On April 26, in the Hong Kong stock market, Beishui had a net purchase of HK$1,174 million, of which Hong Kong Stock Connect (Shanghai) had a net purchase of HK$108 million and Hong Kong Stock Connect (Shenzhen) had a net purchase of HK$1,065 million.
The Zhitong Finance App learned that on April 26, the Hong Kong Stock Exchange had a net purchase of HK$1,174 million, of which Hong Kong Stock Connect (Shanghai) had a net purchase of HK$108 million and the Hong Kong Stock Connect (Shenzhen) transaction made a net purchase of HK$1,065 million.
The individual stocks that Beishui Net bought the most were Bank of China (03988), Kuaishou-W (01024), and the Hong Kong Stock Exchange (00388). The individual stocks sold the most by Beishui Net were HSBC Holdings (00005), Yingfu Fund (02800), and CNOOC (00883).
Hong Kong Stock Connect (Shanghai) actively traded stocks
Hong Kong Stock Connect (Shenzhen) actively traded stocks
Bank of China (03988) received a net purchase of HK$888 million. According to the news, Haitong Securities said that looking ahead to future banking performance, with the introduction of subsequent policies to stabilize the economy, the subsequent bank's revenue growth rate is expected to gradually stabilize, profit growth is expected to remain high, the non-performing rate will remain low, and provision coverage will remain high. CITIC Securities pointed out that based on the pace of economic recovery and macrofinancial performance, it is expected that the short-term market style will still favor dividend strategies, and banking sector holdings are expected to continue to recover.
Kuaishou-W (01024) received a net purchase of HK$500 million. According to the news, Jefferies published a research report stating that Kuaishou's revenue in the first quarter is still expected to rise 15% year over year to 29 billion yuan, and non-IFRS (non-IFRS) profits will reach 3.1 billion yuan. Everbright Securities, on the other hand, pointed out that live e-commerce still has dividends. Under its impetus, internal circular advertising and e-commerce businesses are expected to maintain relatively rapid growth in 24Q1. The company has already entered the profit release period. Under the optimization of platform governance, organizational structure, and investment strategies, user acquisition and retention efficiency continues to improve, human efficiency continues to be optimized, and the adjusted net profit margin is expected to continue to improve in the next quarter.
The Hong Kong Stock Exchange (00388) received a net purchase of HK$116 million. According to the news, the Hong Kong Stock Exchange held an annual shareholders' meeting to announce that Tang Jiacheng will succeed Smith as the new chairman of the Hong Kong Stock Exchange. Furthermore, the Hong Kong Stock Exchange's net profit for the first quarter was HK$2.97 billion, down 12.9% year on year and up 14% month on month. Shen Wan Hongyuan said that the China Securities Regulatory Commission issued the “5 Capital Market Cooperation Measures with Hong Kong”, which is conducive to further broadening the interconnection mechanism and promoting the collaborative development of capital markets between the two places. We look forward to a steady recovery in the Mainland economy and a boost in liquidity in the Hong Kong stock market driven by favorable policies.
Ideal Automobile-W (02015) had a net sale of HK$36.78 million. According to the news, Ideal Auto recently announced a price reduction. In addition to the newly launched Ideal L6, its 2024 Ideal L7, L8, L9 and MEGA have adopted a new price system. Compared with the previous one, the price reduction for the 4 models is 18,000 to 30,000 yuan. In terms of sales volume, in the first quarter of this year, the sales growth rate of Ideal Auto declined year-on-year. Ideal Auto delivered a total of 80,400 new vehicles during the period, an increase of 52.9% over the same period last year, but the growth rate for the same period last year was 65.8%.
CNOOC (00883) hit a record high after its performance. Some of Beishui's capital was sold at high prices, with a net sale of HK$167 million throughout the day. According to the news, CNOOC announced its results for the first quarter of 2024. The group achieved operating income of 111,468 billion yuan during the period, an increase of 14.1% over the previous year; net profit to mother was 39.719 billion yuan, an increase of 23.7% over the previous year. CICC said that the first quarter results exceeded market expectations, mainly due to production growth and crude oil prices exceeding expectations. The bank anticipates that the company's annual production may exceed the upper limit of 720 million barrels of oil equivalent in the 2024 guidelines.
Yingfu Fund (02800) had a net sale of HK$243 million. According to the news, CITIC Construction Investment released a research report saying that the biggest suppression of Hong Kong stocks in the second half of last year was the systematic outflow of foreign capital to Japan. Recently, the focus of foreign capital allocation in the Asia-Pacific region has changed again from Japan to Hong Kong stocks, and the liquidity of Hong Kong stocks has improved dramatically. Furthermore, the recent sharp increase in southbound capital has further consolidated the upward trend in Hong Kong stocks. Some institutions also said that the current round of the Hong Kong stock market has little to do with fundamentals. The recovery in risk appetite has brought about improvements at the capital level, which directly supports the rise in Hong Kong stocks.
HSBC Holdings (00005) had a net sale of HK$344 million. According to the news, HSBC Holdings will announce its results for the first quarter of this year next Tuesday (30th). The market generally believes that the decline in Hong Kong's HIBOR (HIBOR) has dragged down the slow growth of interest spreads and loans, but it is expected that strong wealth management revenue will offset some of the impact. Goldman Sachs predicts that the profit before tax in the first quarter of this year will drop 0.8% year-on-year to US$12.784 billion; J.P. Morgan predicts that the profit before tax in the first quarter of FOC will drop 5% year-on-year to US$12.247 billion.
In addition, Yankuang Energy (01171) received a net purchase of HK$29.86 million. Meanwhile, China Mobile (00941) and Tencent (00700) were net sold at HK$46.31 million and HK$17.06 million respectively.