Futu News reported on May 13 that the three major indices of Hong Kong stocks rose sharply. By the close, the Hang Seng Index had risen 0.80%, the Science Index had risen 1.42%, and the National Index had risen 0.64%.
By the close, Hong Kong stocks had risen 1,197, down 835, and closed at 978.
The specific industry performance is as follows:
On the sector side, many shares of TechNet rose. Bilibili rose more than 6%, Ali rose more than 4%, Meituan rose more than 3%, JD rose more than 2%, Tencent rose nearly 2%, and Kuaishou and Baidu rose slightly.
Biotech stocks had mixed ups and downs. Yao Ming Union fell more than 9%, Jinsirui Biotech fell nearly 5%, Pharmaceutical Ming Biotech fell more than 3%, Jinxin Fertility rose nearly 7%, Pharmaceutical Kangde rose more than 4%, and Zaiding Pharmaceutical rose nearly 4%.
Electricity stocks rose one after another. Huadian International rose nearly 8%, Huaneng International rose more than 4%, China Resources Electric Power rose nearly 2%, and China Electric Power rose more than 1%.
Shipping stocks rose, with Dongfang Overseas International, COSCO Maritime Control, and COSCO Marine Energy up nearly 6%, COSCO Haifa up more than 5%, Haifeng International up nearly 4%, and Sinotrans up more than 3%.
Chinese brokerage stocks generally rose; China Financial Corporation rose nearly 6%, China Galaxy rose more than 3%, Guolian Securities rose nearly 3%, CITIC Securities rose more than 2%, and CITIC Construction Investment Securities rose nearly 2%.
On the other side, gambling stocks, Apple concept stocks, photovoltaic stocks, mobile game stocks, restaurant stocks, and airline stocks have risen sharply; most domestic housing stocks have weakened.
In terms of individual stocks,$BILIBILI-W (09626.HK)$With an increase of more than 6%, the agency expects strong growth in its advertising business in the first quarter.
$GCL TECH (03800.HK)$With an increase of more than 8%, the quality of granular silicon has improved markedly, and the industrialization process of perovskite is expected to accelerate.
$CHINA TAIPING (00966.HK)$With an increase of more than 6%, life insurance interest spreads are expected to ease. Institutions say there is more room for repair in Hong Kong stock non-bank valuations.
$U-PRESID CHINA (00220.HK)$With an increase of more than 6%, profit performance in the first quarter was impressive, and Daiwa raised its rating and target price.
$TONGCHENGTRAVEL (00780.HK)$With an increase of nearly 7%, the penetration of online travel has increased, and organizations are optimistic about the company's performance in the first quarter.
$AVICHINA (02357.HK)$With an increase of more than 6%, various regions are expected to introduce supporting policies to support low-altitude economic development one after another.
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$8.807 billion.
Agency Perspectives
Lyon: Maintains Kuaishou-W “Buy” rating, target price HK$83
Lyon released a research report saying, maintain$KUAISHOU-W (01024.HK)$“Buy” rating, target price HK$83. The bank expects that Kuaishou's first quarter results will be steady. Total revenue will increase 15% year over year to RMB 29 billion, and adjusted Ebit will reach RMB 3.6 billion, compared to only RMB 200 million in the same period last year. The e-commerce business remains the main engine of growth, and the bank is expected to maintain strong 29% year-over-year growth, leading to a 40% year-over-year increase in e-commerce advertising and commissions.
Damo: Giving Greentown China an “additional” rating, with a target price of HK$8.26
Morgan Stanley released a research report saying it believes$GREENTOWN CHINA (03900.HK)$The stock price has about 70% to 80% chance of outperforming its peers within 30 days, giving it a target price of HK$8.26 and a “gain in weight” rating. The bank expects Greentown China's dividend rate to reach a high level of 7% to 9% from 2024 to 2026, and will benefit from potential dividend tax exemptions from southbound dividend tax.
CICC: Maintaining Tep International's “Outperforming Industry” rating, target price raised to HK$6.58
CICC released a research report saying that it maintains$XTEP INT'L (01368.HK)$“Outperform the industry” rating. Considering that the company's transactions have not yet been implemented, the company's 2024/25 EPS forecast of 0.45/0.52 yuan is maintained for the time being. The target price was raised by 20% to HK$6.58, taking into account the company's plans to divest loss-making businesses to boost market confidence. The company announced that it plans to sell KP Global, which owns the Gashway and Palatin brands, to the controlling shareholder Ding's family for US$151 million. Pending completion of the sale, the company plans to declare a special dividend of US$151 million.
Edit/Cynthia