On July 19, in the Hong Kong stock market, Beishui traded net purchases of HK$6.124 billion, of which Hong Kong Stock Connect (Shanghai) had a net purchase of HK$4.106 billion and Hong Kong Stock Connect (Shenzhen) had a net purchase of HK$2.017 billion.
The Zhitong Finance App learned that on July 19, the Hong Kong Stock Exchange had a net purchase of HK$6.124 billion, of which Hong Kong Stock Connect (Shanghai) had a net purchase of HK$4.106 billion and the Hong Kong Stock Connect (Shenzhen) transaction had a net purchase of HK$2.017 billion.
The individual stocks that Beishui Net bought the most were Yingfu Fund (02800), Tencent (00700), and China Construction Bank (00939). The individual stocks sold the most by Beishui Net were the Hong Kong Stock Exchange (00388), CNOOC (00883), and Huahong Semiconductor (01347).
Hong Kong Stock Connect (Shanghai) actively traded stocks
Hong Kong Stock Connect (Shenzhen) actively traded stocks
Yingfu Fund (02800) and Hang Seng China (02828) received net purchases of HK$1.126 billion and HK$0.265 billion respectively. According to the news, Guoyuan International pointed out that since the current valuation of Hong Kong stocks is still relatively low, they will be more sensitive to changes in the external environment, especially changes in the Federal Reserve's interest rate, so Hong Kong stocks may have better investment opportunities during the year compared to the first half of the year. CITIC Construction Investment, on the other hand, pointed out that looking ahead to the second half of the year, the bank believes that the sustainability of the market is still worth looking forward to, the upward drive is expected to gradually shift, and domestic macroeconomic recovery expectations are expected to dominate the beta market.
Tencent (00700) received a net purchase of HK$0.841 billion. According to the news, Damo released a research report saying that Tencent's revenue and adjusted operating profit for the second quarter of 2023 are expected to increase 7% and 25% year-on-year, respectively. Meanwhile, Tencent's share repurchases in the second quarter surpassed the sell-off volume of Prosus, the majority shareholder. Lyon, on the other hand, expects Tencent's steady performance in the second quarter of 2024. Driven by a rebound in games and strong advertising growth, total revenue is expected to increase 8% year over year to reach 161.6 billion yuan; adjusted operating profit will increase 24% year over year to reach 57.1 billion yuan.
CCB (00939) received a net purchase of HK$0.376 billion. According to the news, CITIC Securities pointed out that judging from sector investment, early multi-party policies were effective, which helped improve bank risk expectations, increase bank stock valuations with more fundamental support, and further consolidate the certainty of dividend income space. Citi, on the other hand, said that on the banking side, real estate de-inventorization can ease concerns about asset quality and reduce systemic risk and stock risk premiums.
Petroleum stocks diverged. Sinopec (00386) received a net purchase of HK$0.323 billion, while CNOOC (00883) was net sold for HK$83.15 million. According to the news, Guangjin Futures pointed out that in the third quarter, the downward upward trend in oil prices did not change, but due to the accumulation of a certain upward momentum in the previous period, the momentum for continuing to rise weakened. Looking at the medium to long term, pay attention to the actual removal of commercial oil stocks during the peak oil consumption season. Oil prices may shift after approaching the previous high. Entering the fourth quarter, we are concerned about the successive increases in production in oil-producing countries and changes in energy policy as a result of the US election. Oil prices may be falling under pressure.
Chip stocks are also now divided. SMIC (00981) received a net purchase of HK$0.177 billion, while Huahong Semiconductor (01347) was net sold at HK$44.44 million. According to the news, CITIC Securities said that the domestic semiconductor industry has a huge production capacity gap and is expected to continue to expand in the long term; Zhongyuan Securities pointed out that demand in the field of generative AI is strong, and the semiconductor industry has begun a new upward cycle; the Federal Reserve Securities believes that equipment manufacturers have benefited from the factory construction cycle and self-reliance, and are expected to continue to grow.
China Mobile (00941) and China Telecom (00728) received net purchases of HK$0.15 billion and HK$74.68 million respectively. According to the news, J.P. Morgan Chase released a research report stating that it once again “gained” ratings for the three major telecom stocks. The bank is optimistic that China Mobile's yield will reach 7% and the average compound annual dividend growth rate will reach 7%; it is highly defensive in a volatile market; compared to China Telecom and Unicom, China Mobile's stock price is losing, and there is potential to catch up. The bank expects weak earnings from telecom stocks in the second quarter but steady earnings.
Furthermore, Xiaomi Group-W (01810) received a net purchase of HK$0.202 billion, while the Hong Kong Stock Exchange (00388) received a net sale of HK$0.137 billion.