HK stocks morning review: the three major indexes opened slightly higher, bullish policies boosted electric power stocks and U-Presid China fell by 2.8%.
Last week, Hong Kong stocks rebounded after falling, and the Hang Seng Index returned above the 17,000 mark. Today, the three major indexes opened slightly higher, with the Hang Seng Index up 0.07%, the CSI up 0.13%, and the Hang Seng Tech Index up 0.04%.
Technology and real estate stocks led the gains, Hang Seng Index broke through the low-range mode.
By ATFX Hong Kong shares rose more than 300 points this morning and then slowed down. The National Bureau of Statistics announced that CPI in July rose 0.5% year-on-year, higher than market expectations. The mainland stock market stabilized this morning, bringing a boost to Hong Kong stocks. The Hang Seng Index rose 299 points or 1.8% to 17,191 points at midday; the National Index rose 115 points or 1.9% to 6,056 points; and the Hang Seng Tech Index rose 98 points or 2.9% to 3,465 points. Technology stocks rose more than 1.9% in the afternoon, with Semiconductor Manufacturing International Corporation (00981) leading the way, followed by Baidu (09888), Netease (09999), Weibo (09898), and Kuaishou (01).
Bocom Intl: Top new games continue to drive the mobile gaming market, bullish on Tencent's (00700) accelerating growth in mobile gaming revenue.
Taking into account the increase in new game volume and the competition in categories such as second dimension, it is expected that the mainland China's mobile game revenue growth in the second half of the year will maintain high single-digit yoy growth, with the third quarter potentially slowing to single digits.
Netease (09999) rose 2.43%. Its mobile game 'Endless Hegemony' has been downloaded over 4.14 million times on the IOS system in China.
Golden Finance News | Netease (09999) is steadily rising, up 2.43%, at HKD 139.2 as of this writing. According to Sensor Tower, Netease's mobile game, "Endless Trial," had 4.14 million downloads on China's Apple iOS system in the first two weeks, comparable to Tencent's Dungeon and Warriors mobile game launch. Sensor Tower said that Dungeon and Warriors had 4.3 million downloads on the iPhone platform during its first two weeks in China, generating revenue of $118 million.
S&P rises over 2%, the best in nearly two years, with chip stocks up about 7%, Nasdaq and Chinese stocks up 2.8%, and US Treasury yields and the yen falling for three consecutive days.
The latest employment data alleviates concerns over the US economy, and US stocks rose more than 1.7%. Nvidia's stock rose more than 6%, and Tesla, Alibaba, PDD Holdings, and Tencent ADR rose more than 3%. Bullish on weight loss drug reports, Eli Lilly and Co's stock rose more than 13%, and Novo-Nordisk A/S's US stock rose nearly 8%. The 10-year US Treasury yield rose above 4%, and short-term bond yields rose by 10 basis points. Oil prices rose for the third consecutive day, gold halted its five-day decline, and digital currency had a big increase.
Hong Kong Shares 0.9% Lower, Tracking Wall Street's Declines -- Market Talk
What's Going On With NetEase (NTES) Stock?
Furui: Monthly game approvals in mainland China have entered the right track. Tencent is the preferred industry leader (00700).
Furui rates Tencent, XD Inc, and Netease as 'buy', with Tencent as the top pick.
Netease-S (09999.HK) will hold a board of directors meeting on August 21 to approve the second quarter performance.
Netease-S (09999.HK) announced on August 5th that the board of directors will hold a meeting on August 21st, 2024, approving the unaudited performance and announcement of the second quarter and first half of 2024 ending on June 30th, 2024, as well as distributing the proposal of quarterly dividend.
NTES-S: DATE OF BOARD MEETING AND DATE OF PUBLICATION OF RESULTSANNOUNCEMENT FOR THE SECOND QUARTER AND FIRST HALF OF 2024
NetEase to Report Second Quarter 2024 Financial Results on August 22
Hong Kong Stock Concept Tracking | Game version numbers issued in August! The supply side is steadily improving, driving the continued recovery of the industry's business climate. (Attached concept stocks)
On August 2nd, the website of the National News and Publishing Administration updated the approval information for imported online games in August 2024, with a total of 15 games approved, including Tencent's Rainbow Six and Shenzhen ZQGame's Ragtag Sailor.
In August, 15 online games were approved for import, including Tencent (00700) and NetEase (09999).
On August 2nd, the State Administration of Press and Publication released information on the approval of 15 imported online games for August.
Domestic games may usher in a historic change, as the trillion-dollar industry enters a period of intensive catalysis.
The highly anticipated domestic single-player masterpiece "Black Myth: Wukong" will be globally released on August 20th.
[Brokerage Focus] Pu Yin International: Many new games debut at ChinaJoy and are expected to promote industry recovery.
Jingu Wealth News | Pu Yin International stated that the 21st ChinaJoy was successfully held from July 26 to July 29, 2024, with a record high number of exhibitors, and game developers exhibiting numerous new games. The industry achieved steady growth in the first half of the year, with stable issuance of game publishing numbers and a dense lineup of major summer releases, which is expected to usher in a new round of product cycles. From January to July 2024, the State Administration of Press and Publication has issued a total of 794 game publishing numbers, a year-on-year increase of 25%. Among them, there were 733 domestic publishing numbers and 61 imported publishing numbers, and the supply-side pressure continued to be released. At present, it appears that the game product cycle for the whole year is relatively
NetEase's New Mobile Game Solid, But May Fall Short of Expectations -- Market Talk
China Unlikely to Consider Wider Rethink of Policy Direction
HTSC: Small games maintain a strong growth trend, and game development overseas continues to advance.
HTSC released a research report stating that the 24H1 game market grew by 2.08% year-on-year, with stable industry policies.
Research report digger | CICC: maintains a "outperform" rating for Netease with a target price of HK$206, and expects a 6% YoY growth in revenue in the next quarter.
According to a report by Zhongjin, netease's revenue for the second quarter is expected to increase by 6% year-on-year, but decrease by 6% quarter-on-quarter, to 25.3 billion yuan, with market expectations of 26.1 billion yuan. Non-GAAP net income is expected to decline by 16% and 11% year-on-year and quarter-on-quarter, respectively, to 7.6 billion yuan, with market expectations of 7.93 billion yuan, due to a high base period from exchange gains of 1.47 billion yuan in the same period last year. The report pointed out that netease's new game performance in the third quarter was impressive and may restart quarter-on-quarter growth. The user scale of the mobile game "Endless Pampering Only For You" met expectations, and we are bullish on the ability of large DAU products to leverage revenue and the company's ability to expand the level. Considering the delay in the PC version of "Yanyun sixteen tunes" going online, it is slightly lower than expected.
According to Sensor Tower, the overseas revenue of the top 30 mobile games exported in the first half of the year increased by 15% to $4.5 billion.
Starting from the second half of 2023, the overseas mobile game market will return to an upward trend. In the first half of 2024, the combined revenue of overseas mobile games on the App Store and Google Play channels will reach 32.5 billion US dollars.