Hong Kong Quick Watch

Futu Information on April 26 | Hong Kong stocks fell in the afternoon. The Hang Seng Index finally closed up 0.33%, stopping five consecutive declines, while the Hang Seng Technology Index rose 2.87% to return to the 3900-point mark.

As of the close, Hong Kong stocks rose 933, fell 934, and closed flat at 1000.

Plate aspectMost large technology stocks are upNetEase, Inc rose by more than 6%, JD.com Group by more than 5%, Kuaishou Technology by more than 4%, BABA, Bilibili Inc. and Sunny Optical Technology followed suit.

Auto stocks are among the biggest gainers.Li Auto Inc. rose nearly 7%, XPeng Inc. rose more than 6%, BYD and Geely Automobile followed.

Inner housing stocks and property management stocks strengthenXuhui Holdings is up more than 6%, Xuhui Yongsheng service is up more than 5%, and Country Garden Services Holdings is up more than 4%.

Pharmaceutical stocks strengthenTailing Pharmaceuticals rose more than 60%, Shanghai Fosun Pharmaceutical rose more than 7%.

Most financial stocks fellHang Seng Bank, HSBC Holdings PLC and China Merchants Bank fell more than 4 per cent.

Oil stocks and coal stocks fell.CNOOC Limited fell by more than 3%, Petrochina by more than 1%, Yitai Coal by more than 2% and China Shenhua Energy by more than 1%.

Individual stocks$Xuhui Holdings Group (00884.HK) $Up more than 6%, the company announced that 1.6 billion of overseas RMB bonds would be repaid in full. After the completion of this repayment, Xuhui's rigid maturing bonds at home and abroad in 2022 have been cleared.

$Tai Ling Pharmaceutical (01011.HK) $It rose more than 60% and closed down 20% yesterday.

$Li Auto Inc.-W (02015.HK) $It has risen by more than 6%. Recently, the Ministry of Transport and the Energy Bureau and other departments have drafted an action plan to speed up the construction of charging infrastructure along the highway, and are soliciting opinions from all over the country.

$Haidilao International Holding (06862.HK) $It rose more than 4%, narrowed down in the afternoon after rising more than 9% at one point.

Pacific Shipping (02343.HK) $fell more than 4%, the company plans to convert convertible bonds, plans to issue up to 426 million shares, accounting for about 8.83% of the company's issued share capital.

Hong Kong stock exchange fund

As for Hong Kong Stock Connect, there was a net inflow of HK $90 million from Hong Kong Stock Connect (southbound) today.

Today's turnover of Hong Kong shares TOP20

Message surface

Ministry of Transport: an action plan has been drafted to speed up the construction of charging infrastructure along the highway and is soliciting opinions from all over the country.

Data released by the Ministry of Transport today show that at present, 3102 expressway service areas across the country have built recharging infrastructure, and a total of about 13374 charging piles have been built, mainly in the eastern regions such as Beijing-Tianjin-Hebei, Yangtze River Delta, Pearl River Delta and so on. The coverage rate in the western and northeast regions is relatively low. Recently, the Ministry of Transport and the National Energy Administration and other departments have drafted an action plan to speed up the construction of charging infrastructure along the highway, and at present, the action plan is soliciting local opinions.

The central bank responds to financial market volatility: mainly affected by investor expectations and sentiment, it will increase the support of prudent monetary policy to the real economy.

Do you have any comment on the recent volatility in the financial markets? A person in charge of the people's Bank of China said that we are concerned about some recent fluctuations in the financial market, which are mainly affected by investor expectations and sentiment. At present, China's economic fundamentals are good, the potential for endogenous economic growth is huge, and substantial progress has been made in preventing and defusing financial risks. The people's Bank of China will increase the support of prudent monetary policy to the real economy, especially support industries and small and medium-sized enterprises and individual industrial and commercial households seriously affected by the epidemic, support agricultural production and energy supply, launch scientific and technological innovation re-loans and universal pension special re-loans, increase 100 billion yuan of re-loans to support coal development and use and enhance energy storage, and increase agricultural support small re-loans and civil aviation special re-loans. We will maintain reasonable and adequate liquidity, promote the healthy and stable development of the financial market, and create a good monetary and financial environment.

Carrie Lam: the epidemic situation in Hong Kong is good, but vaccination needs to be done.

Hong Kong SAR Chief Executive Carrie Lam said that the number of confirmed cases of novel coronavirus in Hong Kong has continued to decline, and the number of confirmed cases has not exceeded three digits every day in the past 10 days. She was comforted by this, describing the current epidemic situation as good and positive, so that Hong Kong can return to normal. Carrie Lam said that in the past 10 days, a number of surveillance indicators, including sewage monitoring, positive cases found in containment tests, and cases in which nucleic acid tests were positive have all declined. However, at present, the vaccination rate of one child and one child is still not satisfactory. at present, about 400000 people in these two groups have not yet received the first dose of vaccination. the situation is very worrying and members of the public are urged to be vaccinated as soon as possible.

Institutional viewpoint

Moto Tong: the first quarter performance of the three major telecom stocks in the mainland is good, the first choice$China Mobile Limited (00941.HK) $

JPMorgan Chase & Co published a research report saying that in the first quarter, the performance of the three major telecommunications stocks in the mainland improved, revenue growth accelerated, and the momentum of non-traditional fixed-line business was solid. The bank pointed out that telecom stocks have fallen 3% to 6% since April, outperforming the Hang Seng Index by 10% over the same period, believing that due to solid fundamentals and no policy risks, they are defensive in recent market fluctuations and are a relative safe haven. Coupled with attractive valuations, the sector is optimistic about its performance. Moto reiterated$China Mobile Limited (00941.HK) $It is the first choice for the industry, pointing out that its yield reaches 10%, and the growth of dividend payout rate next year is also highly visible. It is expected that H-share buybacks may resume after the first quarter results, providing support for the stock price; the priority of stock selection is China Mobile, with a rating increase of HK $70; followed by$China Telecom Corporation (00728.HK) $, with a target price of HK $3.7; for$China Unicom (00762.HK) $Neutral rating with a target price of HK $4.30.

Moto: maintenance$China Merchants Bank (03968.HK) $Increase the rating with a target price of HK $85

JPMorgan Chase & Co issued a report, referring to$China Merchants Bank (03968.HK) $No quantitative financial guidance has been provided to stabilize market confidence, and it is still a hidden worry about whether the nomination of Wang Liang for president can be approved by the government, which will continue to affect the stock price, but China Merchants Bank's share price was adjusted by 10.3% yesterday, and it is believed that there is limited room for further decline. The bank maintains an overweight rating on China Merchants Bank with a target price of HK $85.

Credit Suisse: maintain$ZTE Corporation (00763.HK) $Outperform the market rating and target price of HK $25.50

Credit Suisse issued a report saying$ZTE Corporation (00763.HK) $First-quarter revenue rose 6.4 per cent year-on-year to 27.9 billion yuan, 6.3 per cent lower than the bank's forecast, while net profit was 84.3 per cent higher than the bank's forecast. According to the report, revenue in the middle and the first quarter accounted for 21.5% of the bank's annual revenue forecast, but under the guidance of the outlook for the average annual compound growth rate of more than 10% of its traditional business, as well as the growth momentum in strategic areas such as servers, storage and terminal equipment, remain optimistic about the forecast. The bank raised its earnings per share forecast for this year and next by 4 per cent and 1 per cent respectively to reflect expectations of higher gross margins and increased research and development, maintaining an outperforming market rating and a target price of HK $25.50 for H shares.

Goldman Sachs Group: maintain$Wuxi Apptec (02359.HK) $Target price of HK $161, rating buy

Goldman Sachs Group published a research report that$Wuxi Apptec (02359.HK) $First-quarter sales grew 71.2 per cent year-on-year and 32.8 per cent quarter-on-quarter, higher than the bank's expectations, mainly driven by strong growth in the chemical business. Excluding the contribution from COVID-19 's commercial projects, sales increased by 40.7% year-on-year during the period. While investors were worried about funding for biotechnology research and development, demand for drug discovery services remained strong during the period, growing at an annual rate of 46.6 per cent, the bank said. The gross profit margin in the first quarter fell slightly to 35.6% on an annual basis, mainly affected by changes in foreign exchange. Goldman Sachs Group slightly raised Wuxi Apptec's earnings per share forecast for 2022 to 2024 by 0.7% to 0.8% to Rmb2.37,2.62 and Rmb3.59 per share, leaving the target price unchanged and rated to buy.