On June 4th, Futu News reported that the three major stock indexes in Hong Kong all rose. At the close, the Hang Seng Index rose 0.22%, the Technology Index rose 0.32%, and the Mainland Index rose 0.34%.
At the close, 1157 stocks on the Hong Kong stock market rose, 791 stocks fell, and 1070 stocks remained unchanged.
See the specific performance of each industry in the following chart.
In terms of sectors, network technology stocks diverged, with Meituan up more than 4%, Tencent and JD.com slightly up; Bilibili, Xiaomi, Baidu, and Kuaishou down nearly 1%, Netease and Alibaba slightly down.
Biotechnology stocks rose, with Genscript Biotech up more than 10%, Zai Lab up nearly 8%, WuXi Biologics up more than 4%, WuXi AppTec up nearly 4%, BeiGene up more than 3%, Akeso slightly up.
Several nonferrous metals stocks rose, with Zhaojin Mining up nearly 5%, Aluminum Corporation of China up more than 4%, China Hongqiao up more than 2%, and CMOC Group Limited up nearly 1%.
Real estate stocks generally rose, with Radiance Holdings up nearly 21%, Sino-Ocean GP up more than 16%, Yuexiu Property and Shimao Group up more than 8%, China Vanke up more than 7%, and China RES Land up nearly 4%.
Pharmaceutical stocks rose across the board, with Innovent Bio up nearly 7%, Fosun Pharma up more than 6%, CSPC Pharma up nearly 3%, and Sino Biopharm up nearly 2%.
Coal industry stocks fell, with Yankuang Energy down more than 9%, China Coal Energy down nearly 2%, Yancoal Aus and China Shenhua Energy down more than 1%.
In other areas, electric power stocks, consumer electronics stocks, sporting goods stocks, defense stocks, and heavy equipment stocks mostly rose; copper mining stocks fell, and yesterday's strong performance of autos stocks was lackluster.
In terms of individual stocks,$GENSCRIPT BIO (01548.HK)$Legend Biotech rose more than 10% after the release of the phase II study results for its bone marrow cancer drug at ASCO and EHA.
$YUEXIU PROPERTY (00123.HK)$Yuexiu Capital plans to increase its shareholding by no more than 2%, and major shareholders remain bullish about the company's intrinsic value, with Radiance Holdings up more than 8%.
$CHINA MER PORT (00144.HK)$China Merchants Port rose more than 6%, as UBS Group stated that port fees may be raised next year and institutions believe that throughput growth may be restored.
$CHINA LONGYUAN (00916.HK)$China Longyuan Power rose nearly 5% after the release of the energy-saving and carbon-reduction action plan, with Hifuture Construction expected to accelerate.
$ND PAPER (02689.HK)$NIO Inc. fell more than 11% after announcing the issuance of $400 million of perpetual capital certificates with an annual interest rate of up to 14%.
Today's top 10 Hong Kong stock turnover
Hong Kong Stock Connect Fund
As for the Hong Kong Stock Connect, as of today, the net inflow is HKD 8.823 billion.
Institutional perspective
CICC maintains a 'outperform' rating on NIO-SW and a target price of HKD 62.
CICC released a research report, maintaining a "outperform" rating on NIO (09866.HK), with a target price of HKD62. As of May, the company has delivered 20,544 vehicles, and its battery swapping system received a strategic investment of CNY1.5 billion from Wuhan Guangchuang Fund. The investment will be used to increase research and development of relevant technologies, as well as the layout and development of charging and swapping infrastructure. $NIO-SW (09866.HK)$Please use your Futubull account to access the feature.
Citigroup maintains a "buy" rating on Dongfang zhenxuan (01797.HK), with a target price of HKD36.
Citigroup released a research report, maintaining a "buy" rating on Dongfang zhenxuan (01797.HK), with a target price of HKD36. The bank remains bullish on Dongfang zhenxuan, believing that the current adjustment is the foundation for sustainable growth. Diversification and operational adjustments are aimed at improving the company's profitability and risk resistance in a constantly changing market environment. $EAST BUY (01797.HK)$China Great Wall Securities maintains a "buy" rating on Baidu (09888.HK), and the demand for intelligent driving orders remains high. The bank predicts that Baidu will achieve revenue of CNY1462.02/1568.63/1667.68 billion and net income attributable to shareholders of CNY230.91/260.45/290.14 billion from 2024 to 2026. The company’s core business maintains steady growth, and AI big models and intelligent driving businesses are expected to boost the company's fundamentals and valuation.
China Great Wall Securities released a research report, maintaining a "buy" rating on Baidu Group-SW (09888.HK). The demand for intelligent driving orders remains high.
China Great Wall Securities maintains the rating of "bullish" for energy, and the company's overall sales volume in 2023 reached 18,000 kiloliters, a year-on-year increase of +28.10%, indicating significant growth. In terms of product structure, the operating income of 10-30 billion yuan products is respectively 401/1288/60 million yuan. $BIDU-SW (09888.HK)$Recently, China Great Wall Securities released a research report, maintaining a "buy" rating on Baidu Group-SW (09888.HK), and predicting that the company will achieve revenue of CNY1462.02/1568.63/1667.68 billion and a net income attributable to shareholders of CNY230.91/260.45/290.14 billion from 2024 to 2026. The company’s core business maintains steady growth, and AI big models and intelligent driving businesses are expected to boost the company's fundamentals and valuation.
Editor/Cynthia