Futu News reported on September 27 that the three major Hong Kong stock indices fluctuated and rose. The Hang Seng Index closed up 0.83%, the Codex rose 0.43%, and the National Index rose 0.65%.

By the close, Hong Kong stocks had risen 870, fell 905, and closed 1,191.

The specific industry performance is as follows:

On the sector side, the Science and Technology Network stock rose slightly.Meitu rose more than 4%, Bilibili and Kuaishou rose nearly 2%, JD, Alibaba, and Tencent rose nearly 1%, Baidu rose slightly, and NetEase and Meituan fell more than 1%.

Auto stock trends diverge,Weilai rose nearly 3%, zero surged nearly 1%, Geely and Xiaopeng rose slightly, ideally settled, BYD fell nearly 1%, and the Great Wall fell slightly.

Domestic housing stocks and property management stocks have weakened again.Xuhui Holding Group fell more than 58%, Xuhui Yongsheng Services fell more than 57%, China Evergrande fell nearly 19%, Sunac China and Sunac Services fell more than 4%, Country Garden fell more than 2%, Country Garden Services fell more than 1%, and Longhu Group fell nearly 1%.

Pharmaceutical stocks are rising one after another,Federal Pharmaceuticals rose by more than 8%, Pharmaceutical Ming Kangde and Tiger Pharmaceuticals increased by nearly 8%, Kingsri Biotech rose by more than 7%, Cinda Biotech rose nearly 7%, Zaiding Pharmaceutical rose more than 5%, Rongchang Biotech rose more than 4%, and Cansino Biotech and Pharmaceuticals rose nearly 4%.

Petroleum stocks have been built well,Sinopec rose more than 2%, while CNPC and CNOOC rose more than 1%.

Domestic insurance stocks are in demand,AIA rose nearly 4%, Prudential and China Life Insurance rose nearly 2%, China Financial Insurance rose more than 1%, China Taiping rose nearly 1%, and China Ping An rose slightly.

On the other hand, the National Day box office may have set records, and movie concept stocks continued to be active; the rise in most major financial stocks and mid-cap stocks helped the market rebound; military stocks fell significantly; and non-ferrous metal stocks such as gold performed sluggishly throughout the day.

In terms of individual stocks,$SINOPEC CORP(00386.HK)$It rose by more than 2%, with low inventories and insufficient supply underpinning oil prices.

$INNOVENT BIO(01801.HK)$The increase of nearly 7% hit a four-month high. The agency claims that mastridopeptide is the most rapidly progressing GLP1 dual-target drug produced in China.

$WUXI BIO(02269.HK)$With an increase of nearly 4%, the first independent vaccine CDMO base of the joint venture Yaomingheide was officially put into operation.

$NEW ORIENTAL-S(09901.HK)$It has increased by more than 7%, and misinterpretations of out-of-school training departments will be completely banned from October 15.

$MEITU(01357.HK)$It has increased by more than 4%. Recently, the “AI calligraphy and drawing” function was launched, and the video and design product business is growing strongly.

$CIFI HOLD GP(00884.HK)$After the resumption of trading, it fell by more than 58%. The Group achieved revenue of RMB 47.44 billion in 2022, a year-on-year decrease of 56%.

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$3,682 billion.

Agency Perspectives

• CICC: Ali Mama's in-depth advertising cooperation with Tencent is beneficial to mutual benefit and win-win situation. Ali and Tencent are rated as “outperforming the industry”

CICC released a research report saying it reiterated$TENCENT(00700.HK)$“Outperform the industry” rating, target price HK$475; also maintained$BABA-SW(09988.HK)$“Outperform the industry” rating, target price HK$137. On September 25, Ali Mama UD and Tencent Advertising announced further deepening cooperation, achieving a direct connection between WeChat and Taobao advertising traffic, and launching the “Double 11 Super Launch Plan.” Tencent and Ali are substantively connected to the ecosystem, and core business cooperation has been further deepened.

• Yamato: Reiterates New Oriental-S “buy” rating and raises target price to HK$48

Yamato released a research report stating that based on strong demand, it reiterated$NEW ORIENTAL-S(09901.HK)$The “buy” rating raised the profit forecast for the 2024-25 fiscal year by 1% to 4%, and raised the target price from HK$46 to HK$48. Looking ahead to the second quarter of fiscal year 2024, the bank's estimates are based on$EAST BUY(01797.HK)$On a high base for the live streaming business, the company's revenue growth for the 2024 fiscal quarter will fall back from the first quarter, or increase 29% year-on-year to US$822 million, with an operating profit margin of 6.4%.

• Goldman Sachs: Maintains aggressive “buy” rating and lowers target price to HK$7.5

Goldman Sachs released a research report saying that it maintains$TOPSPORTS(06110.HK)$The “buy” rating lowered the net profit forecast for 2024-25 by 11% to 13%, reflecting uncertainty in the macro environment, and lowered its target price from HK$8.2 to HK$7.5. The mainland sportswear market remains rugged, with different brands performing differently, but leading companies are doing well in managing profits, inventory and discounts.

editor/tolk