The Zhitong Finance App learned that on April 16, the Hong Kong Stock Exchange had a net purchase of HK$9.877 billion, of which the Hong Kong Stock Connect (Shanghai) transaction made a net purchase of HK$5.624 billion and the Hong Kong Stock Connect (Shenzhen) transaction made a net purchase of HK$4.253 billion.
The individual stocks that Beishui Net bought the most were Yingfu Fund (02800), Tencent (00700), and CNPC (00857). The most sold individual stock by Beishui Net was the Hong Kong Stock Exchange (00388).
Hong Kong Stock Connect (Shanghai) actively traded stocks
Hong Kong Stock Connect (Shenzhen) actively traded stocks
Yingfu Fund (02800) received a net purchase of HK$2,678 million. According to the news, Zheshang International previously pointed out that from a financial perspective, the US CPI data once again exceeded market expectations, and further correction in interest rate cut expectations and soaring US bond yields put further pressure on the financial environment of the Hong Kong stock market. Guotai Junan pointed out that in a situation where overseas risk events have not been fully resolved and may disrupt the Hong Kong stock market, the high-dividend style with low risk characteristics still has allocation value.
Tencent (00700) received a net purchase of HK$774 million. According to the news, Sensor Tower data shows that “Battle in the Wilderness” developed by Tencent's Supercell studio has had more than 50 million daily active users in the past month, with a peak of over 68.96 million, ranking the third most active mobile game in the world. BOC International said that it is expected that in the second quarter, with the steady operation of old games and confirmed revenue in the first quarter, plus the launch of new games (Dungeons and Warriors), Tencent's game revenue growth rate will improve, and the performance for the whole year will be low and high.
Beishui Capital increased its petroleum stocks, and CNPC (00857) and CNOOC (00883) received net purchases of HK$639 million and HK$351 million respectively. According to the news, CITIC Securities said that looking ahead to 2024Q2 and the second half of the year, we believe that the scale of production cuts is expected to continue, the peak demand season is approaching, and local geographical disturbances will still be frequent. The oil supply center will fluctuate at a high level of 90 US dollars/barrel, and keep a close eye on the direction of oil price fluctuations dominated by geography. Furthermore, Bank of America Securities pointed out that maintaining the “buy” rating of CNPC shares, the target price is HK$9, based on oil price and gas growth supporting stable profits, an attractive valuation of 0.8 times market account ratio, a high dividend of 7%, and the potential surprise of a capital management action plan.
Bank of China (03988) received a net purchase of HK$447 million. According to the news, the Bank of China previously announced that Huijin increased its Bank of China A-share holdings by a total of 330 million shares through the Shanghai Stock Exchange trading system, accounting for about 0.11% of the bank's total share capital. Industry insiders said that as the majority shareholder, it is more strategic for Huijin to increase bank capital and enhance operating capacity; Huijin's increase in holdings helps large banks stabilize stock prices and better achieve a controlling position over state-owned banks. Through such measures, it also sends a signal of stability and boosting market confidence, which is conducive to promoting the healthy development of the capital market.
Beishui continued to increase its telecom stock holdings, with China Telecom (00728) and China Mobile (00941) receiving net purchases of HK$442 million and HK$417 million respectively. According to the news, Damo recently published a report. In the context of state-owned enterprise reform, increasing shareholder returns is a long-term trend. The three major telecom companies will maintain healthy growth this year. Telecom companies, on the other hand, are on track to achieve their goal of saving capital expenses. Their new technology is also getting a lot of attention. According to the report, Komo said that after the announcement of the 2023 fiscal year results, he continues to have a positive view on telecom stocks and is optimistic about the free cash flow that will continue to expand after capital expenditure is cut in the next two to three years.
China Shenhua (01088) received a net purchase of HK$224 million. According to the news, Anxin International released a research report indicating that as we enter the low season, thermal coal prices have weakened, but there have been signs that coal prices have stabilized in the past two days. Overall port inventories are low. Coupled with a sharp drop in coal production in Q1 this year, it is expected that coal imports may decrease in April, so it is not ruled out that coal prices will rebound slightly before summer begins. First Shanghai pointed out that the advantages of the company's integrated industrial operation will continue to be reflected. The sales structure of Gaochang Coal has stabilized profit levels, the superimposed new installed capacity drives a steady increase in power generation to hedge against fluctuations in coal prices. Profit stability is strong, and in the past, it has focused on shareholder returns to maintain a high dividend ratio over the long term. The company's high cash flow and high dividend payout characteristics have long-term investment value.
The Hong Kong Stock Exchange (00388) had another net sale of HK$14.82 million. According to the news, Citi released a research report stating that according to the “sale and sale” rating of the Hong Kong Stock Exchange, profit due for the first quarter of fiscal year 2024 is expected to rise 8% quarterly and fall 18% year on year, and total revenue will drop 10% year on year, mainly due to factors such as weak average daily turnover (ADT) and a slowdown in investment income. In addition, the earnings forecast per share for the 2024 and 2025 fiscal years was lowered by 1%, mainly affected by increased operating expenses. The target price was lowered from HK$233 to HK$215.
Additionally, Xiaomi Group-W (01810) and Xiaopeng Motor-W (09868) received net purchases of HK$270 million and HK$16.79 million respectively.