Closing snapshot | The three major indices all fell, with the technology index dropping more than 1%; local real estate and China-affiliated brokerage stocks declined, with Shanghai Tang leading the decline in network technology stocks by dropping more than 13%; Maogeping surged over 76% on its first day.
On December 10th, Futu News reported that Hong Kong stocks opened high but turned lower in the afternoon session. At the close, all three indices collectively reversed down. $Hang Seng Index (800000.HK)$ 0.50% lower.Hang Seng Tech Index (800700.HK) fell by 1.39% Hang Seng China Enterprises Index (800100.HK) Decreased by 0.74%.
As of the close, 749 Hong Kong stocks rose, 1323 fell, and 1015 remained unchanged.
The specific industry performance is as shown in the following chart:
As for sectors,
Network technology stocks performed poorly, with SST-W down 13.51%, Kuaishou-W down 2.68%, Tencent down 1.81%, JD.com-SW up 0.72%, Alibaba-W down 0.35%, Netease-S up 0.20%, Meituan-W up 0.06%.
Chinese-affiliated brokerage stocks declined, with China Merchants Securities down 10.12%, Everbright Securities down 5.82%, CITIC Securities down 5.25%, CICC down 5.13%, China Galaxy down 4.24%, GF Securities down 3.45%.
Mainland real estate stocks weakened, with Sunac down 9.69%, Shimao Group down 8.09%, R&F Properties down 7.26%, CIFI Hold GP down 6.67%, China Vanke down 5.58%.
Multiple Apple concept stocks declined, with Cowell down 5.59%, BYD Electronic down 3.73%, V-SJET down 3.40%, FIH down 3.23%, Sunny Optical down 3.13%, Q Tech down 2.44%, Tongda Group down 1.18%, AAC Tech down 0.52%.
Biotechnology stocks decline, Jingtail holding-P drops by 7.68%, Beigene falls by 5.68%, Wuxi Bio drops by 3.89%, Wuxi Apptec drops by 3.59%, Yunding Newstar-B drops by 3.55%, Akeso drops by 3.54%, WuXi Biologics falls by 0.79%, Juzi Bio falls by 0.59%.
Building materials stocks decline across the board, China Tianrui Cement drops by 6.35%, CNBM falls by 3.90%, Conch Cement drops by 3.45%, BBMG Corporation falls by 2.33%, CR Bldg Mat Tec drops by 1.67%, China Lesso falls by 1.33%, West China Cement rises by 1.18%, Huaxin Cement rises by 0.37%.
Alcoholic beverages stocks decline across the board, Gracewine rises by 14.44%, Wine's Link Holdings rises by 13.04%, Dynasty Wines rises by 6.85%, Zhenjiu Lidu falls by 6.44%, Tibet Water Resources rises by 6.35%, China Res Beer falls by 2.38%, Tsingtao Brew falls by 2.11%, Bud APAC falls by 1.31%.
Regarding individual stocks,
Times Electric (03898.HK)Opens high and falls, closing with an increase of over 4%, planning to repurchase H shares for up to 1.7 billion RMB.
Prada (01913.HK)Rises by over 3%, strong performance of MiuMiu brand, UBS Group predicts a 16% year-on-year increase in company's sales.
Cg Services (06098.HK)Down more than 6%, recently cleared Zhuhai Wanda shares, and Leon lowered the company's future two-year earnings forecast.
China Tianrui (01252.HK)Drop more than 6%, resume trading yesterday soared more than 12 times, the company's mid-term performance still needs to be realized.
Gd Land (00124.HK)Down more than 17%, Guangdong Inv plans to distribute 73.72% of its holding in GD Land as special dividends.
Mengyuan (02585.HK)Rising more than 12%, the company's full industry chain layout, franchise operation model helps penetrate the sinking market.
Grandshores Technology (01647.HK)Cryptocurrency market suffers another heavy blow with a drop of over 8%.
Geenomics (02566.HK)During intraday trading, it fell more than 5% to hit a new low, down 40% from the IPO price; it closed down over 4%, with a total market value of less than 2 billion Hong Kong dollars.
Sun Art Retail (06808.HK)Currently up over 5%, major banks state that both the recovery of same-store sales and potential acquisitions are the main drivers for the company.
"Hong Kong stock Guo Guo Makeup is the first stock" Mega Growth (01318.HK)The stock opened high and continued to rise on the first day, with the intraday increase expanding to over 90%, closing up 76.51%.
Top 10 trading volumes today
Hong Kong stock connect funds
Regarding the Hong Kong stock connect, there was a net outflow of 10.324 billion Hong Kong dollars through the Hong Kong stock connect (Southbound) today.
Institutional Perspective
Dahua Jixian maintains its bullish view on mainland real estate, expecting more supportive policies to be introduced.
Dahua Jixian stated in a research report that the Central Political Bureau meeting yesterday (9th) indicated that in 2025, a moderately loose monetary policy will be adopted for the first time since 2012, anticipating more supportive policies in the future. This could benefit the real estate market, and currently maintains a "buy" view on the real estate sector.
The bank noted that while buyer confidence recovery takes time, lower expected LPR, setting performance indicators for local governments, and the central government supporting destocking work with bonds are crucial for stabilizing the market. The land market atmosphere has improved in November, with many private developers re-entering the land bidding, reflecting an improvement in the investment climate.
Da Fa Ji Xian currently China Res Land (01109.HK) 、 $China Overseas Development (00688.HK)$ And Longfor Group (00960.HK) maintains a 'buy' rating, with target prices of 32.4 yuan, 18.6 yuan, and 17.2 yuan, among which Longfor Group and China Overseas are the top choices for developers with private and state-backed backgrounds respectively.
Goldman Sachs: Xiaomi YU7 is expected to become one of the best-selling high-end new energy SUVs in China, with a 'buy' rating
高盛發佈研究報告稱，予 $小米集團-W (01810.HK)$ 「買入」評級，目標價33.3港元。報告指，基於已披露的規格尺寸、性能和續航能力的支持，對「小米YU7」需求前景持正面看法 ，並認爲「小米YU7」有潛力成爲中國最暢銷的高端新能源SUV之一。
該行表示，自今年3月首款車型SU7強勢登場以來，表現超出該行原先的預期，持續鞏固其作爲最暢銷高級BEV轎車之一的領導地位，今年以來月均零售量達0.013 million輛，與特斯拉Model 3看齊，自2024年10月以來，月均零售量達兩萬輛以上。
野村：京東物流收購跨越速運餘下權益估值合理，釋放更多協同效應
野村發表研報指， $京東物流 (02618.HK)$ 收購跨越速運餘下權益的交易估值合理，協議設有與業績掛鉤的對價調整機制，以最高代價計算，此次收購跨越速運的交易估值爲後者去年及預測今年市盈率的12倍及8倍，低於行業平均水平。野村維持對京東物流的「買入」評級，目標價17.8港元。
The bank also stated that as of the first half of this year, JD Logistics had a net cash balance of 17.3 billion RMB, with the ability to pay the transaction price. The agreed installment payment method can further alleviate the company's pressure. Nomura believes that Kuayue Express is a valuable asset and expects that after the acquisition, JD Logistics can better integrate resources from both companies, enhance its competitiveness, improve operational efficiency, and realize synergies.
Dahua Jixian maintains its bullish view on mainland real estate, expecting more supportive policies to be introduced.
Dahua Jixian stated in a research report that the Central Political Bureau meeting yesterday (9th) indicated that in 2025, a moderately loose monetary policy will be adopted for the first time since 2012, anticipating more supportive policies in the future. This could benefit the real estate market, and currently maintains a "buy" view on the real estate sector.
The bank noted that while buyer confidence recovery takes time, lower expected LPR, setting performance indicators for local governments, and the central government supporting destocking work with bonds are crucial for stabilizing the market. The land market atmosphere has improved in November, with many private developers re-entering the land bidding, reflecting an improvement in the investment climate.
Da Fa Ji Xian currently China Res Land (01109.HK) 、 $China Overseas Development (00688.HK)$ And Longfor Group (00960.HK) maintains a 'buy' rating, with target prices of 32.4 yuan, 18.6 yuan, and 17.2 yuan, among which Longfor Group and China Overseas are the top choices for developers with private and state-backed backgrounds respectively.
Goldman Sachs: Xiaomi YU7 is expected to become one of the best-selling high-end new energy SUVs in China, with a 'buy' rating
高盛發佈研究報告稱，予 $小米集團-W (01810.HK)$ 「買入」評級，目標價33.3港元。報告指，基於已披露的規格尺寸、性能和續航能力的支持，對「小米YU7」需求前景持正面看法 ，並認爲「小米YU7」有潛力成爲中國最暢銷的高端新能源SUV之一。
該行表示，自今年3月首款車型SU7強勢登場以來，表現超出該行原先的預期，持續鞏固其作爲最暢銷高級BEV轎車之一的領導地位，今年以來月均零售量達0.013 million輛，與特斯拉Model 3看齊，自2024年10月以來，月均零售量達兩萬輛以上。
野村：京東物流收購跨越速運餘下權益估值合理，釋放更多協同效應
野村發表研報指， $京東物流 (02618.HK)$ 收購跨越速運餘下權益的交易估值合理，協議設有與業績掛鉤的對價調整機制，以最高代價計算，此次收購跨越速運的交易估值爲後者去年及預測今年市盈率的12倍及8倍，低於行業平均水平。野村維持對京東物流的「買入」評級，目標價17.8港元。
The bank also stated that as of the first half of this year, JD Logistics had a net cash balance of 17.3 billion RMB, with the ability to pay the transaction price. The agreed installment payment method can further alleviate the company's pressure. Nomura believes that Kuayue Express is a valuable asset and expects that after the acquisition, JD Logistics can better integrate resources from both companies, enhance its competitiveness, improve operational efficiency, and realize synergies.
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