Afternoon review of Hong Kong stock market

Topic 688 news 15494 Subscribers

Market overview: The three major indices showed mixed results, with the Hang Seng Index rising by 0.77%. Dining and retail stocks were active, with Little Vegetable Garden surging over 11% and Mao Ge Ping rising over 9%.

Futu News · 08:29

富途资讯3月17日消息，港股三大指数涨跌不一， $恒生指数 (800000.HK)$ 涨0.77%， $恒生科技指数 (800700.HK)$ 跌0.14%， $国企指数 (800100.HK)$ 涨0.57%。

截至收盘，港股上涨1244只，下跌900只，收平963只。

具体行业表现如下图：

板块方面，科网股涨跌不一，小米集团-W涨3.62%，网易-S跌2.73%，快手-W跌2.16%，京东集团-SW涨2.05%，哔哩哔哩-W跌1.44%，美团-W涨0.98%，腾讯控股涨0.58%，阿里巴巴-W跌0.22%。

建筑材料股多数上涨，西部水泥跌12.28%，中国联塑涨9.51%，华润建材科技涨8.05%，中国建材涨6.40%，亚洲水泥(中国)涨5.37%，海螺水泥涨4.69%，金隅集团涨3.95%，华新水泥涨2.13%。

内房股和物业管理股走高，碧桂园服务涨7.53%，绿城服务涨5.83%，雅生活服务涨4.83%，万物云涨3.57%，融创服务涨3.55%，中海物业涨2.25%，保利物业涨1.59%，华润万象生活涨1.50%，碧桂园涨5.77%，世茂集团涨1.89%，绿城中国涨4.84%。

餐饮股走强，小菜园涨11.29%，呷哺呷哺涨8.89%，百胜中国涨2.85%，海底捞涨1.95%，达势股份涨1.15%，奈雪的茶涨0.81%，特海国际涨0.63%。

保险股表现亮眼，中国财险涨4.58%，中国太平涨1.87%，中国平安涨1.83%，中国太保涨1.72%，友邦保险涨1.55%，中国人民保险集团涨1.36%，中国人寿涨0.36%，新华保险涨0.32%。

酒精饮料股多数上涨，威扬酒业控股涨5.56%，百威亚太涨3.53%，美捷汇控股跌3.23%，王朝酒业跌3.13%，珍酒李渡跌1.62%，西藏水资源涨1.54%，青岛啤酒股份涨1.38%，华润啤酒涨0.92%。

个股方面，$周大福 (01929.HK)$涨超4%，公司宣布新任首席财务官，大和此前指公司股价被严重低估。

$第四范式 (06682.HK)$涨超6%，联合发布AI，Agent，协同运营解决方案，明早将举行范式集团发布会。

$荣昌生物 (09995.HK)$涨超17%，泰它西普治疗重症肌无力Ⅲ期研究入选AAN年会重磅口头报告。

$毛戈平 (01318.HK)$涨超9%，3·8大促表现亮眼，公司入通有望打开估值空间。

$名创优品 (09896.HK)$涨近3%，IP等新消费获促消费专项方案提及，公司去年四季度有望实现较快增长。

$美图公司 (01357.HK)$涨超4%，公司明日将发布业绩，盈喜预计纯利同比增长最多60%。

$香港交易所 (00388.HK)$涨超3%，传港交所探讨降低高价股票交易门槛，机构称估值仍处于低位。

$泡泡玛特 (09992.HK)$涨超6%，盘中创新高，IP热度持续高涨，大摩预计其Q1销售额有望翻倍增长。

今日成交额TOP10

港股通资金

港股通方面，今日港股通（南向）净流入104.83亿港元。

机构观点

大摩：维持太古A“增持”评级，预计股息增长和回购将支撑估值

摩根士丹利表示，将太 $太古股份公司A (00019.HK)$2025年及2026年每股盈利预测分别下调21%及9%，以反映租金收入和饮料利润预测的降低。基于净资产值的目标价从73港元略微上调至75港元，这反映国泰航空股价强劲表现后其市场价值的提升。大摩指，国泰航空和公司旗下中国饮料业务在充满挑战的宏观环境中表现出韧性。该行预计股息持续增长和股票回购将支撑其估值，维持对太古A“增持”评级。

中金：维持汇丰控股“跑赢行业”评级，上调2026年盈利预测

中金预计， $汇丰控股 (00005.HK)$ 的调整后收入在2025年将按年下降0.4%，并在2026年按年增长2.3%；调整后税前利润在2025年将按年下降2.9%，并在2026年按年增长2.3%。

此外，中金预计该公司的调整后有形股本回报率(RoTE)在2025年和2026年将分别达到16.1%和16%，达到公司指引中双位数(14%至16%)的上限。因此，其RoTE预测相较当前市场预测可能会向上修正。

高盛：理想汽车第四季业绩符合预期，予其“买入”评级

高盛发表研究报告指， $理想汽车-W (02015.HK)$ 去年第四季业绩符合预期。公司会在今晚(17日)出席业绩分析会议，该行预期投资者的问题主要聚焦市场往后的竞争环境、自动驾驶功能的进一步计划及进度，以及对公司即将推出的纯电动车(BEV)车型之策略等。该行予其“买入”评级，H股目标价137港元。

编辑/danial

On March 17, Futu News reported that the three major indices of the Hong Kong stock market had mixed performances, $Hang Seng Index (800000.HK)$ Up 0.77%, $Hang Seng TECH Index (800700.HK)$ Down 0.14%, $Hang Seng China Enterprises Index (800100.HK)$ Up 0.57%.

As of the market close, 1,244 Hong Kong stocks rose, 900 fell, and 963 were flat.

The specific industry performance is shown in the picture below:

In the Sector, the Network Technology stocks had mixed results, XIAOMI-W rose by 3.62%, NTES-S fell by 2.73%, KUAISHOU-W fell by 2.16%, JD-SW rose by 2.05%, Bilibili-W fell by 1.44%, MEITUAN-W rose by 0.98%, TENCENT rose by 0.58%, and Alibaba-W fell by 0.22%.

Most Building Materials stocks rose, WESTCHINACEMENT fell by 12.28%, CHINA LESSO rose by 9.51%, CR BLDG MAT TEC rose by 8.05%, CNBM rose by 6.40%, ASIA CEMENT CH rose by 5.37%, CONCH CEMENT rose by 4.69%, BBMG Corporation rose by 3.95%, and Huaxin Cement rose by 2.13%.

Mainland Real Estate and property management stocks rose, CG SERVICES rose by 7.53%, GREENTOWN SER rose by 5.83%, A-LIVING rose by 4.83%, Wanzhongyun rose by 3.57%, SUNAC SERVICES rose by 3.55%, CHINA OVS PPT rose by 2.25%, POLY PPT SER rose by 1.59%, CHINA RES MIXC rose by 1.50%, CG rose by 5.77%, SHIMAO GROUP rose by 1.89%, and GREENTOWN CHINA rose by 4.84%.

Dining stocks strengthened, Little Garden rose by 11.29%, XIABUXIABU rose by 8.89%, YUM CHINA rose by 2.85%, HAIDILAO rose by 1.95%, DPC DASH rose by 1.15%, Nayuki Tea rose by 0.81%, and SUPER HI rose by 0.63%.

Insurance stocks performed well, PICC P&C rose by 4.58%, CHINA TAIPING rose by 1.87%, Ping An Insurance rose by 1.83%, China Pacific Insurance rose by 1.72%, AIA rose by 1.55%, PICC GROUP rose by 1.36%, China Life Insurance rose by 0.36%, and New China Life Insurance rose by 0.32%.

Most Alcoholic Beverages stocks rose, WINE'S LINK rose by 5.56%, BUD APAC rose by 3.53%, MAJOR HLDGS fell by 3.23%, DYNASTY WINES fell by 3.13%, ZJLD fell by 1.62%, TIBET WATER rose by 1.54%, TSINGTAO BREW rose by 1.38%, and CHINA RES BEER rose by 0.92%.

In terms of individual stocks,$CHOW TAI FOOK (01929.HK)$Rising over 4%, the company announces a new Chief Financial Officer, and Daiwa previously indicated that the company's stock is severely undervalued.

$FOURTH PARADIGM (06682.HK)$Rising over 6%, jointly releasing AI, Agent, and collaborative operation solutions, a press conference for FOURTH PARADIGM will be held tomorrow morning.

$REMEGEN (09995.HK)$Rising over 17%, the Phase III study of Tisotumab vedotin in the treatment of myasthenia gravis has been selected for a significant oral presentation at the AAN Annual Meeting.

$MAO GEPING (01318.HK)$Rising over 9%, the performance during the 3.8 promotional campaign was impressive, and the company is expected to open up valuation space.

$MNSO (09896.HK)$Increased by nearly 3%, new consumer products such as IP are mentioned in the special plan to promote consumption, and the company is expected to achieve rapid growth in the fourth quarter of last year.

$MEITU (01357.HK)$Increased by over 4%, the company will announce its performance tomorrow, and it is expected that net profit will increase by up to 60% year-on-year.

$HKEX (00388.HK)$Increased by over 3%, it is reported that HKEX is exploring ways to lower the trading threshold for High Stock Price, and institutions say valuations are still at a low level.

$POP MART (09992.HK)$Increased by over 6%, hitting a new high during the trading session, the popularity of IP continues to rise, and Morgan Stanley expects its Q1 sales to potentially double.

Top 10 transaction amounts today.

Hong Kong Stock Connect funds.

In the context of Stock Connect, today's net Inflow for Hong Kong Stock Connect (southbound) is 10.483 billion HKD.

Institutional Views

Morgan Stanley: Maintains "Buy" rating on Swire Pacific A, expecting dividend growth and share buyback to support valuation.

Morgan Stanley indicated that Swire Pacific A. $SWIRE PACIFIC A (00019.HK)$The earnings per share forecast for 2025 and 2026 has been lowered by 21% and 9% respectively to reflect reduced rental income and beverage profit forecasts. The Target Price based on net asset value has been slightly raised from 73 HKD to 75 HKD, reflecting the increase in market value after the strong performance of Cathay Pacific's stock price. Morgan Stanley stated that Cathay Pacific and the company's Chinese beverage business have demonstrated resilience in a challenging macro environment. The firm expects continuous dividend growth and stock buybacks to support its valuation, maintaining a "Buy" rating on Swire Pacific A.

CITIC: Maintains HSBC Holdings 'Outperform' rating, raises profit forecast for 2026.

CITIC expects that the adjusted revenue in 2025 will decrease by 0.4% year-on-year, and will grow by 2.3% year-on-year in 2026. $HSBC HOLDINGS (00005.HK)$ Adjusted pre-tax profit is expected to decrease by 2.9% year-on-year in 2025, and grow by 2.3% year-on-year in 2026.

In addition, CITIC expects the company's adjusted return on tangible equity (RoTE) to reach 16.1% and 16% in 2025 and 2026, respectively, achieving the upper limit of the company's guidance of a double-digit return (14% to 16%). Therefore, its RoTE forecast may be revised upward compared to current market forecasts.

Goldman Sachs: Ideal Auto's fourth quarter performance meets expectations, rated 'Buy'.

Goldman Sachs published Research Reports stating, $LI AUTO-W (02015.HK)$ Last quarter's performance met expectations. The company will attend the performance analysis meeting tonight (17th), and the bank expects investors' questions to focus mainly on the future competitive environment of the market, further plans and progress on autonomous driving features, and the strategy for the company's upcoming pure electric vehicle (BEV) models. The bank has assigned a "Buy" rating, with a target price of HKD 137 for H shares.

Editor/danial

The translation is provided by third-party software.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.