Jinwu Financial News | Hong Kong stocks fluctuated slightly. As of the midday close, the Hang Seng Index fell 0.05%, the State-owned Enterprises Index fell 0.26%, and the Hang Seng Technology Index fell 0.03%.
Chow Tai ?$#@$ (01929) fell 5.26%, Li Ning (02331) fell 5.01%, Country Garden Services (06098) fell 3.62%, and China Overseas Development (00688) fell 3.34%. In terms of growth, Xinyi Glass (00868) rose 10.27%, Ideal Auto (02015) rose 6.49%, Pharmaceutical Biotech (02269) rose 5.44%, and Chuangke Industrial (00669) rose 4.73%.
Domestic housing stocks declined. Zhongliang Holdings (02772) fell 5.99%, Shimao Group (00813) fell 5.45%, China Overseas Hongyang Group (00081) fell 5.29%, Agile Group (03383) fell 4.76%, Midea Real Estate (03990) fell 4.46%, and Sunac China (01918) fell 4.32%. Despite ongoing real estate stimulus policies in various regions, the property market continues to be sluggish, and sales of the top 100 housing enterprises are under pressure. According to data released by market agency Kerui on the evening of April 30, the top 100 real estate companies achieved trading sales of 312.17 billion yuan in the same month, down 12.9% from the previous month and a sharp drop of 44.9% from the previous month. The monthly performance remained at a historically low level.
Highway and railway transportation stocks rose. Guangzhou-Shenzhen Railway shares (00525) rose 8.61%, the Anhui-Wantong Expressway (00995) rose 4.7%, and the Jiangsu-Ninghu Expressway (00177) rose 4.31%. According to the news, the Ministry of Commerce of various provinces and cities has successively released May Day consumption data. Structurally, residents' travel and consumption choices are becoming more diverse, and demand for going out remains strong. Among them, low-tier markets, entry/exit, and long-term travel are popular. Furthermore, the country's consumer promotion policies such as trade-in have shown results, stimulated market vitality, and continued to pay attention to the recovery in consumption.
Fuzhikang Group (02038) rose 5.95% in half a day. According to the results announcement, losses for the first quarter of this year narrowed to US$20.407 million, compared to US$52.315 million in the same period last year. During the period, operating income and other operating income fell 21.7% year-on-year to US$998 million.
KEEP (03650) fell 8.68%. According to documents disclosed by the Hong Kong Stock Exchange on May 3, Tencent Holdings Limited sold 6.141,000 common shares of KEEP at an average price of HK$8.8638 per share on May 2, worth approximately HK$54.426 million. After the sale, Tencent Holdings Limited's latest shareholding was 22.4965 million shares, and the good position ratio dropped from 5.45% to 4.28%.
Ye Shangzhi, chief strategist at Shanghai No. 1, said that the Hang Seng Index has reached its highest target of 18,290 points in the fourth quarter of last year. If capital inflows are not changed, it is not ruled out that there is still room to test higher. However, judging from the two main scenarios (high interest rate environment and mainland recovery process) that began in the second half of last year without much change, even if the Hang Seng Index rises further, it will be quite difficult. In other words, the Hang Seng Index has begun to enter a phased high position level.