Futu News reported on April 3 that the three major Hong Kong stock indices had mixed ups and downs. The Hang Seng Technology Index once fell by more than 1%, but it picked up strongly at the end of the session. The Hang Seng Index eventually rose 0.04%, the Hang Seng Technology Index fell 0.03%, and the national index fell 0.41%.
By the close, Hong Kong stocks had risen 929, fell 952, and closed at 1,117.
The specific industry performance is as follows:
In terms of the sector, Science and Network stocks were weak throughout the day.Weibo fell nearly 10%, Bilibili fell more than 4%, Kuaishou fell more than 3%, Meituan fell more than 2%, Alibaba and Jingdong fell more than 1%, and NetEase and Tencent rose slightly.
Semiconductor stocks picked up in the afternoon.Hongguang Semiconductor rose more than 10%, SMIC rose more than 7%, Huahong Semiconductor rose nearly 6%, and Shanghai Fudan rose more than 3%.
ChatGPT concept stocks have had mixed ups and downs.Jin Shanyun once again soared more than 30%, Shang Tang rose more than 8%, Reading Wen Group rose slightly, and Baidu and Meitu companies fell more than 2%.
Gaming stocks were strong throughout the day,Wynn Macau rose nearly 9%, MGM China rose more than 7%, Sands China Limited and Australian Expo Holdings rose more than 6%, and Galaxy Entertainment and City of Dreams developed more than 5%.
Most Chinese brokerage stocks have risen,Orient Securities rose more than 6%, while Everbright Securities, GF Securities, and Haitong Securities rose more than 3%.
On the other hand, Ziguang and SaaS concept stocks rose collectively; telecommunications services stocks rose slightly; oil stocks declined somewhat in the afternoon; gas stocks, shipping and port stocks, and gold and precious metals stocks were weak throughout the day.
In terms of individual stocks,$SENSETIME-W (00020.HK)$It rose more than 8%, and the company said it will use general artificial intelligence (AGI) as its core development strategy in the future.
$TVB (00511.HK)$It fell by more than 14%. Recently, shareholders' holdings were continuously reduced. The total investment involved exceeded HK$270 million.
$TIANQI LITHIUM (09696.HK)$After performance, it rose more than 6%, and profit attributable to shareholders for the whole year increased 5.5 times over the same period last year.
$SMIC (00981.HK)$It has risen more than 7%. Agencies say ChatGPT has spawned new demand for AI, and hardware is expected to take the lead.
Today's Top 20 Hong Kong Stock Turnovers
Hong Kong Stock Connect Capital
In terms of Hong Kong Stock Connect, Hong Kong Stock Connect (southbound) had a net inflow of HK$5.241 billion today.
Agency Perspectives
Lyon: Vanke lowered its target price to HK$12.8, outperforming the market
Lyon released a research report saying that it will$CHINA VANKE (02202.HK)$The rating was downgraded from “buy” to “outperform the market”. Although its solid balance sheet can withstand market uncertainty, there was no short-term stock price catalyst, and the target price was lowered from HK$23.2 to HK$12.8. The company's contract sales have declined since this year. Coupled with a decrease in unrecorded sales, the pressure on earnings has increased. However, a possible spin-off of the rental housing and logistics real estate business in the form of REITs will provide limited support for the company's valuation.
Yamato: Raise Haier Smart Home's target price to HK$27.5, rating buy
Yamato released a research report saying, “Reiterating$HAIER SMARTHOME (06690.HK)$The “buy” rating lowered earnings forecasts per share by 2% to 3% for this year and next year, and raised the target price from HK$26.6 to HK$27.5. It is believed that although its subsidiary Casarte (Casarte) fluctuated in the fourth quarter of last year, it is still at the core of its high-end strategy. With its exquisite product and channel structure, I believe it can fully prepare for this year's strong development.
Bank of America Securities: Lowering Haidilao's target price to HK$23.4, rating neutral
According to the Bank of America Securities report,$HAIDILAO (06862.HK)$Last year's performance was in line with Yingxi's forecast, with earnings of 1.37 billion dollars last year. The bank reduced its target price from 24.6 yuan to 23.4 yuan based on the cash flow discounting method. Currently, its stock price is equivalent to predicting a price-earnings ratio of 37 times this year, which is 31 times higher than the average of its peers in the restaurant industry. Under the normal profit margin assumption, the current price is still equivalent to 24 times the price-earnings ratio. Considering growth prospects, the bank believes the valuation is reasonable. The neutral rating was reiterated. The bank pointed out that most of the improvement in profit margins last year came from employee costs. The number of employees is closely related to store traffic, and it is believed that when sales pick up, the operating leverage of employee costs is limited. Furthermore, management remains conservative in terms of store expansion and has not provided clear guidelines for opening stores, making the company less predictable compared to other peers.
Editor/hoten