Good morning moomooers! Here are things you need to know about today's Hong Kong:
Hong Kong stocks started slightly higher on bargain-buying Friday morning
SMIC 1Q net profit US$160M, up 147.6%
Credit Suisse cuts Hua Hong Semiconductor TP to $47; Rated Neutral
-Moomoo News HK
Market Trend
Hong Kong stocks started slightly higher on bargain-buying Friday morning, tracking a rebound on Wall Street following the previous day's sharp declines fuelled by inflation fears.
The Hang Seng Index rose 0.56 per cent, or 154.02 points, to 27,872.69.
The benchmark Shanghai Composite Index gained 0.19 per cent, or 6.56 points, to 3,436.09, while the Shenzhen Composite Index on China's second exchange edged up 7.12 per cent, or 7.12 points, to 2,260.42.The best performing industries after the bell include environmental protection, infant and child supplies. As for top companies, $BABA-SW(09988.HK)$ and $Kuaishou Technology(01024.HK)$ tanked nearly 5% and 2%. $Tencent(00700.HK)$ is fairly sideways.
source: moomoo
TOP News
SMIC 1Q net profit US$160M, up 147.6%
$Semiconductor Manufacturing International Corporation(00981.HK)$ announced the first quarter's result ended March 2021. The revenue rose 22% year on year to US$1.104 billion. The net profit amounted to US$159 million, up 147.6% yearly. EPS was US$0.02.
BABA-SW 4Q Non-GAAP net income up 18% to RMB26.216B
$BABA-SW(09988.HK)$ announced that in the fourth quarter ended March 31, 2021, the non-GAAP net income was RMB26.216 billion, an increase of 18% year-over-year. Revenue for the quarter was RMB187.395 billion, an annual increase of 64%.
Ratings
*Nomura Lifts $Hua Hong Semiconductor(01347.HK)$ TP to $48, Rated Neutral
*C Suisse Cuts $Hua Hong Semiconductor(01347.HK)$ TP to $47; Rated Neutral
*C Suisse Lifts $MMG Limited(01208.HK)$ TP to $8; Rated Outperform
Source: Business Times, AAstock