Futu News On May 16, the main indices of Hong Kong stocks fluctuated higher in early trading. As of press release, the Hang Seng Index rose 1.37%, the China Index rose 1.63%, and the Science Index rose 0.94%.
On the sector side, domestic housing stocks rose strongly, with COSCO Group rising more than 46%, Shimao Group rising more than 27%, and Xuhui Holding Group rising more than 21%.
Property management stocks followed the strengthening of domestic housing stocks. Greentown Services rose more than 16%, Shimao Services rose more than 15%, and Ocean Services rose more than 11%.
Bank stocks rose one after another. China Construction Bank rose more than 5%, China Merchants Bank and Industrial and Commercial Bank rose more than 4%, and Bank of Jiangxi rose 4%.
Insurance stocks generally rose. China Taiping rose more than 5%, China Taibao rose more than 4%, and China Life Insurance, China Ping An, and Xinhua Insurance all rose more than 3%.
Auto stocks fell more or less, Ideal Auto fell more than 3%, Brilliance China and Zero Sports Auto fell more than 2%, and BYD shares, NIO, and Geely Auto fell more than 1%.
Gold stocks generally rose. Lingbao Gold rose more than 5%, China Gold International rose nearly 5%, and Zhaojin Mining rose more than 2%.
In terms of individual stocks,$TENCENT (00700.HK)$Up more than 4%, J.P. Morgan said Tencent had positive results in the first quarter, raised the target price to HK$480, and maintained its “gain” rating.
$BABA-SW (09988.HK)$With a drop of nearly 3%, Goldman Sachs slightly raised Ali's target price from 102 yuan to 103 yuan, maintaining a “buy” rating.
$MMG (01208.HK)$With an increase of more than 4%, the company was included in the MSCI China Index. The results of this adjustment will take effect after closing on May 31.
$ZTO EXPRESS-W (02057.HK)$It rose more than 7%. Adjusted net profit for the first quarter increased 15.8% year-on-year to 2,224 billion yuan, and the number of packages reached 7.171 billion.
Editor/Jeffy