news

as the a-share market and peripheral stock markets were generally closed, hong kong stocks fell by more than 1% in early trading today, but began to gain momentum in the afternoon. in the afternoon, the hang seng index and hang seng technology index turned positive, achieving a v-shaped reversal.

as of today's close, the hang seng index of hong kong stocks rose 0.31% to 17422.12 points; the hang seng technology index rose 0.51% to 3497.45 points; and the china enterprises index rose 0.31% to 6090.16 points. hong kong stocks traded 47.99 billion hong kong dollars today.

looking ahead, the latest research report from bocom international shows that hong kong stocks have recently emerged from a market independent of a-shares, mainly benefiting from the improvement of the global liquidity environment, with the denominator as the main driving force. although the macroeconomic data in july has suppressed market sentiment to a certain extent, the improvement in the mid-term performance of some leading companies has provided fundamental support for hong kong stocks, showing a certain degree of resilience. with the start of the global interest rate cut cycle, hong kong stocks are expected to continue to benefit from the improvement of the liquidity environment.

precious metals performed well

against the backdrop of international gold prices continuing to hit new highs, precious metals in the hong kong stock market performed impressively today.

among them, china silver group rose by more than 5.2%, shandong gold and china gold international rose by more than 4%, and zhaojin mining, lingbao gold and zijin mining followed suit.

on the news front, the international gold price hit a new high. market data shows that in recent days, the international spot gold price (london gold) has suddenly risen sharply, breaking through the integer mark of 2,580 us dollars per ounce. as of press time, it has once surged to 2,589.24 us dollars per ounce today; the main december contract of gold futures on the new york mercantile exchange (comex) broke through the mark of 2,600 us dollars per ounce, and today it reached a high of 2,617.4 us dollars per ounce, a new high since its listing.

at the same time, anz bank also released a new report saying that it expects the gold price to reach us$2,900 per ounce by the end of 2025.

in the industry's view, the rise in international gold prices is mainly due to the dual influence of global economic data and the fed's interest rate cut expectations. the cpi and ppi data for august released by the u.s. department of labor were both lower than market expectations and have been falling for several consecutive months, indicating that inflationary pressure has eased.

this trend has weakened the constraints on the fed's interest rate cuts, and the market generally expects the fed to cut interest rates further in the future. at the same time, the european central bank's decision to cut interest rates has further boosted the rise in gold prices.

in its latest report, goldman sachs pointed out that the rise in gold is expected to continue until 2025, and expects gold prices to reach a target price of us$2,700 per ounce in early 2025.

however, some analysts pointed out that in the short term, market sentiment may still fluctuate with economic data, and coupled with the impact of the us election and geopolitical factors, gold price fluctuations may intensify.

from the perspective of hong kong stocks as a whole, the latest research report of bocom international shows that in the context of the expected shift in monetary policy, especially after the fed chairman powell released a clear easing signal at the jackson hole global central bank annual meeting, global risk assets generally showed an upward trend. as a market that is highly sensitive to liquidity, has a historically low valuation, and has great elasticity, hong kong stocks continue to show a recovery trend.

guojun international believes that as overseas central banks have successively started the interest rate cut cycle, hong kong stocks will benefit from the improvement of the numerator and denominator. at present, hong kong stocks have fully taken into account pessimistic factors and have a high cost-effective configuration. overseas, the federal reserve is set to cut interest rates this month. the improvement in liquidity on the denominator side is a positive factor for hong kong stocks. interest rate sensitive industries have the greatest elasticity, including internet leaders, pharmaceuticals and consumer industries.

domestically, as restrictive monetary policies in the external sector gradually ease, domestic policy space will be further opened up, and pessimistic expectations on the numerator have been fully priced in the hong kong stock market. the hong kong stock market, which has experienced sufficient corrections in the previous period, has shown its cost-effectiveness.

multiple stocks moved

today, many stocks in the hong kong stock market also saw significant changes, which attracted attention. on september 16, chabaidao, the first stock in the new tea beverage franchise, surged by more than 16% during the day, and by the close of trading, it had risen by 12.74% to hk$4.78 per share.

in august, chabaidao was included in the hang seng composite index, hang seng composite large and medium cap index, hang seng large and medium cap (investable) index, hang seng consumer index and hang seng hong kong stock connect index. public information shows that chabaidao was included in the hong kong stock connect list under the shenzhen-hong kong stock connect and the shanghai-hong kong stock connect, effective september 10. the market generally believes that after being included in the hong kong stock connect, chabaidao is expected to attract more mainland chinese investors, which may improve liquidity and valuation levels.

in terms of financial data, chabaidao achieved total revenue of 2.396 billion yuan in the first half of this year, a year-on-year decrease of 10.0%; net profit attributable to the parent company was 237 million yuan, a year-on-year decrease of 59.7%; adjusted net profit was 395 million yuan, a year-on-year decrease of 34%. guotai junan pointed out that the company's performance in the first half of the year was lower than expected. the market for freshly brewed tea drinks is highly competitive, and the company continues to expand into lower-tier cities. the revenue of single stores is under pressure, and it is expected to optimize products and supply chains.

zulong entertainment surged more than 20% today, closing at hk$1.93 per share.

according to the news, the card rpg mobile game "dragon clan: gate of kassel", which was developed by zulong entertainment and authorized by both the official "dragon clan" and the "dragon clan" animation, officially started public beta on september 12. in just three days, this game not only topped the ios free game list, but also rushed into the top ten of the ios game best-selling list.

cicc previously released a research report stating that the chinese mainland version of "in the name of shining" will be launched in march 2023. its current overall performance is stable. it can still rank in the top ten on the ios game best-selling list during the launch of key clothing, and its user base is relatively solid. the product achieved year-on-year revenue growth in the first half of this year.

in addition, dragons: gate of kassel is scheduled to be launched on september 12 for public testing on all channels; the company also disclosed in its semi-annual report that it will launch wind walker in 2024. it is recommended to pay attention to the driving effect of these two products on the company's revenue and profit performance in the second half of this year.

midea real estate rose more than 10% in the afternoon today. as of the close, it rose 7.06% to hk$2.88 per share.

on the news front, the company held an extraordinary general meeting of shareholders on september 2, at which a restructuring plan was approved with 95% of the votes in favor. the plan involves the equity restructuring of midea real estate, and plans to transfer the property rights of the company's wholly-owned real estate development business from the listed company to the controlling shareholder.

according to the plan, the cash consideration for the in-kind distribution business is set at hk$5.9 per share. based on the closing price of hk$7.35 per share on the last trading day before the ex-dividend date, the calculated ex-dividend benchmark price is hk$1.45 per share.

proofreading: liao shengchao