2024-09-02
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cailianshe news, september 2 (editor: hu jiarong)the three major hong kong stocks collectively adjusted today and did not continue the upward trend of last friday. as of the close, the hang seng index fell 1.65% to 17,691.97 points; the technology index fell 2.08% to 3,486.40 points; and the state-owned enterprise index fell 1.89% to 6,211.61 points.
institutions are optimistic about the short-term rebound of hong kong stocks
as cicc pointed out in its report last friday, many technical indicators of hong kong stocks have been significantly repaired. the hang seng index risk premium fell to 8.6%, the lowest since late july, and the proportion of short selling fell back to 16%.
the brokerage firm believes that the market may have periodic opportunities under short-term interest rate cut transactions and policy expectations, but in the medium and long term, the key to determining the trend of the chinese market, including hong kong stocks, still lies in whether domestic policies can make greater progress.
today's market
judging from the performance of individual stocks, most stocks such as automobiles, real estate, and gold fell, while a few stocks such as coal and gas strengthened.
most auto stocks fell, with great wall motor leading the decline
among auto stocks, gac group (02238.hk), great wall motor (02333.hk), and nio-sw (09866.hk) fell 5.62%, 4.99%, and 4.91%, respectively.
in terms of news, in the latest sales data released, great wall motor's performance was not satisfactory. its sales last month were 94,461 vehicles, a year-on-year decline of 17.21%.
nio disclosed its august delivery numbers, delivering a total of 20,176 vehicles, a 4.4% increase compared to the same period last year but a slight 1.6% decrease compared to july.
sino-ocean group fell more than 14% as real estate trend came under pressure
among real estate stocks, china overseas land & investment (03377.hk), china development international holdings (01908.hk), and cifi holdings group (00884.hk) fell 14.55%, 6.97%, and 6.04%, respectively.
in terms of news, according to china index academy, in the first eight months of this year, the total sales of the top 100 real estate companies was 2683.24 billion yuan, a year-on-year decrease of 38.5%, and the decline continued to narrow by 1.6 percentage points from the previous month. in august alone, the sales of the top 100 real estate companies decreased by 22.1% year-on-year and 2.43% month-on-month.
according to cric statistics, in august, the top 100 real estate developers achieved sales of 251.2 billion yuan, a decrease of 10% month-on-month, and the monthly performance scale continued to remain at a historically low level.
gold stocks mostly weakened, china gold international fell nearly 8%
among gold stocks, china gold international (02099.hk), tongguan gold (00340.hk) and lingbao gold (03330.hk) fell 7.87%, 5.56% and 3.04% respectively.
in terms of news, relevant reports pointed out that gold has fallen every september since 2017. during this period, the average decline in september was 3.2%, which was the worst performing month of the year, far lower than the average monthly increase of 1%. affected by this news, gold stocks were under pressure.
coal stocks mostly strengthened, with china qinfa rising more than 10%
among coal stocks, china qinfa (00866.hk), yancoal australia (03668.hk) and china coal energy (01898.hk) rose 10.53%, 3.33% and 2.15% respectively.
in terms of news, some coal stocks were under pressure in the morning due to the impact of mid-term results. for example, the first-half results released by china shenhua showed that the net profit attributable to the company's shareholders was 32.771 billion yuan, a decrease of 11.1% from the same period last year. this news caused its stock price to fall by more than 5% during trading, and then the decline narrowed.
in this regard, kaiyuan securities' analysis pointed out that it is expected that the dividend ratio and frequency of the coal industry will continue to increase in the future, which will make the coal sector, with its high dividends and high dividends, a more attractive investment option.
some gas stocks strengthened, with china resources gas rising nearly 8%
among gas stocks, china resources gas (01193.hk), kunlun energy (00135.hk) and zhongyu energy (03633.hk) rose 7.79%, 0.77% and 0.65% respectively.
in terms of news, china resources gas ranked first in terms of growth. the company announced its half-year results as of june 30, 2024, showing that its turnover reached hk$52.076 billion, an increase of 7.7% over the same period last year; while the profit attributable to shareholders was hk$3.457 billion, a decrease of 2.5% over the same period last year.
after the announcement of the interim results, citibank gave a positive evaluation of china resources gas's shares, raising its target price to hk$32.5 and maintaining a "buy" rating.
southbound funds
today, southbound funds inflow exceeded hk$10 billion. since the beginning of this year, the cumulative inflow has reached hk$441 billion.
individual stock movement
【new world development fell nearly 13% and the agency downgraded the rating to sell】
new world development (00017.hk) fell 12.99% to close at hk$6.83. in terms of news, the company expects that the core operating profit of continuing operations in fiscal year 2024 may fall by 18%-23% to hk$6.5-6.9 billion. subsequently, uob kay hian downgraded the company's rating to sell with a target price of hk$7.02.
[hisense home appliances once rose nearly 4% during the trading session, and its net profit in the first half of the year increased by more than 30% year-on-year]
hisense home appliances (00921.hk) rose 2.23%, and once rose nearly 4% during the session. in terms of news, the company's revenue in the first half of the year was 48.642 billion yuan, an increase of 13.27% year-on-year; net profit was 2.016 billion yuan, an increase of 34.61% year-on-year. cicc pointed out that the implementation of the old-for-new policy may improve domestic sales in the fourth quarter of this year.
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