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Afternoon review of Hong Kong stock market

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港市速睇 | 港股全天弱势，科指跌近2%；汽车股、地产股多数走低，蔚来跌近12%，中国恒大跌超9%

A quick look at the Hong Kong market | Hong Kong stocks were weak throughout the day, with the CoE Index falling nearly 2%; most auto stocks and real estate stocks fell, NIO fell nearly 12%, and China Evergrande fell more than 9%

Futu News ·  09/20 16:24

Futu News reported on September 20 that the three major Hong Kong stock indices fluctuated and weakened. The Hang Seng Index closed down 0.62%, the Codex fell 1.58%, and the National Index fell 0.86%.

By the close, Hong Kong stocks had risen 599, fell 1,220, and closed 1,140.

The specific industry performance is as follows:

On the sector side, science network stocks have generally declined.NetEase fell more than 3%, Kuaishou fell nearly 3%, Meituan fell more than 2%, Baidu and Bilibili fell nearly 2%, JD and Tencent fell more than 1%, and Alibaba fell slightly.

The majority of automobile stocks declined.NIO plummeted nearly 12%, Xiaopeng fell nearly 6%, Geely and Great Wall fell nearly 2%, Zero Run fell more than 1%, BYD fell nearly 1%, and ideally rose more than 1%.

Real estate stocks and property management stocks weakened,Ocean Group rose nearly 4%, Country Garden rose nearly 1%, China's overseas development rose slightly, China Evergrande fell more than 9%, Country Garden services fell nearly 3%, Longhu Group fell nearly 2%, Sunac China fell more than 1%, Sun Hung Kai assets fell nearly 1%, and China Resources Land and Vanke Company declined slightly.

Biotech concept stocks were weak throughout the day.BeiGene fell nearly 5%, Rongchang Biotech fell nearly 4%, Pharmaceutical Biotech fell more than 3%, Tiger Pharmaceuticals and Kingsree Biotech fell more than 2%, and Cansino Biotech fell nearly 2%.

The trend of Apple's concept stock is weak,Shunyu Optical Technology fell more than 5%, Ruisheng Technology fell more than 2%, and Gaowei Electronics and BYD Electronics rose slightly.

Petroleum stocks rose slightly.CNPC rose more than 1%, CNOOC rose slightly, and Sinopec fell nearly 1%.

Insurance stocks increased in the afternoon.China Life Insurance and Manulife Financial rose nearly 1%, while AIA and Prudential rose slightly.

Other than that, restaurant stocks have declined significantly, leading 100 billion dollars$HAIDILAO(06862.HK)$Decreased by more than 1%; sporting goods stocks, mobile game stocks, power stocks, etc. fell one after another; film and television entertainment stocks$ALI PICTURES(01060.HK)$It bucked the trend and closed by more than 5%, and the company won Barley Net for 167 million US dollars; port shipping stocks and traditional Chinese medicine stocks partially rose.

In terms of individual stocks,$JIUMAOJIU(09922.HK)$The decline of more than 4% hit a new low of more than 3 years, and the growth rate of food and beverage revenue continued to slow in August.

$NIO-SW(09866.HK)$With a sharp drop of nearly 12%, the company plans to issue $1 billion convertible senior bonds.

$XPENG-W(09868.HK)$The price of the new G9 fell nearly 6%, and the sales price of the new G9 dropped by nearly 50,000 yuan. Institutions expect their Q3 gross margin to continue to be under pressure.

$EAST BUY(01797.HK)$It fell by more than 5%. Recently, controversy has arisen due to the anchor's inappropriate remarks. The agency says its revenue for the second half of the year is under pressure.

$EVERGRANDE(03333.HK)$It fell more than 9%, and Citi sharply lowered its target price to HK$0.5.

$SUNNY OPTICAL(02382.HK)$The drop of more than 5% led the decline in the mobile phone industry chain. Agencies expect iPhone 15 sales to fall short of the previous generation.

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) today had a net inflow of HK$3.2 billion.

Agency Perspectives

  • Yamato: Reiterates the positive view of the mainland Internet industry and recommended “buying” Tencent, NetEase - S, etc.

Yamato released a research report stating that it reiterated the positive views of the mainland Internet industry and recommended “buy” one by one$TENCENT(00700.HK)$,$NTES-S(09999.HK)$,$PDD Holdings(PDD.US)$,$Vipshop(VIPS.US)$,$KUAISHOU-W(01024.HK)$. On the side of Tencent and NetEase, game revenue growth is expected to accelerate in the next few quarters; Pinduoduo is well positioned to earn market share; and there is potential room for profit growth for Vipshop and Kuaishou in the second half of the year.

  • Dongwu Securities: Maintains Xiaopeng Motor-W's “buy” rating, target price is HK$197

Dongwu Securities released a research report saying that it maintains$XPENG-W(09868.HK)$The “buy” rating takes into account the advanced capabilities of intelligent driving algorithms and continued fees for long-term software supply. It is believed that it should enjoy a higher valuation. The target price is HK$197.

  • UBS: Downgraded China's Shenhua rating to “sell”, target price reduced to HK$20

UBS released a research report saying,$CHINA SHENHUA(01088.HK)$Profit defense brought about by contract sales exposure is low, and under high valuations, it is also more hit by falling coal prices. The downside in profits cannot be ignored. Therefore, the rating was downgraded from “neutral” to “selling”, and the target price was lowered from HK$23 to HK$20. The company predicts a dividend rate of only 9% this year and next, which is lower than other high-yielding H-share peers.

editor/tolk

The translation is provided by third-party software.


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