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-- 10.9600 Hong Kong stock review: The three major indices fell sharply, the Hang Seng Index fell nearly 300 points, and Hao Gaming stocks bucked the trend and strengthened
The net inflow of capital to the south was HK$4,532 billion throughout the day, and market turnover shrunk to less than HK$100 billion.
The performance of Hong Kong stocks is once again sluggish. $Hang Seng TECH Index (800700.HK)$ There was a sharp drop of 2.8% in the afternoon, closing down 2.39% to 4102.02 points. $Hang Seng Index (800000.HK)$ 、 $Hang Seng China Enterprises Index (800100.HK)$ It fell 1.37% and 1.63%, respectively, and the Hang Seng Index fell nearly 300 points. The net inflow of capital to the south was HK$4,532 billion throughout the day, and market turnover shrunk to less than HK$100 billion.
On the market, large technology stocks declined across the board. $KUAISHOU-W (01024.HK)$ 、 $XIAOMI-W (01810.HK)$ Decreased by more than 4%, $Alibaba (BABA.US)$ 、 $JD-SW (09618.HK)$ 、 $TENCENT (00700.HK)$ 、 $NTES-S (09999.HK)$ 、 $BIDU-SW (09888.HK)$ They all fell by more than 2%. $MEITUAN-W (03690.HK)$ Contrary to the trend, CITIC expects the industry's sales rate to drop slightly in Q2, with domestic housing stocks and property management stocks falling sharply, and Country Garden and Sunac China falling significantly; home appliance stocks, automobile stocks, mobile game stocks, infrastructure stocks, telecom stocks, etc. are falling one after another, and the new car building force “Wei Xiaoli” has declined markedly. On the other hand, the Chief Executive of Macau said he is confident that gambling revenue will reach 130 billion Australian dollars this year. Gaming shares have bucked the trend and strengthened. The movie sector is clearly picking up. Film and television entertainment stocks are showing active performance, and Maoyan Entertainment has risen about 7%.
Let's take a look specifically:
Real estate stocks declined, $ZHENRO PPT (06158.HK)$ 、 $RONSHINECHINA (03301.HK)$ A drop of more than 5%, $COUNTRY GARDEN (02007.HK)$ 、 $KAISA GROUP (01638.HK)$ 、 $GREENTOWN CHINA (03900.HK)$ 、 $SEAZEN (01030.HK)$ Wait until it falls by more than 4%.
Guoxin Securities said that since April 2023, although the fundamentals of real estate have continued to be restored, the pace of sales recovery has slowed down. There is a clear divergence in popularity between core cities and other cities, and the extent of subsequent restoration remains to be seen.
Auto stocks declined, with Xiaopeng Motors and Great Wall Motors falling more than 6%, NIO falling more than 5%, Ideal Auto falling by more than 4%, and Geely Automobile and Guangzhou Automobile Group falling one after another.
Agricultural products stocks had the highest decline, $HONGJIU FRUIT (06689.HK)$ A drop of more than 13%, $CHINA WANTIAN (01854.HK)$ 、 $GLOBAL SWEET (03889.HK)$ 、 $BESUNYEN (00926.HK)$ etc., have declined one after another.
Gaming stocks bucked the market and rose. $GALAXY ENT (00027.HK)$ An increase of more than 4%, $PARADISE ENT (01180.HK)$ 、 $SANDS CHINA LTD (01928.HK)$ 、 $WYNN MACAU (01128.HK)$ Up more than 2%
Macau Chief Executive He Yicheng said that he is confident that this year's gaming revenue can reach 130 billion patacas (same below), a sharp recovery from last year's 42.198 billion yuan. He believes that at least 10 billion yuan per month can reach the target. Although gaming revenue of 130 billion yuan is still in deficit, there has been an improvement over the past three years. As for Japan's approval of Osaka City's gambling, He Yicheng declined to comment.
Film and television entertainment stocks have risen, $MAOYAN ENT (01896.HK)$ The increase was more than 7%, and the performance was the best. $LINMON MEDIA (09857.HK)$ An increase of more than 5%, $IMAX CHINA (01970.HK)$ 、 $HUANXI MEDIA (01003.HK)$ Wait until it rises.
According to CITIC Construction Investment's latest research report, judging from recent trends in the film and television industry, there is an abundant supply of 1st and 51st movies, focusing on the imported film “Slam Dunk” distributed by Chinese films. At the same time, it is expected to drive box office growth in terms of both average ticket price and number of movie viewers; 2. Judging from recent weekly movie viewers and average ticket price data, a recovery trend is already showing. Since this year, stock prices have clearly outperformed the media sector. Following the recovery of the box office market, the stock prices of relevant high-quality companies are expected to rebound.
The non-ferrous metals sector continued to rise. $CMOC (03993.HK)$ An increase of more than 10%, $CHINFMINING (01258.HK)$ An increase of more than 4%, $XINGFA ALUM (00098.HK)$ 、 $MMG (01208.HK)$ Keep up.
According to the news, Luoyang Molybdenum Industry announced that the TFM mixed mine project in the Democratic Republic of the Congo (DRC) has achieved a short process of loading and testing. The project is expected to be put into operation in 2023 and will further release the production capacity of the TFM copper and cobalt mine.
Oriental Selection, which had continued to pull back, strengthened again in the intraday period today, closing up 13.51% to HK$33.6. On the evening of April 11, the Oriental Selection Announcement awarded 3 executives and 151 ordinary employees a share reward of 3.459 million shares, accounting for 3% of the total shares issued. This is the first time since 2021 that the company has introduced equity incentives for a large number of employees. Based on the closing price of HK$29 on the day of Oriental Selection, the total value of this stock award is approximately HK$883 million (RMB 775 million).
Fuhong Hanlin closed up 18.35% to HK$16.9, with a total market capitalization of HK$9.185 billion. According to the announcement on the website of the Drug Evaluation Center of the State Drug Administration, the company's innovative BRAF V600E small molecule inhibitor HLX208 was officially included in the list of breakthrough treatment varieties. In addition, the recently announced revenue for the first quarter was about 996 million yuan, an increase of about 97.2% over the previous year. The company has entered a new stage of sales growth, and the commercialization of products has gained strong impetus.
Today, there was a net inflow of capital of HK$4,531 billion, including a net inflow of HK$2.36 billion from Hong Kong Stock Connect (Shanghai) and a net inflow of HK$2.71 billion from Hong Kong Stock Connect (Shenzhen).
Looking ahead to the future market, China's economy is basically looking good, or it may continue to support Hong Kong stocks. China's downgrade beyond expectations, the collapse of overseas banks, and the continued decline in oil prices all reflect the strengthening of expectations of the current global economic recession. Investors' concerns about the current market caused Hong Kong stocks to start higher and lower in the first quarter. Currently, valuations are low. However, in the long run, considering the easing of inflationary pressure in the US, the Fed's interest rate hike has come to an end, and overseas liquidity has been marginally mitigated; as of April 13, 177 listed companies have disclosed their first-quarter earnings forecasts, of which 147 have reported good news, accounting for 83.05%. The domestic economy is basically looking good, and may continue to support Hong Kong stocks.
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bananarama : damn hard to read