Hong Kong stock review: Hang Seng Index rose 0.14%, semiconductor stocks showed active performance, auto stocks fell

The full-day net outflow of capital going south was HK$2,522 billion, and the market turnover was HK$101.5 billion.

Hong Kong stocks remained volatile in a narrow range throughout the day, and market sentiment generally stabilized. $Hang Seng Index(800000.HK)$ 、 $Hang Seng China Enterprises Index(800100.HK)$ It increased by 0.14% and 0.09%, respectively. $Hang Seng TECH Index(800700.HK)$ There was a slight decline of 0.09%, and the amplitude of the three was within 1% throughout the day. The full-day net outflow of capital going south was HK$2,522 billion, and the market turnover was HK$101.5 billion.

On the market, the rise and fall of large technology stocks varied. $MEITUAN-W(03690.HK)$ Increased by 3.5%, $NTES-S(09999.HK)$ 、 $XIAOMI-W(01810.HK)$ There was a slight increase, $KUAISHOU-W(01024.HK)$ A drop of more than 5%, $JD-SW(09618.HK)$ 、 $BABA-SW(09988.HK)$ Decrease; the industry continues to be favorable, and semiconductor stocks are performing actively. $SMIC(00981.HK)$ Prices in the renewal stage are high; high speed rail infrastructure stocks have risen, and the performance of leading Chinese stocks is eye-catching; ZTE and China Railway have the highest gains; home appliance stocks, gas stocks, domestic insurance stocks, and Hou gambling stocks have risen one after another. On the other hand, Tesla's price reduction actions have caused profit margins to be damaged, auto stocks have declined drastically, and the direction of new energy vehicles has plummeted. $XPENG-W(09868.HK)$ At the end of the session, it fell by more than 8%; international gold prices fell below 2,000 US dollars, and there was a clear pullback in gold stocks that were strong in the previous period. The market is concerned that sales in the second quarter will slow down, and domestic housing stocks will continue to fall.

Let's take a look specifically:

The semiconductor sector had the highest growth rate, $QPL INT'L(00243.HK)$ An increase of more than 9%, $GENES TECH(08257.HK)$ It has risen by more than 8%, and SMIC has risen by more than 6%. $SMART-CORE(02166.HK)$ 、 $HUA HONG SEMI(01347.HK)$ Wait until it rises.

Domestic insurance stocks are generally rising, $CHINA TAIPING(00966.HK)$ An increase of nearly 4%, $CHINA LIFE(02628.HK)$ Over 3%, $PICC GROUP(01339.HK)$ 、 $PICC P&C(02328.HK)$ 、 $CPIC(02601.HK)$ Wait until it rises.

China Ping An, China Taibao, and China Taiping recently released March data. According to the Daiwa Development Report, the gross premiums of listed insurers in March increased 10% year-on-year and 3% in the first quarter, mainly due to the continued “jumpstart” (Jumpstart) of pre-sales (Jumpstart) and strong bank insurance sales. It is expected that the new business value growth of insurers in the first quarter was medium (about 2% to 15%). Furthermore, according to the Lyon Development Research Report, it is expected that domestic insurance companies' new business value (NBV) will grow positively in the first quarter due to the low base effect and improved sales of savings products.

The performance of infrastructure stocks was active, $WMHW(08217.HK)$ 、 $MAXICITY(02295.HK)$ An increase of more than 6%, $WAI KEE HOLD(00610.HK)$ An increase of more than 5%, $CHINA RAILWAY(00390.HK)$ 、 $CHINA RAIL CONS(01186.HK)$ Wait until it rises.

A previous research report by Tianfeng Securities pointed out that with the recovery of the domestic economy, the apparent growth rate of natural gas consumption across the country in '23 is expected to return to a reasonable growth range. The increase in natural gas demand will drive the recovery of gas sales by urban fuel companies; furthermore, the gradual implementation of price adjustment work is compounded by the recovery of gas demand in the high gross margin industry, so it is expected that the gross margin of urban combustion companies will be repaired.

Agricultural products stocks continued to fall, $CHINA FIN INV(00875.HK)$ A drop of more than 8%, $HONGJIU FRUIT(06689.HK)$ A drop of more than 7%, $CHAODA MODERN(00682.HK)$ 、 $GOLDEN RES DEV(00677.HK)$ 、 $CHINA WANTIAN(01854.HK)$ Wait until it falls.

Automobile stocks generally fell, and Xiaopeng Motor fell by more than 8%. $NIO-SW(09866.HK)$ A drop of more than 5%, $LI AUTO-W(02015.HK)$ Decreased by more than 4%, $GWMOTOR(02333.HK)$ 、 $GEELY AUTO(00175.HK)$ Wait until it falls.

According to the news, overnight, automobile leader Tesla announced its first-quarter earnings report, and net profit fell sharply by 20%. As Tesla launched a price war in March, domestic new energy vehicles joined the price reduction ranks one after another. Bernstein analyst Toni Sacconaghi said earlier that many investors believe that Tesla's price cuts reflect structural cost advantages, which will enable it to put pressure on competitors and gain huge sales volume and dominate the electric vehicle market. He believes that price cuts have already and will weaken the industry's profitability.

The lithium battery sector declined collectively, $Tianqi Lithium Corporation(002466.SZ)$ Decreased by 6%, $Ganfeng Lithium Group(002460.SZ)$ 、 $CALB(03931.HK)$ Decreased by 3%, $HONBRIDGE(08137.HK)$ 、 $CHINA GRAPHITE(02237.HK)$ Follow the decline.

Tomorrow's Stars: $KINGSOFT CLOUD(03896.HK)$