Futu News reported on April 3 that the three major indices of Hong Kong stocks fell collectively. At the close, the Hang Seng Index fell 1.22%, the Science Index fell 2.32%, and the National Index fell 1.44%.
By the close, Hong Kong stocks had risen 713, down 1,166, and closed at 1,064.
The specific industry performance is as follows:
On the sector side, TechNet stocks weakened across the board. Xiaomi fell more than 4%, Meituan and Bilibili fell more than 2%, Kuaishou fell nearly 2%, JD and NetEase fell more than 1%, Ali and Baidu fell by nearly 1%, and Tencent fell slightly.
Auto stocks declined. Ideal Auto and Xiaopeng Motors fell more than 5%, NIO fell nearly 5%, BYD fell more than 2%, and Geely fell nearly 2%.
Domestic housing stocks and property management stocks declined. Vanke Enterprise and Longhu Group fell more than 4%, Sunac Services fell nearly 4%, China Resources Land fell nearly 3%, Sun Hung Kai Properties fell more than 2%, and China's overseas development fell nearly 1%.
Gold stocks rose against the market. Zhaojin Mining rose more than 6%, Zijin Mining rose nearly 4%, and Shandong gold rose more than 2%.
Copper stocks generally rose, Minmetals Resources rose more than 11%, Jiangxi Copper shares rose more than 6%, and China Nonferrous Mining and Wanguo International Mining rose more than 3%.
Most coal stocks strengthened, with Shougang Resources up more than 5%, China Coal Energy by nearly 4%, Yankuang Energy by more than 3%, and Yancoal Australia by more than 2%.
In terms of individual stocks,$LI AUTO-W (02015.HK)$The decline was more than 5%. Wang Xing continuously reduced his holdings and cashed out more than HK$500 million. The agency said that pessimistic expectations had been fully released.
$ALI HEALTH (00241.HK)$With a drop of more than 3%, the agency indicated that its online drug sales are slowing down, and the long-term prospects may face challenges.
$MMG (01208.HK)$With an increase of more than 11%, the agency expects the 24Q1 copper performance to rise.
$CHINA SUNTIEN (00956.HK)$With an increase of more than 6%, the company's performance last year was in line with expectations, and overall gas sales are expected to maintain a high growth rate.
$TUHU-W (09690.HK)$It rose nearly 11%, and the first “tire trade-in” plan was jointly announced. The company's performance last year exceeded expectations.
Today's top 10 Hong Kong stock turnover
Hong Kong Stock Connect Capital
On the Hong Kong Stock Connect side, today's net inflow of Hong Kong Stock Connect (southbound) was HK$5.124 billion.
Agency Perspectives
Damo: Giving BOCHK a “In sync with the market” rating, the target price is HK$22.2
Morgan Stanley released a research report saying,$BOC HONG KONG (02388.HK)$After the results, the target price was maintained at HK$22.2. The rating was “in sync with the market”, and most of the earnings estimates remained unchanged. In the second half of last year, the company's net interest income was in line with expectations. The net interest spread was 2% lower than the bank's forecast but 1% higher than market expectations; due to the good performance of non-interest income, the non-interest income ratio exceeded expectations.
Citibank: Maintains China Liansu's “Buy” rating and reduces target price to HK$7.5
Citi released a research report saying that since profits are expected to recover this year, it will be maintained$CHINA LESSO (02128.HK)$The “buy” rating lowered the earnings forecast for this year and next by 14% to 19%, and the target price was lowered from HK$9 to HK$7.5. The company's performance fell short of expectations, and gross profit is expected to be low due to weak industry demand, and sales growth will also slow.
Lyon: Maintaining Ali Health's “Buy” Rating, Target Price Reduced to HK$4.1
Lyon released a research report saying that it was lowered to$ALI HEALTH (00241.HK)$The target price was reduced from HK$5.6 to HK$4.1, maintaining the “buy” rating. The bank expects Alibaba Health to face a higher base effect than expected in the second half of fiscal year 2024. Revenue is expected to fall 19% year on year, and adjusted net profit is expected to drop 12% year on year. It also pointed out that Alibaba Health's business growth should be normalized in February of this year. Revenue and adjusted net profit for fiscal year 2025 are expected to increase by more than 16% and 70% respectively, benefiting from Ali Mama's advertising platform sharing advertising revenue.
Edit/Cynthia