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Northbound water movements | Net sales of 0.083 billion shares by CSPC Pharma (01093), with an increase of 0.4 billion shares in Semiconductor Manufacturing International Corporation (00981) being sold.
On August 22, in the Hong Kong stock market, the net selling of Mainland institutional investors was 8.3 hundred million Hong Kong dollars, of which the net buying of Shenzhen Connect was 1.565 hundred million Hong Kong dollars, and the net selling of Shanghai Connect was 1.648 hundred million Hong Kong dollars.
News flash: Hang Seng Index fell by 1.13%, the technology index fell by 2.75%, with JD.com plummeting over 11%.
On August 21st, the US stock market fell back, and investors took profits as they await the Federal Reserve's meeting minutes and Chairman Powell's speech at the central bank's annual conference. All three major indices closed with losses. The US dollar trended downwards, with the yield on US 10-year Treasury Bonds falling to 3.81%, while gold prices continued to rise and oil prices were under pressure. Today, the three major indices of the Hong Kong stock market opened collectively lower, with the Hang Seng Index down 1.13% to 17313.86 points, the Hang Seng Index for Technology down 2.75%, and the Hang Seng China Enterprises Index down 1.42%. On the market, network technology stocks were hit hard, with JD.com falling by over 11%, and Alibaba, Meituan and NetEase also declining.
[Brokerage Focus] Goldman Sachs raises Semiconductor Manufacturing International Corporation (00981) target price by 5%, but uncertainty in fourth-quarter orders is expected to remain.
Goldman Sachs report indicates that the replenishment demand for Consumer Electronics and Smart phone components of Semiconductor Manufacturing International Corporation (00981) continues to support the company's third-quarter shipments and deliveries. However, as customers typically review and adjust orders within the quarter, there remains uncertainty about the fourth quarter. Based on the company's performance in the second quarter and its outlook for the third quarter, Goldman Sachs raised the company's annual profit expectations for 2024 to 2028 by 64%, 5%, 4%, 4%, and 2% respectively. In addition, revenue expectations for 2024 were raised by 5%, and 2025 and 2026 were
Goldman Sachs: Gives Semiconductor Manufacturing International Corporation (00981) a "Neutral" rating with a target price increase to HKD 22.4.
Goldman Sachs predicts that the revenue forecast for Semiconductor Manufacturing International Corporation (00981) will increase by 5% in 2024.
Hong Kong Shares Rise 0.2%, Tracking Wall Street's Gains -- Market Talk
Semiconductor stocks rose at the beginning of trading, with Hua Hong Semiconductor (01347) up 2.11%. Institutions point out that the performance of semiconductor material companies is expected to continue its growth trend.
Jingu Caixun | Semiconductor stocks rose at the beginning of the trading day, with Smart-Core (02166) up 2.75%, Hua Hong Semi (01347) up 2.11%, Ce Huada Tech (00085) up 1.85%, Semiconductor Manufacturing International Corporation (00981) up 1.69%, and Shanghai Fudan (01385) up 1.27%.
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