Futu News reported on October 24 that the three major Hong Kong stock indices fluctuated and closed down. The Hang Seng Index closed down 1.05%, the Codex fell 1.07%, and the National Index fell 1.23%.
By the close, Hong Kong stocks had risen 677, fell 1,210, and closed 1,082.
The specific industry performance is as follows:
In terms of the sector, Science Network shares generally declined.Kuaishou fell more than 5%, JD fell nearly 3%, Xiaomi and Tencent fell more than 2%, Alibaba fell nearly 2%, NetEase fell nearly 1%, Baidu and Meituan fell slightly, and Bilibili rose slightly.
Auto stocks have had mixed ups and downs.The Great Wall rose more than 3%, Xiaopeng rose nearly 3%, Ideal rose more than 1%, BYD fell more than 2%, NIO fell more than 1%, Geely fell nearly 1%, and closed at zero speed.
The performance of domestic housing stocks is weak,China Evergrande fell more than 8%, Country Garden fell more than 5%, Longhu Group fell nearly 4%, Sunac China fell nearly 3%, China Resources Land fell more than 2%, China Overseas Development fell 2%, and Vanke Company followed suit.
Telecom stocks weakened,China Telecom fell nearly 3%, China Unicom fell more than 2%, and China Mobile fell more than 1%.
Pharmaceutical stocks were strong throughout the day.Gacos rose more than 19%, Corning Jerry Pharmaceuticals rose more than 9%, Chinese traditional Chinese medicine rose more than 7%, BeiGene rose more than 6%, Kangfang Biology and Cinda Biotech rose more than 3%, federal pharmaceuticals rose nearly 3%, and Pharmaceutical Ming Kangde, Rongchang Biotech, Zaiding Pharmaceutical, and Kingsri Biotechnology rose more than 2%.
Other than that, power stocks, petroleum stocks, lithium battery stocks, and home appliance stocks have all declined.
In terms of individual stocks,$POP MART (09992.HK)$It rose nearly 3%, revenue in the third quarter increased by more than 35% year on year, and overseas earnings doubled.
$TRAD CHI MED (00570.HK)$It surged by more than 7%, and the gradual release of national standards combined with the expansion of medical institutions, and the industry is expected to accelerate growth.
$GWMOTOR (02333.HK)$With an increase of more than 3%, the results will be released this Friday. The sales volume for the first three quarters increased 7.69% year-on-year.
$EAST BUY (01797.HK)$It surged by nearly 10%, and the start of the Double Eleven warm-up is expected to usher in a large number of member conversions and a rise in GMV.
$TRIP.COM-S (09961.HK)$With an increase of more than 3%, the company signed a three-year strategic cooperation with the Singapore Tourism Board.
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$2,325 million.
Agency Perspectives
Komo: Maintains China Mobile's “increase in holdings” rating, with a target price of HK$75
According to a research report released by Xiaomo,$CHINA MOBILE (00941.HK)$The results for the third quarter were better than expected. I believe the stock price will respond positively. Maintaining the “increase in holdings” rating, the target price is HK$75. The bank estimates that China Mobile's annual net profit will increase by 7% to 8%, and is optimistic about its attractive 8% dividend rate and decline in capital expenditure, describing it as the most defensive and liquid stock in the sector.
CICC: Maintains China Telecom's “Outperform the Industry” rating, with a target price of HK$5.8
CICC released a research report saying that it maintains$CHINA TELECOM (00728.HK)$“Outperform the industry” rating. Third-quarter revenue and profit were in line with the bank's expectations. Its profit forecast for 2023 and 2024 remains unchanged, with a target price of HK$5.8. According to the report, the company's operating profit for the third quarter increased 15.6% year on year, operating expenses were effectively controlled, and net profit margin increased 0.4 percentage points year on year to 5.6% year on year, mainly benefiting from cost control and improved profitability.
CCB International: Maintains Kuaishou-W's “Outperform Market” rating, target price is HK$95
CCB International released a research report saying that it maintains$KUAISHOU-W (01024.HK)$The “Outperform the Market” rating is expected to increase 30% year-on-year in the third quarter of this year, which is higher than the market growth rate. It is mainly due to increased merchant participation, the platform's provision of competitive products and market share benefits. It is optimistic that it has a strong user base, with a target price of HK$95.
editor/tolk