Futu News reported on March 21 that the three major Hong Kong stock indices all fell, $Hang Seng Index (800000.HK)$down 2.19%, $Hang Seng TECH Index (800700.HK)$down 3.37%, $Hang Seng China Enterprises Index (800100.HK)$down 2.32%.

By the close, 570 stocks rose in Hong Kong, 1,527 stocks fell, and 1,019 stocks ended flat.

The specific industry performance is shown in the picture below:

In the Sector, Network Technology stocks declined, with KUAISHOU-W down 5.35%, SENSING-W down 4.17%, XIAOMI-W down 3.19%, Alibaba-W down 3.54%, Baidu Group-SW down 2.51%, JD-SW down 2.75%, TENCENT down 1.54%, and MEITUAN-W down 0.3%.

Several Autos stocks decreased, with NIO-SW down 8.77%, LEAPMOTOR down 8.4%, and BYD down 7.69%.

Semiconductor stocks adjusted, with Semiconductor Manufacturing International Corporation down 7.49%, HUA HONG SEMI down 6.39%, INNOSILICON down 6.31%, and SHANGHAI FUDAN down 5.37%.

Golden Industrial Concept stocks fell, with CHI SILVER GP down 14.71%, ZHAOJIN MINING down 5.88%, and Zijin Mining Group down 4.95%.

In terms of individual stocks,$CHINA OILFIELD (02883.HK)$Gained over 1%, Deep Sea Technology was included in the government's work report, and offshore oil service companies are expected to benefit.

$CIRRUS (02507.HK)$Up over 12%, the general aviation sector welcomes an important strategic development period, the company is a general aircraft manufacturer under Aviation Industry Corporation of China.

$HWORLD-S (01179.HK)$Up over 4%, with revenue of nearly 23.9 billion yuan last year, proposing a semi-annual dividend of $0.097 per ordinary share.

$COWELL (01415.HK)$Up over 8%, reaching a new high at one point, deeply tied to Apple + positioning at the intelligent driving trend, annual report net income increased by 155%.

$TONGCHENGTRAVEL (00780.HK)$Up over 4%, Q4 performance is stable, received an upgrade in target price from Macquarie.

$KINTOR PHARMA-B (09939.HK)$Soared over 50%, with excellent clinical trial data for self-developed hair loss treatment products, institutions say the market space is vast.

$JXR (01951.HK)$Rose nearly 2%, shareholders transferred stocks from Citibank to Hong Kong Stock Connect, with a value of 0.368 billion Hong Kong dollars.

Top 10 by transaction amount.

Hong Kong Stock Connect funds.

In terms of Hong Kong Stock Connect, today saw a net inflow of 2.267 billion Hong Kong dollars.

Institutional Views

• Citi: Raises AAC TECH's Target Price to HKD 60, increases net income forecasts for this year and next.

Citi published a Research Report stating that $AAC TECH (02018.HK)$The performance in 2024 meets expectations, with optimism for future revenue growth, improved gross margin, and a lower effective tax rate, leading to an increase in net income forecasts for 2025 and 2026 by 14% and 18% respectively, with the target price raised from HKD 53.1 to HKD 60, rating "Buy".

• JPMorgan: Raises TONGCHENGTRAVEL's Target Price to HKD 23, maintains "Overweight" rating.

JPMorgan released a research report predicting.$TONGCHENGTRAVEL (00780.HK)$In 2025, revenue and non-IFRS net income are expected to grow by 14% and 22% year-on-year, respectively, with expectations of steady improvement in profit margins and attractive valuations. The target price is raised from HKD 21 to HKD 23, maintaining the "Overweight" rating.

• Citi: Raises the Target Price of COWELL to HKD 39.8, reiterates "Outperform" rating.

Citi published a Research Report stating that $COWELL (01415.HK)$Net income is expected to increase by 156% year-on-year to USD 0.119 billion in 2024, achieving steady growth, mainly driven by the new business of iPhone rear camera modules, and it is anticipated that this strong growth trend will continue. Based on the forecast PE of 17 times for 2026, the target price is raised from HKD 30.5 to HKD 39.8, reiterating an "Outperform" rating.

Editor/danial