Futu News reported on January 29 that the three major indices of Hong Kong stocks fluctuated and closed higher. The Hang Seng Index rose 0.78%, the Science Index rose 0.54%, and the National Index rose 0.91%.
By the close, Hong Kong stocks had risen by 974, down 950, and closed by 1004.
The specific industry performance is as follows:
On the sector side, TechNet stocks generally rose, Alibaba and JD rose more than 2%, Baidu rose nearly 2%, NetEase and Bilibili rose more than 1%, and Meituan and Xiaomi rose nearly 1%.
Domestic housing stocks and property management stocks had mixed ups and downs. China Resources Land rose more than 2%, Sunac China rose nearly 2%, Yuexiu Real Estate rose more than 1%, Greentown China fell more than 2%, and Vanke Enterprise fell more than 1%.
Most auto stocks declined, with Zero Sport falling more than 7%, BYD shares falling more than 2%, Great Wall Motors falling more than 1%, and Xiaopeng Motors and Geely falling nearly 1%.
Pharmaceutical stocks have collectively weakened. Pharmaceutical Kangde fell nearly 11%, Pharmaceutical Biotech fell nearly 6%, Kingsley Biotech fell more than 3%, Kangfang Biotech fell nearly 3%, and Pharmaceutical Federation fell more than 2%.
Petroleum stocks were active throughout the day. China Petroleum & Chemical Co., Ltd. rose more than 2%, CNPC rose more than 1%, and CNOOC rose nearly 1%.
Beer stocks rose one after another. Budweiser Asia Pacific rose more than 6%, Tsingtao Brewery shares rose nearly 4%, and China Resources Beer rose more than 2%.
On the other side, sporting goods stocks, gas stocks, Apple concept stocks, catering stocks, coal stocks, and military stocks have risen one after another.
In terms of individual stocks,$WUXI BIO (02269.HK)$It fell close to 6%. The company previously clarified that the description of the company's CEO and executive director Chen Zhisheng's experience in the draft bill was misleading.
$WUXI APPTEC (02359.HK)$It fell nearly 11%, and the company said the draft biosafety law involved company content that was neither appropriate nor accurate.
$CHINA TOWER (00788.HK)$With an increase of more than 8%, Damo believes that the improvement in returns in the telecommunications industry this year has been well received, and reaffirms its attractive views.
$ANTA SPORTS (02020.HK)$With an increase of more than 3%, the health of operating indicators is expected to recover.
$EVERGRANDE (03333.HK)$Trading was suspended by nearly 21%, and a hearing on the winding-up petition was held today.
Today's top 10 Hong Kong stock turnover
Hong Kong Stock Connect Capital
On the Hong Kong Stock Connect side, Hong Kong Stock Connect (southbound) had a net outflow of HK$2,596 billion today.
Agency Perspectives
CITIC Securities: Target price of HK$1.3 for China Tower, depreciation and profit inflection point is approaching
CITIC Securities published a report stating that$CHINA TOWER (00788.HK)$It has the characteristics of a high moat, good cash flow, and strong sustainability. The company's cash flow is excellent and increasing year by year. The large-scale investment period has passed, and the inflection point of depreciation and amortization of existing assets will arrive from 2025 to 2026. At that time, the company's net profit will be in line with free cash flow, and profits are expected to explode.
Bank of America Securities: Maintaining the “Buy” rating of BYD shares, with a target price of HK$300
Bank of America Securities released a research report stating that it will maintain$BYD COMPANY (01211.HK)$“Buy” rating, target price HK$300. The bank said that the company plans to launch fifth-generation plug-in hybrid vehicle (PHEV) technology in 2024, which has stronger power and lower fuel consumption. Its long-term goal is to occupy more than 30% of the Chinese passenger car market. It is expected that the high-end strategy will increase profitability.
Damo: upgraded the rating of Sinopec to “increase holdings”, and the target price was raised to HK$5.06
Damo released a research report saying that the State Assets Administration Commission's emphasis on market value management should trigger$SINOPEC CORP (00386.HK)$After revaluation, the target price was raised from HK$4.32 to HK$5.06. The bank believes that Sinopec will continue to take a series of measures, including dividends, repurchases, cost control and capital expenditure discipline, to maximize shareholder returns.
Edit/Chris