Financial Services Association, August 19 (Editor: Feng Yi) Today, the three major indices of Hong Kong stocks collectively closed higher, and the Hang Seng Index had two consecutive days to drive market sentiment to pick up.

Note: Hang Seng Index performance

By the close, the Hang Seng Index rose 0.80% to close at 17569.57 points; the Technology Index rose 1.68% to close at 3517.09 points; and the State-owned Enterprises Index rose 1.04% to close at 6225.86.

Today's market

Judging from the performance of individual stocks, automobile and gold stocks led the way. The gaming and financial sectors showed active performance, but energy industries such as coal, electricity, and petroleum weakened.

Expectations of interest rate cuts drive up gold prices and accelerate the rise in gold stocks

Among gold stocks, Lingbao Gold (03330.HK) rose nearly 8%, while Shandong Gold (01787.HK) and Zhaojin Mining (01818.HK) both rose more than 5%.

According to the news, the international gold price rose above the 2,500 US dollars/ounce mark last Friday and is still above this price.

However, as the market's expectations for the Fed's interest rate cut continue to strengthen, institutions expect gold prices to rise again starting in the fourth quarter, and short-term gold stocks will gather popularity.

“Trade-in” subsidies increase the collective strengthening of auto stocks

Among auto stocks, Ideal Automobile-W (02015.HK) rose more than 5%, Xiaopeng Motor-W (09868.HK) rose nearly 4%, and NIO SW (09866.HK) rose nearly 3%.

According to the news, on August 16, 7 departments including the Ministry of Commerce issued the “Notice on Further Accomplishing Car Trade-In Work”, and the subsidy standard was raised drastically.

Specifically, in terms of vehicle scrapping and renewal, the subsidy standard was raised from the original subsidy of 0.01 million yuan for the purchase of new energy passenger vehicles and 7,000 yuan for the purchase of fuel-fueled passenger cars to 0.02 million yuan and 15,000 yuan respectively, all of which have more than doubled.

In addition, data shows that in July, the retail sales of new energy passenger vehicles were 0.878 million vehicles, up 36.9% year on year, up 2.8% month on month, and the penetration rate reached 51.1%. This is the first time that the monthly retail sales of new energy passenger vehicles in China surpassed fuel passenger cars.

Energy stocks left behind and coal and electricity stocks collectively declined

Among energy stocks, Yankuang Energy (01171.HK) fell more than 1%, while leading companies such as China Shenhua (01088.HK) and CLP Holdings (00002.HK) all closed down.

Guohai Securities Research Report pointed out that due to the recent decline in the performance of some coal stocks and the wait-and-see attitude of some institutions towards coal prices. Furthermore, recent pessimistic expectations on the demand side of the international crude oil market may have had a brief impact on energy prices.

Driven by favorable policies recently, clean energy and green power concepts are relatively active in the market, and have also had an extractive effect on the financial side of traditional energy stocks.

Southbound funding

There was an unexpected net outflow of HK$6.177 billion to the south today. It did not combine with the rebound of the Hang Seng Index. Instead, it showed a trend of higher and lower positions.

Changes in individual stocks

[Zhixing Auto Technology was included in the Hang Seng Index, up nearly 30% in a single day]

Zhixing Automotive Technology (01274.HK) closed up 29.25% today. According to the latest quarterly inspection results released by the Hang Seng Index Company, the company was selected and included as a constituent stock in the Hang Seng Index series, effective September 9, 2024. According to the company, the board of directors is expected to be included to help improve the trading liquidity of the company's shares.

In addition, Zhixing Auto Technology also previously announced interim results. Revenue was 0.636 billion yuan, up 17.11% year on year; gross profit was 44.852 million yuan, up 9.29% year on year.

[Minmetals Real Estate expects to lose more than 1 billion in the first half of the year, and the stock price falls by more than 20%]

Minmetals Real Estate (00230.HK) closed down 20.59% today, ranking at the top of the list of individual stock declines. The company previously issued an early warning notice. The net loss for the first half of the year is expected to be about 1 billion yuan, changing from profit to loss over the same period last year.

Notably, according to an article published by Kerui Real Estate Research, second-hand housing transactions continued to weaken month-on-month in the first half of August, leaving the real estate sector weak in the short term.

Specifically, total new housing transactions in 30 cities fell 21% compared to the same period in July, and the total volume of second-hand housing transactions in 15 cities decreased by about 28%. Compared with the same period last year, the overall growth of new homes maintained negative growth, while second-hand housing remained slightly positive. Kerui Real Estate expects new and second-hand housing transactions in August to be less than in July, and will still fall by about 10% from the previous month.