Yesterday, Hong Kong stocks further expanded their gains, and the Hang Seng Index closed up 2.46% to 25,727.92 points. The Hang Seng Technology Index surged 7.06%. Among the constituent stocks, Kuaishou rose 15.11%, JD.com rose 14.94%, Meituan rose 13.51%, and Tencent rose 8.81%. Among them, JD.com’s surge stemmed from its substantial increase in revenue in the second quarter.
Yesterday, Jingdong Hong Kong stocks closed at 280 Hong Kong dollars, covering the decline in the previous two weeks. JD.com disclosed its second-quarter results on the evening of August 23. The company’s revenue for the quarter was 253.8 billion yuan, an increase of 26.2% year-on-year. Daiwa Securities Research Report believes that JD is still one of the preferred targets in the e-commerce industry and reiterated its “buy” rating. Nomura Securities said that Jingdong’s performance in the second quarter was solid, with revenue and profit indicators higher than market expectations. However, both institutions lowered JD’s target price because of higher-than-expected losses in JD’s new business.
Xiaomi rose 3.7% yesterday to close at 25.25 Hong Kong dollars. Xiaomi will release its interim performance report on August 25. Bloomberg predicts that Xiaomi’s second-quarter revenue will increase by 57.2% year-on-year to 84.144 billion yuan; adjusted net profit will be 5.424 billion yuan, a year-on-year increase of 60.8%. CICC predicts that Xiaomi’s revenue in the second quarter will reach 85.9 billion yuan, an increase of 60.5% year-on-year, and its adjusted net profit is expected to increase by 66% year-on-year to 5.6 billion yuan.
In addition, since the announcement of the repurchase, Tencent has risen for 3 consecutive days, and it has soared by nearly 9% yesterday. It has risen by more than 10% in the first two trading days of this week. Yesterday, Tencent’s net inflow of funds exceeded 4 billion Hong Kong dollars. Since this month, the cumulative net inflow of Tencent’s funds has reached 22.727 billion Hong Kong dollars.
Haitong International believes that strengthening supervision is conducive to the long-term, healthy and stable development of the Internet industry, and outstanding Internet technology companies listed overseas still have high investment value. Wei Wei, a senior strategist at China Asset Management, said that the attractiveness of Hong Kong stocks is gradually increasing. The core logic is that Hong Kong stocks are shifting from being “driven by low valuation” to being driven by technology.Return to Sohu to see more
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