Jinwu Financial News | The Hang Seng Index closed at 19,115 points on Monday (13th), up 151 points or 0.8%, and traded 147.238 billion yuan throughout the day. The national index rose 0.6% to 6761; the technical index rose 1.4% to close at 4018. Alibaba (09988) is about to announce results, up 4.1% across the day; Meituan (03690) rose 3.1%, and Ali and Meituan joined forces to contribute a 91-point increase; in domestic housing stocks, Foshan encouraged support for housing “trade-in” and relaxation of the home purchase and entry policy, and second-tier domestic housing was once again promoted. Aoyuan (03883) surged 44.4%;

The Dow closed at 39,431 points, down 81 points or 0.21% on Monday (13th); the index fell 0.02% to 5221 points; and the NASDAQ rose 0.29% to 16,388 points. The Golden Dragon Index, which reflects the performance of Chinese concept stocks, surged 3.74%. Among the major stocks, Apple is reported to be about to reach an agreement with OpenAI to introduce chatbot ChatGPT technology to the iPhone, and the stock price rose 1.8%; Intel jumped 2.2%, making it the Dow component stock with the biggest increase; Alphabet fell 2.8% and closed up 0.3%. The “meme stock” GameStop revived speculation. The stock price once surged 119%, triggering multiple trade breakdowns, and closed up 74.4%. The reason was that in early 2021, the influencer “RoaringKitty” encouraged retail investors to absorb GameStop in a big way and successfully “hijack short positions” to repel hedge funds, and posted a post on social media X a few days ago, causing outsiders to speculate that he may once again call on retail investors to enter the market. Another “meme stock,” AMC, surged 78.4%. The Asia-Pacific stock market moved individually this morning (14th). The Nikkei 225 Index now reports 38,345 points, up 166 points, or 0.44%. The South Korea Composite Index is currently at 2,724 points, down 2 points, or 0.11%. Investors are optimistic, and the Hang Seng Index continues to test higher levels.

(The author is the Chairman of the Hong Kong Association of Stock Analysts and the author does not hold the above shares)

Market Focus: Tsingtao Brewery Co., Ltd. (00168)

The peak beer season is approaching, demand for beer increases dramatically during the holidays, and the beer industry's performance is expected to continue to improve. Tsingtao Brewery Co., Ltd. (168) had excellent profit performance in the first quarter of 2024. The Group's net profit to mother was 1,597 billion yuan, an increase of 10.06% over the previous year. The reduction in group costs led to an increase in gross margin. Coupled with effective control of sales expenses, the Group's performance increased 10% year over year. During the period, the Group achieved a total sales volume of 2.184 million kiloliters of products, of which the main brand Tsingtao Brewery achieved product sales volume of 1,322 million kiloliters, and sales of high-end products of 960,000 kiloliters. The trend of high-end development in the beer industry is obvious. As a leader in high-end domestic beer, the Group's product structure is continuously optimized, and its stability is strong, which is worth paying attention to.

Target price $70 Stop loss price $56

(The author is the Chairman of the Hong Kong Association of Stock Analysts and the author does not hold the above shares)

Author: Dr. Tang Sheng-hing, Chairman of the Hong Kong Association of Equities Analysts