Home » A quick look at the Hong Kong market | The Hang Seng Index fell nearly 4%, technology stocks, semiconductors, and Apple concept stocks were among the top losers, and pharmaceutical stocks rose in late trading_Adjust_Travel_Market Sentiment

A quick look at the Hong Kong market | The Hang Seng Index fell nearly 4%, technology stocks, semiconductors, and Apple concept stocks were among the top losers, and pharmaceutical stocks rose in late trading_Adjust_Travel_Market Sentiment

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A quick look at the Hong Kong market | The Hang Seng Index fell nearly 4%, technology stocks, semiconductors, and Apple concept stocks were among the top losers, and pharmaceutical stocks rose in late trading_Adjust_Travel_Market Sentiment

Original title: Quick View of Hong Kong Market | The Hang Seng Index fell nearly 4%, technology stocks, semiconductor stocks, and Apple concept stocks were among the top losers, and pharmaceutical stocks rose in late trading

Futu Information, October 10 | Hong Kong stocks maintained a downward trend throughout the day, and market sentiment was sluggish. The Hang Seng Index fell 2.95% and fell more than 500 points, and the Hang Seng Technology Index fell 3.98% to a low of 3382.9 points and refreshed the low price again.

plate,The collective decline of weighted technology stocks dragged down the market. Meituan fell 6.7%, Alibaba, Kuaishou, and JD.com all fell by more than 3%, and NetEase, Baidu, and Tencent fell by more than 2%.

Several major chip manufacturers lowered their performance guidance, semiconductor stocks and chip stocks fell sharply across the board, Shanghai Fudan tumbled nearly 20%, and Hua Hong Semiconductor fell together.

Sales of the new iPhone 14 are cold, and Apple concept stocks continue to decline.

National Day tourism consumption was sluggish, and online travel and catering stocks fell significantly.

Gaming stocks, airline stocks, biotechnology stocks, auto stocks, and home appliance stocks fell one after another.

On the other hand, pharmaceutical stocks rose in late trading. The new stock Amy Vaccine rose by more than 43%. Most of the Chinese securities companies rose. Shenwan Hongyuan and Guolian Securities rose by more than 3%.

For individual stocks,With a rebound of nearly 11%, Daiwa said its valuation was reasonable and upgraded its rating to “hold”.

Up nearly 3%, the National Development and Reform Commission said that it will release the fifth batch of central pork reserves, and the agency said that the price of pigs is expected to gradually rise.

Up more than 4%, the National Day movie box office revenue is about 1.5 billion yuan, and the agency points out that the film market is about to pick up.

Up more than 1%, contracted property sales in September were 22.826 billion yuan, up 12.0% year-on-year.

It fell nearly 9% to lead the decline in sporting goods stocks. The agency expects that the industry promotion environment may continue to the end of the year.

It fell nearly 11%. On the news, Musk said that Apple will be in a very deep trouble. Due to the impact of supply chain blows, raging inflation and political factors, Apple’s new iPhone 14 sales this year are not smooth.

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Today’s top 20 Hong Kong stocks turnover

message side

  • National Development and Reform Commission: Domestic refined oil prices will not be adjusted on October 10, 2022

National Development and Reform Commission: Since the adjustment of domestic refined oil prices on September 21, 2022, the oil price in the international market has fluctuated. According to the current domestic refined oil price mechanism, the average price of the first 10 working days on October 10 is the same as the 10 before September 21. Compared with the average price of the working day, the price adjustment amount is less than 50 yuan per ton. According to Article 7 of the “Petroleum Price Management Measures”, the gasoline and diesel prices will not be adjusted this time, and the unadjusted amount will be accumulated or offset in the next price adjustment.

  • The entry rules for insurance companies have been clarified, and the personal pension market is ready to go

Recently, the China Banking and Insurance Regulatory Commission is soliciting opinions on a small scale in the industry on the “Notice on Matters Related to Promoting Insurance Companies’ Participation in the Individual Pension System (Draft for Comment)”. So far, the supporting rules for public funds and insurance companies to participate in the personal pension system have surfaced. However, the details of how banking institutions can connect to the personal pension system through financial products such as bank wealth management and savings deposits are still to be released. Industry experts said that with the implementation of the detailed rules for participation of various financial institutions, a personal pension market with safe operation, standardized targets, focusing on long-term value preservation, and satisfying the preferences of different investors will emerge soon, which will more effectively meet the needs of the Chinese people. retirement savings needs.

  • The adjustment of the classification of trust business has been implemented, and some companies have begun to fill in the report

A few days ago, a trust company has received a notice from the regulatory authorities on matters related to the adjustment of the trust business classification of a trust company, and has started to make a trial report. Relevant sources revealed that the regulatory authorities issued this notice after extensive consultation in the early stage, which means that the classification adjustment of trust business has begun to be implemented. This Notice encourages trust companies to develop asset management trust businesses in a standardized manner, and actively explore asset service trusts and public welfare/charitable trust businesses. This notice sets a five-year transition period so that the trust company can carry out the rectification of existing business in an orderly manner. Relevant persons said that compared with the consultation draft, under the wealth management entrusted service trust under the asset service trust, a new family service trust is established with an initial property amount of not less than 1 million yuan and a period of not less than 5 years.

  • IDC: Global PC shipments totaled 74.2 million units in the third quarter, down 15% year-on-year
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According to preliminary results tracked by IDC, in the third quarter of 2022, global PC shipments totaled 74.2 million units, and the traditional PC market continued to decline. Cooling demand and supply imbalances contributed to a 15.0% year-on-year contraction. However, due to the imminent end of support for Windows 7, current PC shipments are largely driven by commercial updates, and shipments are still well above pre-pandemic levels.

Institutional view

  • Citi: Macau e-Visa and group tours to resume in late October or early November

According to a research report by Citi, according to the Macau Tourism Office, the number of tourists visiting Macau increased from 9,021 last year to 182,100 during the Golden Week holiday this year, which is equivalent to about 19% of the level in 2019. 90% and returned to 21% of pre-pandemic levels. The bank expects that when Macau e-visa and group travel resume at the end of October or early November, the number of tourists visiting Macau may increase, and the total gaming revenue will be higher; the bank said that according to the above trends, the total gaming revenue in October The pace of recovery should be a good sign. The bank is now cautiously maintaining its forecast for Macau’s total gaming revenue for October at 7 billion patacas.

  • Credit Suisse: Maintain $Tencent Holdings (00700.HK)$ Outperform rating, target price raised to HK$441

Credit Suisse published a research report pointing out that Tencent’s WeChat, which launched in-stream advertisements on video accounts in mid-July, is the most obvious growth driver for Tencent in the short term. Domain traffic cultivation is different from its peers, and has greater exposure to lower-tier cities. Credit Suisse expects video account advertising revenue to reach RMB 7 billion and RMB 14 billion in 2023 and 2024, affecting earnings by 3% to 5%. The bank raised Tencent’s earnings per share forecast for fiscal years 2023 to 2024 by 1% to 2%, and the target price was raised from HK$437 to HK$441. It is still optimistic about the company’s assets to be realized and user base. Excluding investment, Tencent’s current share price is equivalent to 13 times the price-earnings ratio of fiscal year 2022, which is undervalued and maintains the “outperform” rating.

  • Nomura: Maintain a Buy rating on WuXi Biologics (02269.HK), the top choice for the industry
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Nomura’s research report stated that the subsidiary of WuXi Biologics has been removed from the unverified list by the United States. The bank believes that the removal of the company’s subsidiary from the list may bring a great degree of relief to the company. Another subsidiary, Shanghai WuXi Biologics, brought positive factors. The bank said that investors are currently cautious about the CXO (pharmaceutical outsourcing) industry, and this news will benefit WuXi Biologics and the entire industry. The bank is optimistic about the group’s long-term sustainable growth and leading position in China’s biopharmaceutical development and manufacturing (CDMO) market, giving the group the industry’s first choice, maintaining its buy rating and target price of HK$97.78.

  • HSBC Research: Initiate Buy ratings on $Ganfeng Lithium (01772.HK)$, $Tianqi Lithium (09696.HK)$

HSBC believes that the lithium market has been very tight since last year due to growing demand for electric vehicle batteries, and it is estimated that lithium supply will remain in short supply until 2024, and prices will start to correct in the same year, and any supply disruption or project delays may make the market again. Stuck in a shortage situation, lithium prices are expected to remain high next year. The bank’s sensitivity analysis predicts that for every 1% increase in lithium prices, Ganfeng Lithium and Tianqi Lithium’s profits will also increase by 1% next year.


Risk warning: The opinions of the authors or guests shown above have their own specific positions, and investment decisions need to be based on independent thinking. Futu will endeavour but cannot guarantee the accuracy and reliability of the above content, and will not be liable for any loss or damage arising from any inaccuracies or omissions.Return to Sohu, see more

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