Futu News, May 8 - The three major indices of the Hong Kong stock market all rose, $Hang Seng Index (800000.HK)$ Up 0.37%, $Hang Seng TECH Index (800700.HK)$ increased by 0.56%, $Hang Seng China Enterprises Index (800100.HK)$Up 0.70%.
At the close, 1,024 stocks rose, 950 stocks fell, and 1,156 stocks remained flat.
The performance of specific industries is shown in the following figure:
In the Sector, most Network Technology stocks rose, Baidu-SW fell 2.75%, MEITUAN-W rose 1.73%, TENCENT rose 1.67%, XIAOMI-W rose 1.40%, JD-SW rose 0.53%, KUAISHOU-W rose 0.38%, Alibaba-W rose 0.16%, NTES-S fell 0.12%.
Newly listed stocks were strong, Auntie in Shanghai rose over 40%, Hainan Drinda New Energy Technology rose over 20%.
Hong Kong Retail Stocks weakened, PRADA fell 3.82%, SAMSONITE fell 3.64%, SA SA INT'L rose 1.64%, CHOW TAI FOOK fell 1.32%, GIORDANO INT'L fell 0.67%, CHOW SANG SANG fell 0.64%, LUK FOOK HOLD rose 0.23%.
Golden Industrial Concept stocks were mixed, Chifeng Jilong Gold Mining fell 4.72%, PERSISTENCE RES rose 3.15%, SD GOLD fell 2.47%, ZHAOJIN MINING fell 2.18%, CHINAGOLDINTL fell 2.00%, Zijin Mining Group fell 1.23%, LINGBAO GOLD rose 0.66%.
Semiconductor stocks declined, SMART-CORE rose 2.86%, Beike Micro fell 2.47%, SHANGHAI FUDAN fell 2.39%, Semiconductor Manufacturing International Corporation fell 2.27%, INGDAN rose 2.27%, CE HUADA TECH fell 2.11%, Innovatek rose 1.18%, HUA HONG SEMI rose 0.14%.
Mobile Game stocks showed mixed results, BOYAA rose 10.38%, ZX INC rose 2.26%, XD INC fell 1.98%, TENCENT rose 1.67%, KINGSOFT fell 1.35%, Bilibili-W fell 0.43%, NETDRAGON fell 0.20%, NTES-S fell 0.12%.
Auto stocks strengthened, Li Auto-W rose 4.96%, Geely Auto rose 4.41%, Great Wall Motor rose 4.25%, YADEA rose 2.26%, Xpeng Motors-W rose 1.74%, NIO-SW rose 0.84%, BYD Company Limited rose 0.36%.
In terms of individual stocks,$MEITUAN-W (03690.HK)$Up nearly 2%, the popularity of cultural tourism has reached a three-year high, with strong holiday tourism performance boosting OTA platforms.
$YOFC (06869.HK)$Up nearly 8%, under its umbrella.$Broadex Technologies (300548.SZ)$Plans to invest in the construction of the Changxin Sheng Indonesian production base phase three expansion project.
$GUOQUAN (02517.HK)$Up nearly 16%, shareholders have committed to a 6-month ban on selling H shares, and store efficiency and opening speed are expected to rebound this year.
$GOODBABY INTL (01086.HK)$Up over 21%, it is reported that the US government is considering exempting tariffs on Chinese automotive seats, strollers, and cribs.
$GEELY AUTO (00175.HK)$Up over 4%, planning to privatize its subsidiary brand at a premium of 13.6%.$ZEEKR (ZK.US)$。
$GWMOTOR (02333.HK)$Rising over 4%, HSBC stated that the first quarter net profit slightly exceeded expectations, and it is expected that overseas sales will slightly recover in the second quarter.
Top 10 transaction amounts today.
Hong Kong Stock Connect funds.
Regarding Stock Connect, today's net outflow from the Hong Kong Stock Connect (southbound) is 2.385 billion HKD.
Institution Ratings
Citigroup: Reiterating the 'Buy' rating for LINK REIT, the preferred stock in the Hong Kong Real Estate Investment Trust sector.
Citi published a research report indicating that... $LINK REIT (00823.HK)$Recently, the stock price has risen, and the group is expected to perform strongly in May. The bank stated that LINK REIT is the biggest beneficiary of the upcoming stock-linked plan to include Real Estate Investment Trusts, and the positive news during the May Day Golden Week will benefit the retail trade, along with the narrowing decline in Hong Kong retail sales in March. Additionally, the market expects that the Federal Reserve may cut interest rates in June or later. The bank reiterated that LINK REIT will announce its fiscal year 2025 results at the end of this month, with an expected annual increase of 2% in its distribution per unit (DPU) and a projected dividend yield of 7% for fiscal year 2026, which is attractive. The bank reaffirmed its 'Buy' rating for LINK REIT with a target price of HK$47.82, making it the preferred stock in the Hong Kong Real Estate Investment Trusts sector.
Goldman Sachs: The Chinese stock market remains resilient, maintaining a "Shareholding" rating.
Goldman Sachs released a Research Report stating that the Chinese stock market remains resilient, due to factors including a weaker dollar, strong economic growth, and domestic policy support. Goldman Sachs maintains its 'Overweight' rating on the Chinese stock market and raises its earnings per share forecast for 2025, adjusting the 12-month target points for the MSCI Chinese Index and CSI 300 Index to 78 points and 4,400 points respectively, indicating potential return rates of 7% and 15%. Recently, Goldman Sachs also raised its annual net inflow expectations for southbound funds from $75 billion to $110 billion, due to the flow of funds from the USA to China, the growth potential and valuation advantages of H Shares, as well as new IPOs and 'returning' listings expanding the investable range for southbound funds.
JPMorgan: Geely's privatization of ZEEKR will enhance synergy and cost competitiveness, giving it an 'Overweight' rating.
JPMorgan published a research report stating that $GEELY AUTO (00175.HK)$ A plan for privatization was announced yesterday. $ZEEKR (ZK.US)$ It is believed that this move aligns with the group's overall strategy, aiming to enhance the business synergy and improve cost competitiveness of Geely, ZEEKR, and Lynk & Co. Last year, Geely also undertook similar integration, making Lynk & Co a subsidiary of ZEEKR to avoid product overlap. The bank anticipates that most ZEEKR Shareholders will choose to convert their shares into Geely shares, hoping to benefit from Geely's long-term growth potential in both domestic and international markets. Assuming all ZEEKR Shareholders opt for the share exchange, the maximum dilution of equity would be around 10%. However, the bank believes that the cost savings from the business integration of Geely and ZEEKR, as well as the impact of the business synergy, will outweigh the effects of equity dilution in the long run. Furthermore, the group previously issued a profit alert, estimating a profit of approximately 5.5 billion yuan for the first quarter of this year, which includes nearly 2 billion yuan in foreign exchange gains due to the depreciation of the RMB. The bank now assigns a target price of HKD 23 for Geely Auto and maintains a 'Shareholding' rating.
Editor/danial
