On May 9, in the Hong Kong stock market, Beishui had a net sale of HK$4.17 billion, of which Hong Kong Stock Connect (Shanghai) had net sales of HK$3,722 million and Hong Kong Stock Connect (Shenzhen) had a net sale of HK$448 million.
The Zhitong Finance App learned that on May 9, the Hong Kong Stock Exchange had a net sale of HK$4.17 billion, of which the Hong Kong Stock Connect (Shanghai) transaction had a net sale of HK$3,722 billion and the Hong Kong Stock Connect (Shenzhen) transaction had a net sale of HK$448 million.
The individual stocks that Beishui Net bought the most were China Mobile (00941), Industrial and Commercial Bank (01398), and China Construction Bank (00939). The individual stocks sold the most by Beishui Net were Yingfu Fund (02800), HSBC Holdings (00005), and Ideal Automobile-W (02015).
Hong Kong Stock Connect (Shanghai) actively traded stocks
Hong Kong Stock Connect (Shenzhen) actively traded stocks
China Mobile (00941) received a net purchase of HK$247 million. According to the news, Morgan Stanley previously indicated that China Mobile's first-quarter service revenue increased 4.5% year-on-year, which is basically in line with the bank's expectations. EBITDA fell 2.3% year-on-year, which is 3% lower than the bank's expectations. However, net profit increased 5.5% year-on-year, roughly in line with expectations, as weak EBITDA was offset by a reduction in depreciation and amortization (D&A) expenses. The bank maintains an “gain” rating on China Mobile, with a target price of HK$80.
Domestic bank stocks were increased by Beishui capital, and ICBC (01398) and China Construction Bank (00939) received net purchases of HK$149 million and HK$53.56 million respectively. According to the news, Bank of China International released a research report saying that it maintains an “increase in holdings” rating for the domestic banking sector, believing that the industry's profits increased slightly throughout the year, and that the scale of the main benefits expanded and asset quality remained stable, while the extent to which net interest spreads narrowed in the next three quarters would slow down. Guoxin Securities pointed out that if LPR does not drop sharply in the future, then for most listed banks, the results for the first quarter of 2024 may be the bottom area of recent years. In the future, as macroeconomic recovery improves, it is expected that valuation repair in the banking sector will be promoted.
Sunac China (01918) had a net sale of HK$35.22 million. According to the news, within a day, Hangzhou City and Xi'an City both announced the complete lifting of housing purchase restrictions. Guoxin Securities pointed out that in the short term, whether the rise in the real estate sector can continue depends on the strength of policies introduced over the next period of time. The bank adheres to the judgment that the property market has not bottomed out. Although it is too early for real estate stocks to talk about the margin of safety, and fundamentals do not support value, the value of the policy game is prominent.
Ideal Automobile-W (02015) had a net sale of HK$136 million. According to the news, Bank of America Securities published a report stating that Ideal Auto's first battery electric vehicle, the Mega, was not widely accepted by the market, and it is expected that monthly orders will only maintain 1,500 to 2,000 units. The bank's channel survey shows that it is ideal to launch only one or two battery electric vehicles in the second half of the year to ensure product popularity. Fewer than the bank's original estimate of the three models will be launched. The bank currently predicts that it is ideal to launch two battery electric vehicles in the second half of the year, and the launch time will be a little later than the bank's original forecast. Based on sales for the first quarter and the latest car sales plan, the bank lowered the ideal car sales forecast for this year to 2026 between 7% and 17%.
HSBC Holdings (00005) had a net sale of HK$909 million. According to the news, HSBC Holdings announced the relevant voting results of the annual shareholders' meeting. Some sources revealed that Qi Yao-nian's proposed appointment of directors met with 16% opposition. Since the number of votes against Qi Yao-nian's re-election as a director was similar to China Ping An's shareholding, some market sources indicated that Ping An of China opposed re-appointing Qi Yaonian as a member of the board of directors at this year's HSBC shareholders' meeting. A person related to Ping An of China responded: “There is no information in this regard.”
Yingfu Fund (02800) had a net sale of HK$4.699 billion. According to the news, Zhongtai Securities previously pointed out that from a short-term perspective, Hang Seng Technology, represented by the Hong Kong Stock Internet, has been more flexible in the past two weeks. However, we still recommend treating the current round of Hong Kong stock internet rise represented by Hang Seng Technology and the recent large inflow of capital from the North.
Additionally, Xiaomi Group-W (01810) received a net purchase of HK$32.77 million. Meanwhile, CNOOC (00883) had a net sale of HK$99.77 million.