The Zhitong Finance App learned that on May 21, the Hong Kong Stock Exchange had a net purchase of HK$473 million, of which Hong Kong Stock Connect (Shanghai) had a net purchase of HK$781 million, and the Hong Kong Stock Connect (Shenzhen) transaction had a net sale of HK$308 million.
The individual stocks that Beishui Net bought the most were Bank of China (03988), Ideal Automobile-W (02015), and China Construction Bank (00939). The individual stocks sold the most by Beishui Net were Yingfu Fund (02800), Tencent (00700), and the Hong Kong Stock Exchange (00388).
Hong Kong Stock Connect (Shanghai) actively traded stocks
Hong Kong Stock Connect (Shenzhen) actively traded stocks
Beishui Capital continued to increase its domestic bank holdings. Bank of China (03988) and China Construction Bank (00939) received net purchases of HK$1.14 billion and HK$286 million respectively. According to the news, Minsheng Securities pointed out that bank AH share premiums are still at historically high levels. On the one hand, premiums are expected to subside with improved tax policy expectations and financial support. On the other hand, the discount on H shares also brings dividend advantages. At the same time, it is also necessary to consider the relative disadvantages of liquidity and settlement efficiency in the H share market. The bank pointed out that under the high premium for AH shares, the dividend ratio of bank H shares is still relatively high after tax deduction; if subsequent tax reduction policies are implemented, the dividend advantage of bank H shares will expand further.
Ideal Automobile-W (02015) plummeted by nearly 20% today. Beishui's capital attracted funds due to dips, with a net purchase of HK$679 million throughout the day. According to the news, Ideal Auto announced its first-quarter results. Total revenue for the period was 25.6 billion yuan, up 36.4% year on year, down 38.6% month on month; net profit to mother was 593 million yuan, down 36.26% year on year, down nearly 90% month on month. The company expects revenue of 29.9 billion yuan to 31.4 billion yuan for the second quarter, which is lower than the market estimate of 38.63 billion yuan. Furthermore, Ideal Auto has postponed its pure electric SUV products and continues to adjust its organizational structure. The company recently reported major layoffs.
China Mobile (00941) received a net purchase of HK$223 million. According to the news, J.P. Morgan Chase previously stated that if the policy relating to exempting Hong Kong Stock Connect dividend profits tax is implemented, it is expected that more capital will flow into Chinese telecommunications stocks listed in Hong Kong because the dividend return of such shares is relatively high, with a dividend rate of about 8%, and the compound annual growth rate of dividends per share exceeds 10%, which is very attractive, maintaining a “gain” rating for China Telecom stocks. The bank pointed out that it is optimistic about Unicom in the short term and will choose China Mobile in the long term.
Vanke Enterprise (02202) received a net purchase of HK$41.31 million. According to the news, Vanke Enterprise announced that in order to meet the development and construction of the Changzhou project, it has applied for a 1.2 billion yuan bank loan from the Shenzhen branch of the Bank of China, while its holding subsidiary Changzhou Xucheng uses 100% of its shares in Changzhou Shengxin Real Estate to provide an equity pledge guarantee for this loan. CITIC Securities said that at this stage, the business is more focused on core cities, with smooth financing channels, strong product capabilities, strong local cultivation and interaction capabilities, and companies that have some high-quality assets to help absorb phased losses from storage are more valuable for investment.
The Hong Kong Stock Exchange (00388) had a net sale of HK$262 million. According to the news, there are recent reports that Hong Kong will postpone the new trading regulations during the typhoon and are initially considering formal implementation at the end of this year or the beginning of next year. On May 21, the Chief Executive of the Hong Kong Special Administrative Region, Li Jiachao, said during a meeting with the media that the results of the consultation on the operation of the Hong Kong Stock Exchange under extreme weather conditions will be announced in July. He stressed that the government will announce the results in July, but if not in July, they will be implemented.
Yingfu Fund (02800) had a net sale of HK$1,845 million. According to the news, Guoyuan International pointed out that the current valuation of Hong Kong stocks is relatively low among the world's major asset classes, and the inflation data in line with expectations increases the possibility that the Federal Reserve will cut interest rates during the year. In this regard, Hong Kong stocks have the conditions for valuation repair in the medium term. This condition will exist until the external environment of the market changes significantly. Combined with the recent rise in sentiment brought about by favorable domestic real estate policies, the bank believes there is room for further upward movement in Hong Kong stocks in the short term. However, since economic fundamentals are still relatively weak, and implementation of favorable policies requires more economic data to confirm.
Additionally, Beijing Finance International (01468) received a net purchase of HK$73.93 million. Meanwhile, CNOOC (00883) and Tencent (00700) were net sold at HK$46.58 million and HK$832 million respectively.