Futu News reported on May 27 that the three major indices of Hong Kong stocks rose sharply. By the close, the Hang Seng Index had risen 1.17%, the Science Index had risen 1.71%, and the National Index had risen 1.25%.
By the close, Hong Kong stocks had risen 1,207, down 709, and closed at 1,117.
The specific industry performance is as follows:
On the sector side, the trend of TechNet shares was mixed. Bilibili rose nearly 6%, Meituan rose more than 2%, Ali rose more than 1%, Xiaomi, Baidu, Kuaishou, and Tencent rose slightly; NetEase fell nearly 2%, and Jingdong fell slightly.
Semiconductor stocks rose, with Huahong Semiconductor up more than 11%, SMIC up more than 7%, and Fudan, Shanghai up nearly 6%.
Shipping port stocks strengthened collectively. COSCO SHIPPING Ports rose more than 5%, COSCO Maritime Control rose nearly 5%, Orient Overseas International rose more than 4%, and COSCO Marine Energy rose more than 2%.
Gold stocks strengthened. Lingbao Gold rose nearly 6%, Zhaojin Mining rose more than 5%, China Gold International rose more than 4%, and Shandong Gold and Zijin Mining rose more than 3%
Oil and gas stocks rose one after another. CNOOC Services rose more than 5%, CNOOC rose more than 4%, CNPC rose more than 3%, and Sinopec rose nearly 1%.
Many home appliance stocks rose. Hisense Home Appliances rose more than 7%, TCL Electronics rose nearly 6%, Haier Smart Home rose nearly 4%, and JS Global rose nearly 2%.
On the other side, industry sectors such as power stocks, pharmaceutical stocks, and coal stocks have risen one after another; most biotech stocks and gambling stocks have maintained a downward trend.
In terms of individual stocks,$LENOVO GROUP (00992.HK)$It rose nearly 9%. Benefiting from the AI PC wave, Lenovo's stock price hit a one-year high.
$EVERG SERVICES (06666.HK)$An increase of more than 6%,$EVERG VEHICLE (00708.HK)$With an increase of nearly 87%, Evergrande Property may be driven by a sharp rise in the resumption of trading of Evergrande Auto.
$CMGE (00302.HK)$It has risen nearly 22%, and its new game will be launched soon. The company previously reached a strategic cooperation with Chaoceng Group.
$HISENSE HA (00921.HK)$It rose by more than 7%. In April, exports of home appliances surged to overseas, and trade-in for two-wheel drives.
$DONGFANG ELEC (01072.HK)$With an increase of nearly 9%, the wind power industry welcomed a number of favorable policies, and industry bidding activities were frequent.
$CHALCO (02600.HK)$With an increase of more than 8%, the aluminum market may become empty. Rio Tinto previously announced that Australia's supply was blocked.
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$4.425 billion.
Agency Perspectives
Huatai Securities: Maintaining Tongcheng Travel's (00780) “Buy” rating and raising the target price to HK$25.5
Huatai Securities released a research report stating that it will maintain$TONGCHENGTRAVEL (00780.HK)$With the “Buy” rating, the revenue forecast for 2024 to 2026 was adjusted to $183/233.1/29.26 billion, and the adjusted net profit forecast was increased to $27.4/34.3/4.12 billion, and the target price was raised from HK$24.25 to HK$25.5. According to the report, thanks to increased demand for diversified travel experiences, the company achieved revenue of 3.87 billion yuan (same below) in the first quarter, in line with market expectations of 3.74 billion yuan; adjusted net profit margin was 560 million yuan, in line with market expectations of 540 million yuan. The adjusted net profit margin was 14.4%, down 5 percentage points from the previous year, mainly due to the combination of the vacation business. There was a difference in operating profit between the business model and the online travel platform due to different business models.
Damo: Shenglongyuan Power is rated to “increase holdings” with a target price of HK$9.7
Morgan Stanley released a research report saying that due to the Chinese government's investigation of renewable energy subsidies and market concerns about renewable energy price risks,$CHINA LONGYUAN (00916.HK)$The rating has been downgraded since the first half of 2022. The bank believes that the current valuation of Longyuan H shares is equivalent to 0.75 times in 2024 and 0.69 times market account ratios in 2025. The return on equity of 10% to 11% already reflects these factors, so it has been upgraded to an “increase in holdings” rating, with a target price of HK$9.7.
CCB International: Maintaining the Xiaomi Group-W “outperforming the market” rating and raising the target price to HK$23
CCB International released a research report saying that it maintains$XIAOMI-W (01810.HK)$“Outperform the market” rating, the adjusted profit forecast for the 2024-2026 fiscal year was raised by 29%-39%, and the target price was raised by 12.2% to HK$23 from HK$20.5. The bank expects Xiaomi's 2024 and 2025 SU7 deliveries to be 110,000 and 119,000. The bank pointed out that the first quarter of 2024 was a good start to Xiaomi's recovery, and the performance exceeded institutional expectations. Revenue increased 27% year over year to 75.5 billion yuan, gross margin expanded 2.8 percentage points to 22.3%, adjusted operating profit was 4.67 billion yuan, and operating margin was 6.2%. Adjusted net profit rose 101% year over year to 6.5 billion yuan, 27% higher than market consensus.
Edit/Cynthia