., Ltd. increased its stake in the company by no more than 20 million shares in the open market. The announcement said that as informed by TCL Holdings, it is full of confidence in the company's current and future prospects and growth value.

[SOHO China: the acquisition of Blackstone Group Inc has been put on file for review by the General Administration of Market Supervision]

SOHO China (00410.HK) and Two Cities Master Holdings II Limited (offeror), a subsidiary of Blackstone Group Inc Group, jointly issued an announcement. According to the notice, on August 3, 2021, the requesting party received a notice issued by the State Administration of Market Supervision of China on August 2, 2021 to formally file and review the declaration submitted by the requesting party under the China Anti-Monopoly Law. Although the declaration has been formally filed, the contracting party and SOHO China may still be required to provide further information and materials for regulatory review.

[Softbank Corp. acquired Roche shares for US $5 billion, becoming one of the largest shareholders]

Softbank Corp. Group (SoftBank Group), owned by son, has acquired a $5 billion (32.3 billion yuan) stake in Roche, making it one of Roche's largest investors, according to media reports. According to reports, a person familiar with the matter said the investment was a direct bet on the share price and Softbank Corp. believed that Roche's Genentech division was grossly undervalued. At present, globally, there are only five companies with a market capitalization of more than $1,000bn, namely, Microsoft Corp (MSFT.O), Apple Inc (AAPL.O), Amazon.Com Inc (AMZN.O), Alphabet Inc-CL C (GOOG.O) and FB.O (Facebook), all of which are technology companies.

[China Molybdenum plans to invest US $2.51 billion in the construction of the TFM copper-cobalt mine mixed project in the Democratic Republic of the Congo]

China Molybdenum (03993.HK) issued an announcement that the company indirectly holds an 80 per cent interest in the TFM copper and cobalt mine in the Democratic Republic of the Congo. TFM Copper-Cobalt Mine has six mining rights and an area of more than 1500 square kilometers. it is one of the copper and cobalt minerals with the largest reserves and the highest grade in the world. TFM Copper and Cobalt Mine covers the exploration, mining, refining, processing and marketing of copper and cobalt ores, and its main products are cathode copper and cobalt hydroxide. In 2020, the TFM copper-cobalt mine produced a total of 182600 tons of copper and 15400 tons of cobalt.

[Morgan Stanley increased its stake in COSCO Shipping Holdings to about 6.2537 million shares, at a price of about HK $12.77 per share]

According to the latest information from the Hong Kong Stock Exchange, Morgan Stanley increased its stake in COSCO Shipping Holdings (01919.HK) 6.253715 million shares at a price of HK $12.7732 each, for a total of about HK $79.88 million, according to the Hong Kong Stock Exchange. After the increase, the latest number of shares is about 235 million shares, and the latest shareholding ratio is 7.01%.

[Datang Power Plant plans to invest about 124 million yuan in the construction of gas-fired peak-shaving boiler and supporting heat network project of Harbin No. 1 Thermal Power Plant]

Datang Power Generation (00991.HK) announced that the board of directors agreed to invest in the construction of a gas-fired peak-shaving boiler and supporting heat network project of Harbin No. 1 Thermal Power Plant of Datang Heilongjiang Power Generation Co., Ltd. on August 6, 2021, with a total investment of about 124 million yuan, with capital accounting for 30% of the total investment, or about 37 million yuan.

[AVIC: controlling shareholder AVIC terminates its plan to issue A shares]

AVIC announced on the evening of August 6 that after carefully considering many factors, such as market conditions and the actual situation of 00237.HK, the company's controlling shareholder AVIC decided to stop planning to issue A shares. As of the date of the announcement, AVIC has not submitted a formal application for the issuance and listing of A-share shares to the relevant securities regulatory authorities.

[CANSINOBIO: the level of neutralizing antibody remained at a high level 6 months after inoculation with Kweisha]

On the evening of August 5th, Zhu Tao, co-founder and chief scientific officer of CANSINOBIO (06185.HK), shared the clinical evaluation and application effect of the recombinant novel coronavirus vaccine (adenovirus type 5). Zhu Tao said that the latest clinical research data show that six months after the first immunization with Kweisha, the level of neutralizing antibody remains at a high level. The level of neutralizing antibody in vivo could be increased by about 8 times when the inoculation was strengthened by 1 injection. From the results of neutralization antibody crossover test, the current vaccine has protective effect on mutants. CANSINOBIO is also carrying out the development of COVID-19 vaccine for the mutant.

【"Nai Xue's Tea" several stores in Dongguan were inspected and there were problems, and the local municipal supervision bureau urged rectification and reform.】

APP, US-Hong Kong Telecom, recently, the Dongguan Market Supervision and Administration of Guangdong conducted a food safety flight inspection on "02150.HK" restaurants in the area under its jurisdiction, and found that many stores had problems such as "stagnant water in food handling areas", "unclassified storage of food and non-food", "unimplemented health management of employees and self-inspection of food safety" and other problems, which have been followed up by the local market supervision bureau to urge rectification. According to the Dongguan Municipal Market Regulatory Bureau on August 5, Dongguan conducted the above-mentioned inspection on August 3, inspecting and notifying 52 inspection items in 16 categories, such as the license, location and storage of raw materials of 7 "Nai Xue's Tea".

[medium-term profit attributable to shareholders of China Xinlianxin Chemical Fertilizer increased by 258.36% to 646 million yuan compared with the same period last year]

China Xinlianxin Chemical Fertilizer (01866.HK) released interim results for the six months ended June 30, 2021, in which the group earned revenue of about 7.573 billion yuan (the same unit below), an increase of 53.31% over the same period last year; profit attributable to parent company owners was 646 million yuan, up 258.36% from the same period last year; and basic and diluted earnings per share were 55.1 cents. Profit in the first half of 2021 increased by about 237% year-on-year to about 889 million yuan, mainly due to an increase in gross profit of about 1.056 billion yuan, the announcement said. The increase in profit during the period was partly offset by an increase of $82 million in sales and distribution expenses, an increase of $90 million in general and administrative expenses, an increase in financial costs of about $80 million, an increase in income tax expenses of about $133 million and a decrease in other income of $46 million.

[Yuexiu Real Estate contract sales of 52.516 billion yuan in the first seven months increased by 19% compared with the same period last year]

Yuexiu Real Estate (00123.HK) announced that in July 2021, the amount of contract sales (together with the contract sales of joint venture projects) was about 5.133 billion yuan, down about 20% from the same period last year, and the contract sales area was about 196600 square meters. From January to July 2021, the company's cumulative contract sales (together with contract sales of joint venture projects) was about 52.516 billion yuan, an increase of 19% over the same period last year, with a cumulative contract sales area of about 1.9882 million square meters.

[Guangzhou Automobile Group's car sales increased by 19.68% in the first seven months compared with the same period last year]

Guangzhou Automobile Group (02238.HK) announced that the company's car production in July 2021 was 163700, down 19.10% from the same period last year, and its cumulative production from January to July in 2021 was 1.165 million, up 16.56% from the same period last year. Car sales in July 2021 were 180500, down 1.86% from the same period last year, and 1.207 million from January to July in 2021, an increase of 19.68%.

[China Bolton expects full-year net profit to grow by more than 40% year on year]

Bolton of China (03318.HK) announced that the group expects net profit to grow by more than 40 per cent year-on-year for the fiscal year ending June 30, 2021.

[Shimao Group's contract sales of 174.88 billion yuan in the first seven months rose 25% from a year earlier]

Shimao Group (00813.HK) released certain unaudited operating data of the Group for the seven months ended July 31, 2021. From 2021 to July, the Group's contract sales were about RMB 22.08 billion, with a contract sales area of 1.2366 million square meters. The average selling price from 2021 to July is 17860 yuan per square meter. For the seven months ended July 31, 2021, the total cumulative contract sales of the Group was about 174.88 billion yuan, and the total contract sales area of the Group was 9.8464 million square meters, up 25% and 24% respectively over the same period last year. The average selling price for the seven months ending July 31, 2021 is RMB 17761 per square meter.

Selected analysis

[Guotai Junan: the market of science and technology growth is not over]

Guotai Junan Securities believes that from a historical review, the symbol of the end of the technological growth market lies in the destruction of its own profit cycle or changes in the liquidity expected environment. Looking back, on the one hand, the business cycle of science and technology growth continues to be upward, and the high boom shown in the second quarter performance forecast is expected to continue; on the other hand, it is difficult to reverse easing under the pressure of stable growth in the second half of the year, and the liquidity expectation environment is still friendly to science and technology growth. Therefore, it is inevitable for the current science and technology growth to fluctuate and enlarge with the rising market, but it is never the end. In addition, the problem that the structure of technological growth chips tends to be concentrated deserves attention, and the crowded trading is also forcing us to look for other good directions. In addition to the growth of science and technology, the cyclical growth varieties with excellent performance-to-price ratio of earnings valuation and the securities firms with no room for downward are worthy of attention.