Futu News reported on December 20 that the three major indexes in Hong Kong rose together, $Hang Seng Index (800000.HK)$ The Hang Seng Index rose by 1.08%, returning to 0.02 million points.$Hang Seng TECH Index (800700.HK)$ Up 1.12%, $Hang Seng China Enterprises Index (800100.HK)$ increased by 1.25%.
As of the midday close, 1,071 stocks in Hong Kong rose, 614 fell, and 1,409 were flat.
In the Sector aspect, Network Technology stocks generally rose, XIAOMI-W increased by 3.15%, Alibaba-W rose by 2.65%, KUAISHOU-W went up by 1.41%, and Baidu Group-SW increased by 1.3%.
Most China Mainland Banking stocks rose, with JINSHANG BANK up 8.82% and JIUTAI RCB up 8.82%; China CITIC Bank Corporation rose 2.94%, Agricultural Bank Of China rose 2.09%, and Bank Of China rose 1.8%, with all three banks reaching historic highs.
Some Leisure and entertainment facilities saw an increase, HAICHANG HLDG rose by 10.91%, and KEEP increased by 0.33%.
Photovoltaic stocks warmed up, with FLAT GLASS rising by 11.78% and XINYI SOLAR by 3.16%.
In terms of individual stocks, $PETROCHINA (00857.HK)$ Up by 2.55%, the State-owned Enterprises' Market Cap management guidance has been released, highlighting the allocation value of the "Three Oil Giants".
$HORIZONROBOT-W (09660.HK)$ Rising over 5%, Goldman Sachs expects the revenue contribution from the "Journey 6" series products to begin next year.
$COSCO SHIP HOLD (01919.HK)$Rising over 3%, COSCO SHP SG plans to acquire 12% of the equity in COSCO SHP Supply Chain for 2.143 billion yuan.
$MNSO (09896.HK)$ Rising over 4%, the company has launched a co-branded product with "Love and Deep Space" and Institutions are Bullish on the company's future performance.
$BOE VARITRONIX (00710.HK)$Rising over 8%, the intelligent evolution in the automotive industry is accelerating, and the company's system Business has rapidly grown in the second half of the year.
$ZTE (00763.HK)$Rising nearly 2%, jointly with partners to establish an open intelligent computing industrial alliance to accelerate the implementation of AI and large model Industry.
Top 10 by trading volume in the half day.
Institutional perspective
Goldman Sachs: Upgraded Semiconductor Manufacturing International Corporation's Target Price to HKD 33.4, expecting gross margin to gradually recover.
Goldman Sachs released a research report stating that, driven by healthier inventory levels and localization trends, there is an optimistic outlook for the revenue prospects of Semiconductor Manufacturing International Corporation. Overall, the firm expects Semiconductor Manufacturing International Corporation's gross margin to gradually recover and has raised its Target Price for H shares from HKD 29.2 to HKD 33.4, maintaining a "neutral" rating. Goldman Sachs indicated continued bullish sentiment towards Semiconductor Manufacturing International Corporation as the leading chip foundry in China, due to the growing demand from its clients for localized production.
However, ongoing capacity expansion, increased supply of mature node capacity, and intensifying competition remain concerns and uncertainties for valuation. It is anticipated that in the second half of this year, the demand for terminals in the industrial and automotive sectors may weaken amid fierce competition; however, as inventory is digested, it should gradually recover. Additionally, Goldman Sachs maintains its earnings forecast for Semiconductor Manufacturing International Corporation for the fiscal year 2024 largely unchanged; the forecasts for fiscal years 2025 to 2029 have been increased by 2% to 4%. The firm has raised Semiconductor Manufacturing International Corporation's revenue projections for fiscal years 2025 to 2029 by about 1% per year; the gross margin is raised by 0.2 to 0.3 percentage points, while operational expenditure expectations remain largely unchanged.
Goldman Sachs: Raises the Target Price of Weimob to HKD 2.70, increases revenue and profit margin forecasts.
Goldman Sachs issued a research report stating that Weimob's stock price has significantly risen over the past two days, after Tencent announced the official launch of the "Gift Giving" feature's gray test in WeChat Mini Programs starting December 19. The firm believes that Weimob, as the largest third-party merchant service provider on WeChat, will benefit from the potential expansion of the merchant base in WeChat Mini Programs if it can attract more merchants and provide more GMV or consumer opportunities. Goldman Sachs raised the group’s revenue forecasts for 2025 and 2026 by 2% and 7%, respectively, and adjusted the Net income margin upward by 1 and 2.2 percentage points, respectively. The firm raised the group's Target Price from HKD 2.5 to HKD 2.7, maintaining a "Neutral" rating.
Editor/Danial
