Futu News reported on May 16 that the three major indices of Hong Kong stocks rose sharply. By the close, the Hang Seng Index had risen 1.59%, the Science Index had risen 0.76%, and the National Index had risen 1.93%.
By the close, Hong Kong stocks had risen by 1,212, down 890, and closed at 910.
The specific industry performance is as follows:
On the sector side, the trend of TechNet shares was mixed. Tencent rose nearly 4%, Meituan rose more than 3%, JD and Bilibili rose more than 2%, Kuaishou rose more than 1%, NetEase rose nearly 1%, Ali fell more than 3%, and Xiaomi and Baidu fell nearly 1%.
Domestic housing stocks rose, with Ocean Group up more than 46%, Xuhui Holding Group by nearly 29%, Shimao Group by nearly 18%, Vanke Enterprise by nearly 16%, Longhu Group by nearly 11%, and Sunac China by more than 10%.
Domestic bank stocks improved. China Construction Bank rose more than 6%, China Merchants Bank and Industrial and Commercial Bank rose more than 5%, Bank of China rose nearly 5%, and Agricultural Bank rose more than 3%.
Domestic insurance stocks rose one after another. China Ping An rose more than 7%, China Life Insurance and China Taibao rose more than 6%, China Taiping rose more than 5%, and Xinhua Insurance rose nearly 4%.
Gaming stocks rose sharply. Galaxy Entertainment rose more than 6%, Sands China Limited and Melco International Development rose nearly 2%, Aobo Holdings rose more than 1%, and Wynn Macau rose nearly 1%.
Building materials and cement stocks generally rose. Chinese building materials rose nearly 10%, Conch cement rose more than 8%, China Resources Building Materials Technology rose nearly 7%, Jinyu Group rose more than 6%, and Western cement rose more than 1%.
On the other side, paper stocks, mobile game stocks, gambling stocks, semiconductor stocks, catering stocks, etc. have risen one after another; military stocks, pork concept stocks, automobile stocks, and petroleum stocks have mostly declined.
In terms of individual stocks,$TENCENT (00700.HK)$With an increase of nearly 4%, games resumed growth, WeChat contributed new revenue, and profits continued to rise faster than revenue.
$GALAXY ENT (00027.HK)$It rose more than 6%. Adjusted EBITDA increased 49% year-on-year in the first quarter, and construction of new properties and renovation of existing properties continued to advance.
$SMOORE INTL (06969.HK)$With an increase of more than 6%, South Korea plans to amend the law to control e-cigarettes, and the overseas market compliance process continues to advance.
$XD INC (02400.HK)$With an increase of more than 5%, the “Let's Go Muffin” national service topped the free list, which is expected to drive the company's performance to continue to grow.
$CMOC (03993.HK)$It fell more than 6%, and the company said that the risk of Exxon's hedging trading strategy was completely manageable.
$DONGYUE GROUP (00189.HK)$It rose more than 6%, the average price of refrigerant R32 continued to rise, and overall downstream demand improved.
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 HK$3,973 billion (southbound) was HK$3,973 billion.
Agency Perspectives
Komo: Maintaining Tencent's “Overweight” rating and raising the target price to HK$480
J.P. Morgan Chase released a research report saying, considering$TENCENT (00700.HK)$Steady performance, healthy growth prospects, strong capital returns to shareholders, and attractive valuations indicate that they are still optimistic about Tencent. The target price was raised from HK$410 to HK$480, maintaining the “Overweight” rating.
Yamato: Maintains Alibaba-SW “Buy” rating and reduces target price to HK$98
Yamato released a research report stating that it maintains$BABA-SW (09988.HK)$The “buy” rating lowered the company's earnings forecast per share for the current fiscal year and next by 4%. Based on its continued spending on the Aotian Group and international e-commerce business to seek market share, the target price was lowered from HK$103 to HK$98. The company's revenue for the fourth fiscal quarter of fiscal year 2024 was in line with expectations, but non-GAAP EBITA (non-GAAP EBITA) fell 7% below market expectations, mainly because the company continued to compete for investment in users and cloud businesses.
Goldman Sachs: Reiterates Yuyuan Group's “Buy” Rating and Raises Target Price to HK$19
Goldman Sachs released a research report saying, based on$YUE YUEN IND (00551.HK)$The OEM business showed strong profit performance and decided to raise its net revenue forecast for the 2024-2026 fiscal year by 8% to 11%. The bank indicated that Yuyuan's management plans to maintain a stable dividend ratio and estimates its yield of around 8%. Based on the above factors, the bank raised the target price of Yuyuan from HK$14.2 to HK$19 and reaffirmed the “buy” rating.
Edit/Cynthia