Futu News reported on April 8 that the three major indices of Hong Kong stocks, the Hang Seng Index rose 0.05%, the Science Index fell 0.18%, and the National Index rose 0.09%.
By the close, Hong Kong stocks were up 1,038, down 881, and closed down 1,072.
The specific industry performance is as follows:
On the sector side, the trend of TechNet shares was mixed. Tencent, Baidu, and Meituan fell more than 1%, JD and Xiaomi fell slightly, Bilibili and Ali rose slightly, and NetEase rose 1%.
Auto stocks had mixed ups and downs. Great Wall Motor rose nearly 7%, GAC Group rose nearly 5%, Ideal Auto rose more than 4%, Evergrande Auto fell nearly 10%, and Xiaopeng Motor fell nearly 3%.
Biotech stocks rose more than 11%, Genting Xinyao rose more than 11%, Pharmaceutical Biotech rose more than 5%, Pharmaceutical Kangde and Kangfang Biotech rose more than 3%, and Kingsley Biotech fell nearly 7%.
Power stocks rose strongly. Huaneng International Power rose more than 11%, Datang Power rose nearly 8%, Huadian Power rose more than 7%, and China Resources Electric Power rose more than 3%.
Gold stocks improved. Zhaojin Mining rose more than 6%, Shandong Gold and China Gold International rose nearly 5%, and Zijin Mining declined slightly.
On the other side, pork concept stocks were active throughout the day, while beer stocks, semiconductor stocks, photovoltaic stocks, home appliance stocks, and domestic insurance stocks were mostly underperforming.
In terms of individual stocks,$HUANENG POWER (00902.HK)$It rose more than 11%, and the growth rate of electricity consumption exceeded expectations. Thermal power companies' profits improved dramatically last year.
$SANY INT'L (00631.HK)$With a rise of nearly 16%, profits both increased last year. The policy is expected to help improve domestic demand.
$CHI SILVER GP (00815.HK)$With an increase of more than 104%, the agency said that photovoltaic+AI is driving the growth in industrial demand, and it is expected that silver supply and demand will remain in short supply.
$CHINA RES BEER (00291.HK)$It fell nearly 5%, and many agencies lowered the company's target price after the results.
$EAST BUY (01797.HK)$It fell by more than 9%. Recently, Henan New Oriental Cultural Tourism completely stopped live streaming and made adjustments.
$C&D INTL GROUP (01908.HK)$The decrease was more than 5%. The cumulative contract sales amount for the first three months was about 23.72 billion yuan, a year-on-year decrease of about 32.9%.
Today's top 10 Hong Kong stock turnover
Hong Kong Stock Connect Capital
On the Hong Kong Stock Connect side, today's net inflow of Hong Kong Stock Connect (southbound) was HK$4.748 billion.
Agency Perspectives
Damo: Maintain Hang Seng Bank's “in sync with the market” rating, and reduce the target price to HK$89.7
Dama released a research report saying that it will maintain$HANG SENG BANK (00011.HK)$The “In sync with the market” rating, taking into account Hang Seng's lower profit forecast, the basic situation value was lowered by 8%, and the target price was reduced by 1% from HK$90.5 to HK$89.7. However, due to limited room for rising net spreads and declining credit quality, which drive higher long-term returns, Damo also increased the scenario values of Hang Seng bear and bull markets by 7% and 21%, respectively.
Anxin International: Maintaining Anta Sports' “Buy” Rating, Target Price HK$120
Anxin International released a research report stating that it will maintain$ANTA SPORTS (02020.HK)$The “buy” rating predicts EPS of $4.26/4.88/5.46 for 2024-2026, giving 26 times PE in 2024, with a target price of HK$120. Anta Sports announced financial results for 2023. Revenue increased 16.2% year on year, profit attributable to shareholders (including JV contributions) increased 34.9% year on year, and overall performance exceeded expectations. As a leading enterprise in China's sporting goods industry, the company will give priority to enjoying the dividends brought by the development of the industry.
CITIC Securities: Maintaining NetDragon's “Buy” Rating Target Price of HK$18
CITIC Securities released a research report saying that it maintains$NETDRAGON (00777.HK)$The “Buy” rating was raised to the 2024-2025 EPS forecast to HK$2.04/2.4, taking into account the optimization of the company's sales & management expenses ratio, and added the 2026 EPS forecast to HK$2.55. Furthermore, considering that the company has spun off its overseas education business and went public, a segmented valuation method was used, and a target price of HK$18 was given.
Edit/Cynthia