北水动向|北水成交净买入34.71亿 高股息央国企继续受追捧 内资抢筹中海油(00883)超9亿

Beishui Trends | With a net purchase of 3.471 billion yuan, central state-owned enterprises continue to be sought after domestic capital to raise CNOOC (00883) over 900 million

Zhitong Finance ·  Feb 20 04:43

The Zhitong Finance App learned that on February 20, the Hong Kong Stock Exchange had a net purchase of HK$3.471 billion, of which Hong Kong Stock Connect (Shanghai) had a net purchase of HK$2.98 billion and the Hong Kong Stock Connect (Shenzhen) transaction made a net purchase of HK$492 million.

CNOOC (00883), China Mobile (00941), and China Construction Bank (00939) purchased the most from Beishui Net. The individual stocks sold the most by Beishui Net were Tencent (00700), SMIC (00981), and Sinopec (00386).

Hong Kong Stock Connect (Shanghai) actively traded stocks

Hong Kong Stock Connect (Shenzhen) actively traded stocks

Oil stocks have diverged. CNOOC (00883) received a net purchase of HK$915 million, while Sinopec (00386) received a net sale of HK$80.72 million. According to the news, UBS issued a report saying that the average price of Brent oil futures rose 3.3% weekly to 82.5 US dollars per barrel last week, mainly driven by geopolitical factors, including heightened tension in the Middle East and the ongoing Russian-Ukrainian conflict. With geopolitical factors boosting oil prices, it is believed that three barrels of oil, namely CNPC, Sinopec, and CNOOC, will benefit. CICC, on the other hand, pointed out that oil may still be a major asset with good fundamentals this year.

Beishui Capital continues to increase its holdings in telecom stocks. China Mobile (00941) and China Telecom (00728) received net purchases of HK$523 million and HK$254 million respectively. According to the news, Qunyi Securities pointed out that the State Assets Administration Commission is further promoting requirements related to market value management, and China Mobile, as the leading operator and central enterprise, may benefit. The bank believes that as a leading domestic operator, Mobile is expected to use the advantages of operators to further lay out the computing power industry chain and enter the AI service business, providing new growth space for future digital transformation. Zhongyuan Securities pointed out that in 2024, the State Assets Administration Commission will fully implement market value management assessments for listed companies of central enterprises, and operators have high dividend allocation value.

Domestic bank stocks are also highly sought after. CCB (00939) and Bank of China (03988) received net purchases of HK$281 million and HK$195 million respectively. According to the news, the market quoted interest rate (LPR) for loans with a term of 5 years or more was 3.95% in February, compared to 4.2% last month; 1-year LPR was 3.45%, compared to 3.45% last month. Morgan Stanley published a report saying that the five-year LPR rate reduction of the People's Bank of China was the biggest in history, and far exceeded market expectations. The one-year LPR remained unchanged, which was slightly beyond expectations. Liao Zhiming, chief banking analyst at China Merchants Securities, said that current bank sector valuations and institutional holdings ratios are at historically low levels. Steady growth is increasing. The economy may stabilize in the future, and banking sector valuations are expected to recover moderately.

Beishui Capital increased its coal stocks, and Yankuang Energy (01171) and China Shenhua (01088) received net purchases of HK$90.25 million and HK$25.46 million respectively. According to the news, Northeast Securities pointed out that coal prices fell slightly in 2023, and the coal sector had the highest increase. The 2024 cycle bottomed out and rebounded, looking forward to a new boom cycle. The rapid economic development of India and Southeast Asia is expected to drive an increase in overseas coal demand; in 24, the domestic coal supply and demand gap was 1-150 million tons, and coal prices are expected to strengthen. The bank pointed out that currently the PE valuation of most coal stocks is 5-8 times lower, and the dividend rate for some high-quality coal stocks has reached 60%-70%. It is expected that PE for coal stocks will rise 10 times.

Auto stocks are also now divided. Ideal Automobile-W (02015) received a net purchase of HK$83.55 million, while Xiaopeng Motor-W (09868) had a net sale of HK$5.07 million. According to the news, BYD announced the official launch of the Qin PLUS Honor Edition under Dynasty Network, with an official guide price starting at 79,800 yuan. Meanwhile, car companies such as Wuling, Changan, Nezha, Beijing Hyundai, and SAIC-GM joined the price war and collectively announced major price cuts for various models. Ping An Securities previously determined that leading NEV companies have been pressured by their 24-year growth rate, and the price war dominated by leading NEV companies will continue.

Additionally, Meituan-W (03690) received a net purchase of HK$30.25 million. Meanwhile, SMIC (00981) and Tencent (00700) had net sales of HK$81.08 million and HK$204 million respectively.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment