A quick look at the Hong Kong market | The Hang Seng Index rose nearly 6%! Science and technology stocks rose strongly, Ali, Meituan rose more than 8%

time:2023-03-24 02:29:33 source:clevelanddrifters.com author:Stock market
A quick look at the Hong Kong market | The Hang Seng Index rose nearly 6%! Science and technology stocks rose strongly, Ali, Meituan rose more than 8%

Futu News, August 25 | The three major indexes of Hong Kong stocks rose strongly. The Hang Seng Index closed up 3.63%, the Hang Seng Ke Index closed up 6.01%, and the China Enterprises Index closed up 4.31%. As of the close, Hong Kong stocks rose 1,282 stocks today, fell 470 stocks, and ended flat at 1,152 stocks. Quote source: Futu Niuniu-Opportunity-Market Hotspot-Hong Kong Stock Hotspot-Rise and Fall Distribution Stocks rose in general, Jingdong rose 11%, Bilibili rose more than 10%, Baidu rose more than 9%, Alibaba rose more than 8%, Meituan rose more than 8%, Kuaishou rose more than 6%, and NetEase rose more than 5%. Tencent rose more than 4%. Coal stocks were among the top gainers, Yankuang Energy rose more than 9%, Yitai Coal rose more than 7%, Yancoal Australia rose more than 5%, China Coal Energy rose more than 5%, and China Shenhua rose more than 4%. Insurance stocks strengthened, ZhongAn Online rose more than 5%, China Ping An rose more than 5%, AIA rose more than 4%, China Pacific Insurance rose more than 3%, and China Life Insurance rose more than 2%. Oil stocks were strong, Kunlun Energy rose more than 6%, CNOOC rose more than 4%, PetroChina rose more than 1%, and Sinopec rose more than 1%. Shipping stocks rose, COSCO SHIPPING Energy rose more than 8%, Pacific Shipping rose nearly 6%, COSCO SHIPPING Holdings rose more than 3%, and Orient Overseas International rose more than 1%. Power stocks rebounded, Huaneng International Power rose more than 3%, China Power rose more than 3%, Huadian International Power rose more than 3%, China Resources Power rose more than 2%, and Datang Power rose nearly 2%. Auto stocks are on the rise, with NIO up over 7%, Great Wall Motors up over 4%, Xiaopeng Motors up over 4%, Geely Auto up over 3%, and Ideal Motors up over 2%. In other respects, sectors such as banking, batteries, medicine, non-ferrous metals, home appliances, and gaming all rose to varying degrees. In terms of individual stocks, JD.com Group-SW (09618.HK) rose 11%. Recently, a number of institutions have released JD.com's performance review reports, among which Goldman Sachs said that JD.com's quarterly results were significantly better than expected, and management remains confident in its long-term growth potential. $Tencent Holdings (00700.HK)$ rose more than 4%. In terms of news, Level Infinite, the international business brand of Tencent Games, announced a number of games at the opening ceremony of the Cologne Game Show in Germany. $Bubble Mart (09992.HK)$ rose more than 6%. In terms of news, Bubble Mart released its interim results at noon. The group achieved a profit of RMB 2.359 billion (the same unit below), a year-on-year increase of 33.1%; the profit attributable to the company's owners was 333 million yuan, a year-on-year decrease of 7.2%. $NIO-SW(09866.HK)$ rose more than 7%. In terms of news, according to media reports, NIO is developing its own lithium iron manganese phosphate and 4680 batteries, and plans to mass-produce these two batteries for NIO and its sub-brand Alps. In addition, NIO’s official Weibo announced that the first batch of ET5 production line pre-production vehicles officially rolled off the production line at NIO’s second advanced manufacturing base. $COSCO SHIPPING Energy (01138.HK)$ rose more than 3%. The data shows that with the rebound of China's crude oil imports, the VLCC-based large ship market has gradually recovered. In July, VLCC-TCE rose by 21% year-on-year and 55% month-on-month. $ Yankuang Energy (01171.HK) $ rose more than 9%. The agency said that the EU's coal imports accounted for 10.4% of the global seaborne coal trade carrying capacity during the same period, and Europe's ban on the import of Russian coal was equivalent to a 3.3% reduction in market supply, exacerbating global coal supply and demand constraints. $China National Offshore Oil (00883.HK)$ rose more than 4%. In terms of news, the recent Iranian nuclear issue has attracted market attention. If the Iran nuclear agreement is reached, it means that Iranian supply will gradually return to the market, and the future supply growth potential will be large. UBS pointed out that although international oil prices have fallen by nearly 25% from recent highs to below $100 a barrel, Brent crude oil prices are likely to reverse this year as global markets remain tight.

Southbound Trading Funds

In terms of Southbound Trading, the net outflow of Southbound Trading (southbound) was HK$804 million today. Quote source: Futu Niuniu-Opportunity-Market Hotspot-Shanghai-Shenzhen-Hong Kong Stock Connect Hotspot-Southbound Hong Kong Stock Connect Orange warning, the highest temperature in Chongqing, Zhejiang and other places can exceed 40 ℃. The Central Meteorological Observatory continued to issue an orange warning for high temperature this morning. It is expected that during the day, there will be 35°C to 39°C high temperature weather in Sichuan Basin, Chongqing, eastern and northern Guizhou, southern Shaanxi, Hubei, southern Anhui, Hunan, Jiangxi, Zhejiang, Fujian, and northern Guangxi. Among them, Sichuan Basin, Chongqing, The highest temperature in parts of eastern and southern Jiangxi, central Zhejiang and other places can reach above 40 ℃. Development and Reform Commission and other departments: Strengthen and upgrade industrial brands and cultivate a number of advanced manufacturing cluster brands On August 25, the National Development and Reform Commission and other departments issued guidance on promoting brand building in the new era. The opinions put forward that it is necessary to strengthen and upgrade industrial brands, vigorously implement the action of "increasing varieties, improving quality, and creating brands" in the manufacturing industry, forming an influential "Made in China" outstanding brand, and cultivating a number of advanced manufacturing cluster brands. Guide the equipment manufacturing industry to speed up the quality improvement and upgrade, promote the transformation of product supply to "product + service", and cultivate a number of scientific research and development and technology in the fields of rail transit, electric power, ship and marine engineering, construction machinery, medical equipment, special equipment and other equipment A leading brand of system integration solutions with strong innovation ability and excellent quality management, and a benchmark brand of intelligent manufacturing and service-oriented manufacturing. National Energy Administration: Support distributed generation to participate in market transactions nearby, and promote distributed generation to participate in green power transactions On August 25, the General Department of the National Energy Administration issued the "National Energy Administration in 2022 to deepen the reform of "decentralization, management and services" and optimize the business environment. Task Division Plan. Among them, it is proposed to improve the market transaction mechanism, support distributed generation to participate in market transactions nearby, and promote distributed generation to participate in green power transactions. Promote the construction of a trading platform based on blockchain and other technology applications, and study the system and mechanism to adapt to renewable energy microgrids, stock local power grids, incremental distribution networks and large power grids. Ministry of Transport: Strengthen the construction of supporting power grids and standardize charging service charges At today's press conference of the Ministry of Transport, Chen Wanjian, deputy director of the Highway Bureau of the Ministry of Transport, introduced that the "Action Plan for Accelerating the Construction of Charging Infrastructure along Highways" proposed, Encourage charging operators to take into account the reasonable income of investment and operation entities and the economy of users, and implement service fee discounts during the market cultivation period to ensure that charging service fees are reasonable and standardized. At the same time, encourage local governments to issue relevant preferential policies and implement phased reductions and exemptions on the rent of charging infrastructure sites, so as to create conditions for accelerating the construction of charging infrastructure.

Institutional view:

Credit Suisse: Raise the target price of $JD-SW(09618.HK)$ to HK$374, with a rating of "Outperform" Credit Suisse issued a report saying that JD.com's second-quarter results were affected by gross profit Driven by interest rates and better than expected, it raised its 2022-2024 profit forecast by 16%-23%, the target price of Hong Kong stocks was raised from 359 yuan to 374 yuan, and the target price of US stocks was raised from US$92 to US$96, rating "Outperform" . Credit Suisse believes that, like its peers, JD.com faces pressure from weak cyclical consumer demand in China, but this is offset by rising gross margins. Although JD.com's premium valuation relative to its peers may limit its upside in the short term, JD.com's different The reason lies in its logistics capabilities, category expansion, and gross margin improvement. Citi: $IAIA (01299.HK)$ New business value in the first half of the year was in line with expectations, and the intrinsic value fell as expected within the first half of the year ) fell by 13%, also within the expected range, mainly dragged down by a 9% decline in annualized new premiums in real exchange rates and a 4ppt decline in gross profit margins (in real exchange rates). The bank pointed out that AIA's ASEAN market recovered from the epidemic, while the mainland China business was still affected by the epidemic during the same period, and the decline in new business value in the second quarter narrowed to 10%, compared with the first quarter. Citi predicts that AIA will resume share repurchase, and the stock price will respond positively, giving a target price of 104 yuan, corresponding to a forecasted share price to intrinsic value ratio of about 2.2 times in 2022, and rating it "buy". Macquarie: Raise the target price of $ANTA SPORTS (02020.HK) $138, with a rating of "Outperform" Macquarie issued a report stating that Anta Sports' revenue in the first half of the year increased by 14% year-on-year, higher than the bank expected Net profit fell 7% year-on-year, but was still 16% higher than the bank's forecast and 13% higher than market expectations. Macquarie raised the target price of Anta shares by 19% to 138 yuan, maintained the rating of "outperform the market", and raised the group's forecast for this year and next by 7%. The bank expects that the group's revenue growth and gross profit will improve in the second half of the year, mainly due to easier comparison bases and lower costs. UBS: Raised $Kunlun Energy (00135.HK)$ target price to 9.3 yuan, rating "Buy" UBS released a research report that Kunlun Energy's interim net profit increased by 19% year-on-year, which was better than expected, mainly due to industrial customers The increase in contribution has driven the recovery of gross profit margin and the increase in the average price of E&P products. Management has maintained its full-year growth guidance, targeting a 15% full-year growth in retail sales, and expects to break even for the full year this year. The bank raised its profit forecast from 2022 to 2024 by about 6% to 11%, and raised the target price to 9.3 yuan, maintaining a "buy" rating. Editor/harry Risk Warning: The opinions of the authors or guests shown above have their own specific positions, and investment decisions need to be based on independent thinking. Futu will endeavour but cannot guarantee the accuracy and reliability of the above content, and will not be liable for any loss or damage arising from any inaccuracies or omissions.

(Responsible editor:Fuel stock)