Hong Kong stocks review: Hang Seng Tech Index fell 3%, biomedical, semiconductor, and new energy sectors declined
$Hang Seng Index (800000.HK)$ fell 1.71% $Hang Seng TECH Index (800700.HK)$ fell 3.46%.
Today, the Hong Kong stock market experienced a full day of decline, with a depressed market sentiment. The Hang Seng Tech Index plummeted by 3.46%, while the Hang Seng Index and $Hang Seng China Enterprises Index (800100.HK)$ fell 1.71% and 1.96% respectively, with the Hang Seng Index tumbling nearly 350 points, reaching new lows for the month.
Today, the Hong Kong stock market experienced a full day of decline, with a depressed market sentiment. The Hang Seng Tech Index plummeted by 3.46%, while the Hang Seng Index and $Hang Seng China Enterprises Index (800100.HK)$ fell 1.71% and 1.96% respectively, with the Hang Seng Index tumbling nearly 350 points, reaching new lows for the month.
On the market, large-cap technology stocks across the board experienced declines $MEITUAN-W (03690.HK)$ 、 $JD-SW (09618.HK)$ Fell by over 4%, $KUAISHOU-W (01024.HK)$ 、 $XIAOMI-W (01810.HK)$ 、 $BIDU-SW (09888.HK)$ 、 $NTES-S (09999.HK)$ 、 $BABA-W (09988.HK)$ All fell more than 3%;
Biomedical stocks led the market decline, with Wuxi Apptec plummeting more than 10%; before that, there were reports that the Biden administration plans to restrict US investment in China, semiconductor stocks continued to decline, and the decline widened significantly in the afternoon; Tesla concept stocks, lithium battery stocks, photovoltaic stocks, and other new energy stocks were among the top decliners, while casino stocks, defense stocks, auto stocks, mainland real estate stocks, and other sectors all slumped. Institutions are bullish and oil prices have rebounded, so petroleum stocks have performed well in a weak market, with PetroChina rising more than 2% and some mainland banking stocks rising, with China CITIC Bank Corporation rising more than 3%.
Specifically,
Contract research organizations led the decline, $WUXI APPTEC (02359.HK)$ falling more than 10%, $GENSCRIPT BIO (01548.HK)$ falling by more than 8%, $WUXI BIO (02269.HK)$ Fell more than 7%. $JOINN (06127.HK)$ 、 $ASYMCHEM (06821.HK)$ Fell more than 6%. $TIGERMED (03347.HK)$ 、 $PHARMARON (03759.HK)$ falling more than 5%.
Specifically,
Contract research organizations led the decline, $WUXI APPTEC (02359.HK)$ falling more than 10%, $GENSCRIPT BIO (01548.HK)$ falling by more than 8%, $WUXI BIO (02269.HK)$ Fell more than 7%. $JOINN (06127.HK)$ 、 $ASYMCHEM (06821.HK)$ Fell more than 6%. $TIGERMED (03347.HK)$ 、 $PHARMARON (03759.HK)$ falling more than 5%.
On the news front, WuXi AppTec achieved revenue of 8.964 billion yuan in the first quarter, a year-on-year increase of 5.77%; the net profit attributable to shareholders of listed companies was 2.168 billion yuan, a year-on-year increase of 31.97%. This is the first time since WuXi AppTec went public in 2018 that its quarterly revenue growth rate has dropped to single digits. On April 18th, Asymchem Laboratories saw a reduction of 0.11588 million shares by JP Morgan Chase, and after the reduction, its holding ratio decreased from 13.30% to 12.87%. On the same day, Wuxi Biologics saw a reduction of 4.2535 million shares by JP Morgan Chase, and after the reduction, its holding ratio decreased from 7.09% to 6.99%.
Chip stocks fell, $SMIC (00981.HK)$ fall more than 5%, $SHANGHAI FUDAN (01385.HK)$ It fell more than 3%. $HUA HONG SEMI (01347.HK)$ The market fell together.
Recently, there have been reports in the industry that there is more inventory on the consumer side than expected. In addition, Apple's accelerated destocking and the squeeze on non-Apple product applications, coupled with a series of effects, may lead to a rare "peak season not flourishing" phenomenon in the chip design industry in the third quarter of this year. The industry's previous expectations that the second half of the year would significantly outperform the first half may be dashed, and optimism should be tempered.
Lithium batteries declined, $TIANQI LITHIUM (09696.HK)$ falling by more than 8%, $GANFENGLITHIUM (01772.HK)$ 、 $CALB (03931.HK)$ Fell more than 7%. $BYD COMPANY (01211.HK)$ Fell nearly 3%.
Lithium batteries declined, $TIANQI LITHIUM (09696.HK)$ falling by more than 8%, $GANFENGLITHIUM (01772.HK)$ 、 $CALB (03931.HK)$ Fell more than 7%. $BYD COMPANY (01211.HK)$ Fell nearly 3%.
Due to the rapid decline in lithium carbonate prices, the performance of upstream lithium battery companies has been severely affected in the first quarter of this year. According to data released by Shanghai Nonferrous Network, the quoted price of battery-grade lithium carbonate fell by 2,000 yuan/ton today, reaching 176,500 yuan/ton, with a cumulative decline of 65.5% so far this year.
Photovoltaic stocks plummeted. $XINTE ENERGY (01799.HK)$ Fell more than 13%. $XINYI SOLAR (00968.HK)$ Fell more than 6%. $GCL TECH (03800.HK)$ 、 $XINYI GLASS (00868.HK)$ Fell by over 4%, $FUYAO GLASS (03606.HK)$ The market fell together.
Photovoltaic stocks plummeted. $XINTE ENERGY (01799.HK)$ Fell more than 13%. $XINYI SOLAR (00968.HK)$ Fell more than 6%. $GCL TECH (03800.HK)$ 、 $XINYI GLASS (00868.HK)$ Fell by over 4%, $FUYAO GLASS (03606.HK)$ The market fell together.
Defense stocks weaken, $COMEC (00317.HK)$ fall more than 5%, $AVICHINA (02357.HK)$ fall more than 4%.
Pulp and paper stocks decline, $ND PAPER (02689.HK)$ fall 10%. $CHENMING PAPER (01812.HK)$ It fell more than 3%. $LEE & MAN PAPER (02314.HK)$ Fell over 2%.
Petroleum stocks are strong. $PETROCHINA (00857.HK)$ Rising more than 2%. $CHINA OILFIELD (02883.HK)$ 、 $CNOOC (00883.HK)$ and other stocks followed the upward trend.
China mainland banking stocks rose. $CITIC BANK (00998.HK)$ increased by over 3%, $PSBC (01658.HK)$ Rising more than 2%. $BANKCOMM (03328.HK)$ 、 $MINSHENG BANK (01988.HK)$ and other stocks followed the upward trend.
Today, the net inflow of southbound funds was 3.502 billion HKD, with a net inflow of 2.051 billion HKD through the Shanghai-Hong Kong Stock Connect and 1.451 billion HKD through the Shenzhen-Hong Kong Stock Connect.
Looking ahead, for Hong Kong stocks, the overall situation is to grind the bottom and break out, and the breakout ultimately depends on economic recovery and the pricing power of Chinese capital. Economic recovery affects the Internet sector, while the pricing power of Chinese capital affects cyclical stocks, finance, and real estate. In fact, the pricing power of Chinese capital in traditional sectors will become increasingly strong. In mature industries where foreign capital is not favored and industries are constantly being cleared, the targets that survive will be the king, especially some high-quality central and state-owned enterprises, and the pricing power of Chinese capital will become increasingly evident. Prior to the shift from hawkish to dovish stance by the Federal Reserve, overseas factors will likely continue to impact Hong Kong stocks, but with the recovery of the Chinese economy, overseas influences will gradually weaken, especially in the fourth quarter of this year, when the recovery of the Chinese economy will become the main variable driving Hong Kong stocks.
Stars of Tomorrow: $CHALIECO (02068.HK)$
In the first quarter of 2023, the company signed 1,818 new contracts with a total value of 13.976 billion yuan, a year-on-year increase of 26.58%. As of March 31, 2023, the total value of the company's unfinished contracts was 65.962 billion yuan, a year-on-year increase of 3.54%.
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deve : thanks for your efforts sharing the information! greatly appreciated!
Steven000 OP deve : Thank you for your support
Peter YCS : Stock prices have fallen
Over six months, super bad stocks
张文静 Peter YCS : Keep dropping to see where it falls