Futu News reported on June 19 that the three major indices of the Hong Kong stock market all fell. $Hang Seng Index (800000.HK)$ Down 1.99%, $Hang Seng TECH Index (800700.HK)$ Down 2.42%, $Hang Seng China Enterprises Index (800100.HK)$ Down 2.13%.
As of the market close, 463 stocks in Hong Kong rose, 1,684 fell, and 991 closed flat.
The performance of specific industries is shown in the following figure:
In terms of sectors, Network Technology stocks weakened, MEITUAN-W fell by 3.75%, JD-SW dropped by 3.63%, Bilibili-W declined by 3.62%, KUAISHOU-W decreased by 3.26%, TENCENT fell by 1.97%, Alibaba-W decreased by 1.96%, XIAOMI-W dropped by 1.39%, and NTES-S fell by 0.39%.
Some new consumer Concept stocks adjusted, MAO GEPING and Laopu Gold fell over 6%, POP MART dropped over 5%, and Mixue Group fell over 3%.
Several Digital Health stocks declined, Dingdang Health fell by 8.62%, ALI HEALTH dropped by 5.26%, JD HEALTH decreased by 4.93%, PA GOODDOCTOR declined by 4.29%, Maidi Weikang dropped by 1.79%, and ZA ONLINE fell by 0.98%.
Some oil and gas stocks rose against the trend, SINO GAS HLDGS increased by over 138%; JX ENERGY rose nearly 35%, JINTAI ENERGY H gained nearly 53%, and MIE HOLDINGS climbed nearly 21%.
Securities and Brokerage stocks fell, HOLLY FUTURES dropped by 6.58%, BRIGHT SMART declined by 5.68%, China International Capital Corporation fell by 5.21%, China Galaxy dropped by 5.13%, HTSC declined by 4.39%, GF SEC decreased by 3.90%, China Merchants fell by 3.40%, and Guotai Junan dropped by 2.56%.
Biotechnology stocks generally fell, ZAI LAB dropped by 6.96%, BEIGENE fell by 4.46%, Giant Bio declined by 4.01%, REMEGEN dropped by 3.39%, WUXI BIO fell by 3.02%, AKESO declined by 2.85%, Jingtai Holdings dropped by 1.01%, and ASCENTAGE-B rose by 0.50%.
Apple Concept stocks declined, VSTECS fell by 4.83%, SUNNY OPTICAL dropped by 4.28%, AAC TECH declined by 3.94%, Q TECH dropped by 3.84%, TK GROUP HLDG decreased by 2.78%, BYD Electronics fell by 2.46%, COWELL dropped by 2.38%, and FIH (new) decreased by 1.87%.
Most gold stocks fell, CHI SILVER GP dropped by 11.11%, LINGBAO GOLD fell by 8.70%, TONGGUAN GOLD fell by 6.18%, Zijin Mining Group dropped by 3.85%, ZHAOJIN MINING fell by 3.81%, CHINAGOLDINTL decreased by 3.73%, and Chifeng Jilong Gold Mining fell by 3.54%, while SD GOLD rose by 0.92%.
As for individual stocks,$XIAOCAIYUAN (00999.HK)$Today increased in volume and rose over 7% in the closing period, the company is about to face a lifting of restrictions.
$CHOW TAI FOOK (01929.HK)$Fell nearly 4%, Citigroup stated that convertible bonds may put pressure on the stock price in the short term, but still optimistic about same-store sales recovery.
$HKEX (00388.HK)$Fell over 3%, major firms expect that market activity will slow down from recent peak levels.
$LAOPU GOLD (06181.HK)$Falling more than 6%, a large-scale lock-up stock release is set to occur at the end of this month, and Citi believes that the price of the old shop will still be attractive.
$LOPAL TECH (02465.HK)$Slight increase, the industrialization of Solid State Battery is accelerating, with its subsidiary Sanjin Lithium Battery focusing on the research and production of Solid State Battery precursors.
Today's TOP 10 transaction amount.
Funds from Hong Kong Stock Connect.
In terms of the Stock Connect, today the net inflow of the Hong Kong Stock Connect (southbound) is 1.427 billion HKD.
Institutional views
CICC: Initiates a rating of "Outperform Industry" for Shandong Nanshan Aluminium, with significant capacity expansion leading to growth potential.
CICC's research report points out that, considering the growth potential brought by significant capacity expansion, the first coverage gives an "Outperform Industry" rating, with a Target Price of HKD 33.19. Shandong Nanshan Aluminium International is a subsidiary of A-share Shandong Nanshan Aluminium, with its main business focusing on the Indonesia alumina project, which successfully listed on the Hong Kong Stock Exchange in March 2025. $NANSHAN AL INTL (02610.HK)$ The company has established an alumina production capacity of 2 million tons per year and is planning to build a second alumina project with an annual output of 2 million tons, expected to be gradually put into production in 2025 and 2026.
The firm believes that after the company's capacity is released, it is likely to become one of the largest alumina producers in Southeast Asia, further enhancing the company's market influence in that region. In addition, the three main shareholders of the company have strong industrial advantages in the mid-stream alumina production, downstream alumina consumption, and upstream bauxite supply, enabling synergy and complementary advantages in the Industry Chain.
Goldman Sachs: Maintains a "Buy" rating for Xiaomi, as the sales performance during the 618 shopping festival met expectations.
Goldman Sachs published a research report stating that $XIAOMI-W (01810.HK)$ During this year's 618 shopping festival, the total transaction value (GMV) online and offline reached 35.5 billion yuan, a year-on-year growth of 35%, which is 11% higher than last year's Double Eleven period, achieving 71% of Goldman Sachs' forecast for Xiaomi's second quarter revenue from Chinese smart phones and AIoT, indicating that the performance meets expectations.
Goldman Sachs believes that investors will focus on the first-day sales order volume of the upcoming Xiaomi car model YU7, as well as the new products such as Xiaomi MIX Flip 2, Redmi K80 Ultra 3, the Xiaomi Pad 7S Pro equipped with XRINGO1 chip, and the first AI smart glasses, maintaining a "Buy" rating with a target price of 65 Hong Kong dollars.
JPMorgan: Raises the target price of POP MART to 330 Hong Kong dollars, reiterating it as a top choice in the Chinese consumer goods sector.
JPMorgan published a research report stating that they are impressed by the rapidly growing brand popularity and consumer demand for the IP products Labubu and Crybaby. $POP MART (09992.HK)$ The increase in retail prices for new plush toys of most IPs by 14% to 87%, the successful collaboration with Coca-Cola, and the potential collaboration with Uniqlo in August have led JPMorgan to raise its earnings forecasts for POP MART from 19% to 23% for 2025 to 2027, with the bank's estimates being 25% higher than market expectations.
The firm raised the target price of POP MART from 250 Hong Kong dollars to 330 Hong Kong dollars, based on a 1.5 times price-to-earnings growth rate (PEG), representing a 20% discount compared to the industry weighted average PEG of about 1.9 times, and assigned a "Shareholding" rating.
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