Futu News, January 15, the three major Hong Kong stock indexes all rose, $Hang Seng Index (800000.HK)$Up 0.34%, $Hang Seng TECH Index (800700.HK)$Up 0.27%, $Hang Seng China Enterprises Index (800100.HK)$Up 0.35%.

As of closing, 776 stocks in Hong Kong rose, 1072 declined, and 1255 closed flat.    

The specific industry performance is shown in the following figure:

In terms of sectors, Network Technology stocks showed mixed results, with NTES-S rising 4.03%, TENCENT rising 1.33%, KUAISHOU-W falling 1.23%, JD-SW rising 0.88%, SENSETIME-W falling 0.75%, XIAOMI-W falling 0.44%, and MEITUAN-W rising 0.14%.

China Mainland Banking stocks rose overall, with JIUTAI RCB increasing by 14.49%, CM BANK by 3.26%, Bank Of China by 1.85%, and China CITIC Bank Corporation by 1.74%.

Most Golden Industrial Concept stocks fell, with Zijin Mining Group down 5.85%, CHINAGOLDINTL down 3.27%, TONGGUAN GOLD up 2.13%, SD GOLD down 1.83%, LINGBAO GOLD down 1.02%, and ZHAOJIN MINING down 0.67%.

Most semiconductor stocks rose, with Semiconductor Manufacturing International Corporation up 5.98%, INNOSILICON down 4.17%, BEIGENE up 1.35%, SOLOMON SYSTECH up 1.05%, CE HUADA TECH up 0.83%, and SHANGHAI FUDAN down 0.56%.

Nonferrous Metals stocks weakened, with Zijin Mining Group down 5.85%, CMOC Group Limited down 2.98%, SD GOLD down 1.83%, JIANGXI COPPER down 1.72%, GANFENGLITHIUM up 0.73%, ZHAOJIN MINING down 0.67%, and CHINAHONGQIAO down 0.17%.

Building Materials stocks generally rose, with GUIXIN GROUP up 8.45%, CONCH CEMENT up 3.95%, CR BLDG MAT TEC down 1.40%, CNBM up 1.17%, WESTCHINACEMENT up 0.70%, and Huaxin Cement up 0.41%.

Hong Kong Retail Stocks declined, with SAMSONITE down 4.24%, BOSSINI INT'L up 3.92%, PRADA down 2.22%, BONJOUR HOLD up 1.76%, SA SA INT'L down 1.52%, GIORDANO INT'L down 0.66%, LUK FOOK HOLD up 0.43%, and CHOW TAI FOOK up 0.15%.

In terms of individual stocks,$NTES-S (09999.HK)$ Up 4.03%, US stocks rose over 3% in overnight trading, stock prices hit the $100 mark, and the company's new game performance is impressive, with a rich product line reserve.

$TECHTRONIC IND (00669.HK)$Up 2.93%, Nomura expects strong performance in the second half of the year, and the company has significantly improved supply chain flexibility.

$IMOTIONAUTOTECH (01274.HK)$Up 23.19%, institutions indicated that 'smart driving equity' leads to accelerated supply-side product iteration.

$SMIC (00981.HK)$Up 5.98%, at one point breaking through the previous high during the session, Northbound trading has net bought for 8 consecutive days, and Goldman Sachs expects revenue to gradually rise in 2024.

$CONCH CEMENT (00914.HK)$Increased by 3.95%, this year cement companies may have a stronger willingness to maintain prices, and the company has cost and location advantages.

$MINIEYE (02431.HK)$Increased by 8.89%, the stock price reached a new high since its listing, and the company is a supplier of smart driving solutions.

$CONCH MAT TECH (02560.HK)$Increased by 5.84%, still halved compared to the offer price, the IPO valuation is relatively high compared to peers.

$CONCH CEMENT (00914.HK)$Increased by 3.95%, this year cement companies may have a stronger willingness to maintain prices, and the company has cost and location advantages.

Today's transaction volume TOP10

Hong Kong Stock Connect funds

In terms of the Hong Kong Stock Connect, today's net inflow of southbound funds is 9.35 billion Hong Kong dollars.

Institutional perspective

• Morgan Stanley: The core operating trend of CM BANK has improved, assigning a "Shareholding" rating and a Target Price of 44.5 Hong Kong dollars.

Morgan Stanley published a Research Report, estimating $CM BANK (03968.HK)$ In the fourth quarter of last year, net interest income increased by 2.1% quarter-on-quarter and loan balances increased by 1.9% quarter-on-quarter, reflecting that the reduction in deposit costs may offset the impact of one-time adjustments to mortgage rates.

It is also expected that mortgages will show a certain degree of continuous improvement to support loan growth and net interest income. Morgan Stanley also anticipates that China CITIC Bank Corporation's net interest margin will face some repricing pressure again in the first half of this year, but will stabilize in the second half.

Morgan Stanley sets the target price for China CITIC Bank Corporation's H shares at HKD 44.5, giving a "Shareholding" rating.

• UBS Group: China CITIC Bank Corporation's net income and asset growth have positive surprises, giving a "Buy" rating.

UBS Group published a report stating that $CITIC BANK (00998.HK)$ last year's preliminary results were announced, with net income and asset growth showing positive surprises. Last year's revenue increased by 3.8% year-on-year, roughly in line with the growth trajectory of the first three quarters of last year, with net income growth accelerating from a 0.8% increase in the first three quarters to a 2.3% increase for the whole year, far exceeding the bank's earlier expectations, possibly benefiting from a reduction in impairment expenses in the fourth quarter of last year, based on a reduction in non-performing loan coverage ratio by 6.57 percentage points, although the non-performing loan ratio remained stable at 1.16% quarter-on-quarter.

Asset growth also accelerated from 3.8% in the first three quarters to 5.9% for the entire year. The bank expects the market to react positively to the performance. UBS Group gives China CITIC Bank Corporation a "Buy" rating and sets the target price for H shares at HKD 6.1.

• UBS Group: Maintains KUAISHOU-W "Buy" rating, with strong momentum in commodity transaction volume growth in the fourth quarter.

UBS Group released a report stating that $KUAISHOU-W (01024.HK)$ Management reiterated that core business progress is advancing as planned. In the fourth quarter of last year, the total gross merchandise volume (GMV) showed strong growth momentum, mainly benefiting from the robust performance in sales during the November 11 Shopping Festival-Related.

Looking ahead to this year, the company believes it can maintain its growth momentum in market share within the e-commerce sector, and expects to benefit from subsidy measures for appliance replacement in the first half of this year.

UBS Group maintains a 'Buy' rating on KUAISHOU-W, with a Target Price of HKD 76.4, believing that the company's current valuation is not high, corresponding to a projected PE of 7 times for 2025, while the earnings per share are expected to have a compound annual growth rate of 23% from 2024 to 2026.

Editor/danial