Hong Kong stock review: The Hang Seng Index rose 0.42%, domestic insurance stocks exploded, and China's Ping An performance rose more than 9% after

Steven000 wrote a column · Apr 27, 2023 04:21

$Hang Seng Index(800000.HK)$ 、 $Hang Seng China Enterprises Index(800100.HK)$ increased by 0.42% and 0.32%, $Hang Seng TECH Index(800700.HK)$ The performance was weak, down 0.26%.
Today, Hong Kong stocks are picking up rapidly in the afternoon. The Hang Seng Index and China Index maintained their gains in the afternoon. They closed up 0.42% and 0.32% respectively, while the Hang Seng Technology Index showed weak performance and fell 0.26%. The net daily inflow of capital from the South was HK$1,497 billion, and the market turnover was HK$97 billion.

Hong Kong stock review: The Hang Seng Index rose 0.42%, domestic insurance stocks exploded, and China's Ping An performance rose more than 9% after

On the market, large technology stocks had mixed ups and downs. $KUAISHOU-W(01024.HK)$ An increase of more than 1%, $XIAOMI-W(01810.HK)$ 、 $MEITUAN-W(03690.HK)$ A slight increase, $BABA-SW(09988.HK)$ 、 $BIDU-SW(09888.HK)$ It fell close to 2%; insurers' first-quarter quarterly reports surged, with domestic insurance stocks leading the way throughout the day, and China showed impressive gains of 9% after Ping An's performance; large infrastructure stocks showed a marked rise, with Chinese head stocks performing well; military stocks, gold stocks, Tesla concept stocks, and local bank stocks in Hong Kong were mostly popular. On the other hand, semiconductor stocks and building materials and cement stocks continued to decline. Prices of Conch Cement were low during the redevelopment phase, and consumer stocks such as pork concept stocks, restaurant stocks, and beer showed poor performance.
Let's take a look specifically:
Insurance stocks led the way, $PING AN(02318.HK)$ Up more than 9%, $CHINA LIFE(02628.HK)$ An increase of more than 5%, $CHINA TAIPING(00966.HK)$ 、 $NCI(01336.HK)$ 、 $CPIC(02601.HK)$ An increase of more than 4%, $AIA(01299.HK)$ Wait until it rises.

According to the news, Ping An of China achieved operating profit of 41,385 billion yuan in the first quarter; net profit attributable to shareholders of the parent company of 38.352 billion yuan, an increase of 48.9% over the previous year; and an annualized operating ROE of 18.8%. Basic operating income per share was $2.34. Open Source Securities believes that considering the good macroeconomic recovery momentum, residents' willingness to invest has rebounded, and demand for savings insurance products may remain relatively high, banking insurance channels are expected to maintain significant growth due to both their own benefits and external factors. The trend of improving supply and demand for savings products is expected to continue in the second quarter, compounded by a phased increase in sales of high-pricing products. It is expected that the insurance debt side will still exceed market expectations in the second quarter.
The heavy infrastructure sector registered the highest increase. $CHALIECO(02068.HK)$ An increase of more than 18%, $JIANZHONG CONS(00589.HK)$ Up more than 9%, $CHINA RAIL CONS(01186.HK)$ An increase of more than 4%, $CHINA RAILWAY(00390.HK)$ Wait until it rises.

Everbright Securities said that as the economic situation gradually became clear after the epidemic and the temperature warmed up in the second quarter, construction projects and scale will continue to expand. It is expected that the growth rate of infrastructure investment will remain high this year, and the physical workload may be better than last year. Guoxin Securities said that local state-owned enterprises have strong construction resource advantages and are expected to continue to benefit from the boom in local infrastructure investment.
Gold stocks generally rose, $CHINAGOLDINTL(02099.HK)$ 、 $LINGBAO GOLD(03330.HK)$ 、 $Shandong Gold Mining(600547.SH)$ An increase of more than 3%, $ZHAOJIN MINING(01818.HK)$ 、 $ZIJIN MINING(02899.HK)$ An increase of more than 1%.

According to the news, according to the latest statistics from the China Gold Association, in the first quarter of 2023, domestic raw gold production was 84.972 tons, an increase of 1.571 tons compared with the same period in 2022, up 1.88% year on year; the country's gold consumption was 291.58 tons, up 12.03% year on year. As the impact of the epidemic gradually subsided and the implementation of a series of policies to promote consumption showed results, consumers' willingness to spend increased. Gold consumption recovered clearly in the first quarter. In particular, the growth rate of gold consumption accelerated markedly in February and March.
The lithium battery sector continues to rise, $Ganfeng Lithium Group(002460.SZ)$ An increase of more than 3%, $BYD ELECTRONIC(00285.HK)$ 、 $TSAKER NE(01986.HK)$ 、 $BYD COMPANY(01211.HK)$ An increase of more than 1%.

According to the news, according to the latest statistics from the China Gold Association, in the first quarter of 2023, domestic raw gold production was 84.972 tons, an increase of 1.571 tons compared with the same period in 2022, up 1.88% year on year; the country's gold consumption was 291.58 tons, up 12.03% year on year. As the impact of the epidemic gradually subsided and the implementation of a series of policies to promote consumption showed results, consumers' willingness to spend increased. Gold consumption recovered clearly in the first quarter. In particular, the growth rate of gold consumption accelerated markedly in February and March.
The anti-epidemic concept is getting stronger, $SHANDONG XINHUA(00719.HK)$ An increase of more than 5%, $BAIYUNSHAN PH(00874.HK)$ 、 $CLOVER BIO-B(02197.HK)$ 、 $TRAD CHI MED(00570.HK)$ An increase of more than 4%, $TONG REN TANG(01666.HK)$ An increase of more than 2%.

The semiconductor sector continues to decline, $HG SEMI(06908.HK)$ fell by more than 9%, $HUA HONG SEMI(01347.HK)$ A drop of more than 8%, $SOLOMON SYSTECH(02878.HK)$ A drop of more than 2%, $SHANGHAI FUDAN(01385.HK)$ Wait until it falls.

Film stocks are weakening, $HUANXI MEDIA(01003.HK)$ 、 $IMAX CHINA(01970.HK)$ A drop of more than 4%, $STRAWBEAR ENT(02125.HK)$ A drop of more than 3%, $ALI PICTURES(01060.HK)$ Decreased by more than 2%.

At the individual stock level, China Merchants Bank fell more than 5% to HK$37.5, with a total market value of HK$945.7 billion. The company announced yesterday that net revenue for the first quarter was RMB 90.625 billion, down 1.49% year on year; net profit to mother was RMB 38.839 billion, up 7.82% year on year. The governor of China Merchants Bank said that this year's revenue challenge is mainly a gap in net interest income growth due to narrowing interest spreads due to repricing. Mr. Peng Jiawen, assistant governor of CMB, added, “Everyone should be mentally prepared for net interest spreads to decline.”

Today, net capital inflows from the South were HK$1,495 million, including a net inflow of HK$433 million from Hong Kong Stock Connect (Shanghai) and a net inflow of HK$1,062 million from Hong Kong Stock Connect (Shenzhen).

Looking ahead, although the fundamentals and capital aspects of the Hong Kong stock market have not fully improved, the medium- to long-term positive trend has not changed; be wary of short-term disturbances caused by some news and data in the short term. In terms of allocation, we continue to be optimistic about the large consumer sector with high certainty during the recovery cycle.

Tomorrow's Stars: $BYD Company Limited(002594.SZ)$
The policy encourages leading electric vehicles to go overseas. With its price advantage, BYD is expected to continue to increase its market share in Europe and the US.

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