Hong Kong stock review: Hang Seng Technology Index fell 0.22%, Hang Seng Index fell below 20,000 points, gold, aviation and tourism plummeted

Steven000 wrote a column · Apr 24, 2023 05:05

The full-day net inflow of capital going south was HK$1,746 billion, and the market turnover was less than HK$100 billion.

Today, Hong Kong stocks now have a V-shaped trend in the afternoon. $Hang Seng TECH Index(800700.HK)$ At one point, it plummeted 1.7%, and the rally at the end of the session almost turned red, and finally fell 0.22%, h $Hang Seng Index(800000.HK)$ 、 $Hang Seng China Enterprises Index(800100.HK)$ It fell 0.58% and 0.46% respectively, and the Hang Seng Index fell 115 points and fell below the 20,000 point mark. The full-day net inflow of capital going south was HK$1,746 billion, and the market turnover was less than HK$100 billion.

Hong Kong stock review: Hang Seng Technology Index fell 0.22%, Hang Seng Index fell below 20,000 points, gold, aviation and tourism plummeted

On the market, most of the large technology stocks fell. $TENCENT(00700.HK)$ 、 $BABA-SW(09988.HK)$ 、 $XIAOMI-W(01810.HK)$ They all fell by more than 1%. $KUAISHOU-W(01024.HK)$ An increase of 3%, $NTES-S(09999.HK)$ It rose 1.2%; international gold prices fell below 1980 US dollars for the first time since April, and gold stocks retreated across the board. There is still no obvious recovery and upward trend in real estate. Domestic housing stocks and property management stocks have joined hands to decline, and industry chain stocks such as home appliance stocks and steel stocks have plummeted. Biden wants to limit US companies' investment in China, and semiconductor stocks have performed sluggishly throughout the day. On the other hand, the COVID-19 variant hit, and the performance of anti-epidemic concept stocks was eye-catching. $CLOVER BIO-B(02197.HK)$ An increase of more than 11% led by an increase of more than 11%, and automobile stocks and power stocks strengthened. $BYD COMPANY(01211.HK)$ Up 3.6%.

Let's take a look specifically:

Gold stocks fell in unison, $CHINAGOLDINTL(02099.HK)$ A drop of more than 4%, $ZHAOJIN MINING(01818.HK)$ 、 $ZIJIN MINING(02899.HK)$ 、 $SD GOLD(01787.HK)$ Decreased by more than 2%.

According to the news, Zijin Mining was reduced by 4662 million shares at an average price of HK$14,336 per share by GIC Private Limited on April 18, involving about HK$66.834 million. After reducing its holdings, its shareholding ratio fell from 7.07% to 6.99%. The Guojin Securities Research Report pointed out that although the market currently expects interest rate hikes of 25BP in May, after the Fed lowered interest rate hikes in November 2022, gold prices and gold stocks have entered right-sided trading opportunities. Whether interest rates were raised in May or not will not affect this judgment. Judging from the historical recovery, once the Fed actually cuts interest rates for the first or second time, it means that it will be more difficult to obtain relative returns on gold stocks from then on.

Airline stocks and travel stocks have plummeted. $TONGCHENGTRAVEL(00780.HK)$ A drop of more than 3%, $CTG DUTY-FREE(01880.HK)$ 、 $CHINA SOUTH AIR(01055.HK)$ 、 $CHINA EAST AIR(00670.HK)$ 、 $AIR CHINA(00753.HK)$ A drop of more than 2%, $CATHAY PAC AIR(00293.HK)$ 、 $MEILAN AIRPORT(00357.HK)$ Decreased by more than 1%.

As May 1st approaches, concerns about the epidemic have resurfaced, and tourist hotels, which had previously surged, have pulled back.

Home appliance stocks have weakened, $HAIER SMARTHOME(06690.HK)$ A drop of more than 3%, $JS GLOBAL LIFE(01691.HK)$ 、 $SKYWORTH GROUP(00751.HK)$ Wait until it falls.

Sporting goods stocks declined, $LI NING(02331.HK)$ 、 $BOSIDENG(03998.HK)$ 、 $CHINA DONGXIANG(03818.HK)$ A drop of more than 3%, $TOPSPORTS(06110.HK)$ ， $ANTA SPORTS(02020.HK)$ 、 $XTEP INT'L(01368.HK)$ Decreased by more than 1%.

Anti-epidemic concept stocks rose collectively, $CLOVER BIO-B(02197.HK)$ An increase of more than 11%, $SHANDONG XINHUA(00719.HK)$ An increase of more than 5%, $ALI HEALTH(00241.HK)$ 、 $KINTOR PHARMA-B(09939.HK)$ Up more than 4%, $CANSINOBIO(06185.HK)$ 、 $TRAD CHI MED(00570.HK)$ 、 $ASCLETIS-B(01672.HK)$ 、 $CSPC PHARMA(01093.HK)$ An increase of more than 3%.

According to the news, topics related to the second COVID-19 infection sparked a buzz over the weekend. People are generally concerned about whether the peak of the second wave of COVID-19 infections will arrive. Fangzheng Securities believes that it is possible to lay out oral COVID-19 drugs in the short term, but in the long term, it will continue to lay out enterprises with improved management efficiency and profitability in the reform of central enterprises and state-owned enterprises, and continue to dig deeper into the undervaluation of traditional Chinese medicine and the high quality of innovative drugs.

Electricity stocks are generally rising, $HUADIAN POWER(01071.HK)$ An increase of more than 5%, $HUANENG POWER(00902.HK)$ Increased by 2%, $DATANG POWER(00991.HK)$ 、 $CHINA RES POWER(00836.HK)$ Wait until it rises.

According to the news, by the end of March, the country's cumulative installed power generation capacity was about 2.62 billion kilowatts, an increase of 9.1% over the previous year. In March, the country's power generation capacity was 717.3 billion kilowatt-hours, up 5.1% year on year. Among them, thermal power generation changed from decline to increase, up 9.1% year on year. Guohai Securities pointed out that the power generation in January-March was less than the electricity consumption of the whole society, and the overall power supply and demand showed a “tight balance”. In the future, as production and living needs recover, the “tight balance” pattern may be maintained, maintaining the industry's “recommended” rating.

Auto stocks rebounded, $BRILLIANCE CHI(01114.HK)$ An increase of more than 5%, $BYD COMPANY(01211.HK)$ An increase of more than 3%, $NIO-SW(09866.HK)$ 、 $XPENG-W(09868.HK)$ 、 $LI AUTO-W(02015.HK)$ Wait until it rises.

According to the news, people familiar with the matter revealed that the Shenyang municipal government plans to buy 30% of Brilliance China's shares, thereby indirectly holding shares in BMW Brilliance, a joint venture owned by Brilliance China. Brilliance China and BMW currently hold 25% and 75% of BMW Brilliance's shares respectively. Vice Minister of Industry and Information Technology Xin Guobin said that the next step is to continue to make every effort to achieve steady growth, carefully study and formulate, and introduce effective policies to stabilize and expand automobile consumption in due course, and promote the development of the NEV industry more vigorously and at a higher level. Improve the policy system, promote research and clarify vehicle purchase tax exemption policies after 2023 as soon as possible, and formulate support policies such as speeding up the construction of charging and switching, and the promotion and application of new energy vehicles in the public sector.

Today, there was a net inflow of southbound capital of HK$1,745 million, of which a net inflow of HK$700 million from Hong Kong Stock Connect (Shanghai) and a net inflow of HK$1,045 million from Hong Kong Stock Connect (Shenzhen).

Looking forward to the future, CICC believes that for the market now, what is more important is not how strong the “past” data is, but rather the momentum of the “future.” The market may lack a clear direction and a heavier structure in the short term to maintain a consolidated trend, but the risk of a sharp downturn is also limited. In the medium term, the outlook for the market is not pessimistic; any sharp pullback due to unexpected shocks is a good opportunity for a better rearrangement. The configuration uses a “dumbbell” strategy, focusing on state-owned enterprises with high dividend potential (dividend cash flow) and high-quality growth sectors with good profits (operating cash flow, such as the Internet, and software and hardware sectors).

Tomorrow's Stars: $COMEC(00317.HK)$

$Hang Seng TECH Index(800700.HK)$

$Hang Seng Index(800000.HK)$

$Hang Seng China Enterprises Index(800100.HK)$

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HopelessChi : time to call for exit of chinese stocks? they cannot uplift promises and fail to protect investor interest. clampdown is one and next, donation to common prosperity seem by raising IPO to suck more money to fund its own debt.

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