Hong Kong City Quick View | The Hang Seng Index closed up 1.62%, auto and education stocks rose strongly, and New Oriental Online rose nearly 40%

Futu Information, June 10 | The Hang Seng Index fell 0.29% in shock, the Hang Seng Technology Index rose 1.62%, and the China Enterprises Index rose 0.04%.

As of the close, Hong Kong stocks rose 915 stocks today, fell 939 stocks, and ended flat at 1016 stocks.

The specific industry performance is as follows:

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In terms of sectors, large technology stocks continued to differentiate . Alibaba rose more than 1%, Meituan fell 0.3%, Tencent rose 0.41%, and Station B fell more than 5%.

Auto stocks are strong, Wuling Motors rose more than 13%, Great Wall Motors rose more than 9%, and BYD shares rose more than 5%.

Auto parts stocks strengthened, Fuyao Glass rose more than 5%, Nexteer rose more than 12%, and Minth Group rose nearly 4%.

SaaS concept stocks performed brightly, with China Youzan up over 33%, Kingsoft Software up over 10%, and Mingyuan Cloud up over 9%.

Battery stocks were the top gainers, BYD Electronics rose more than 12%, BYD shares rose more than 5%, and Ganfeng Lithium rose more than 2%.

Education continued, New Oriental Online rose nearly 40%, and China Education Holdings rose more than 2%.

Mobile game stocks rose, China Mobile Games rose by more than 16%, Fingertips jumped by more than 16%, and NetDragon rose by more than 11%.

In terms of individual stocks, China Youzan (08083.HK) rose over 33%. Huatai Securities said that the company’s store SaaS continued to advance, and its ability to serve major customers continued to improve.

$ New Oriental Online (01797.HK) $ rose nearly 40%. After the selection of Oriental, Yu Minhong once again led the team to set up the New Oriental live broadcast room, specializing in the promotion of education and related products, including books, intelligent software and hardware learning equipment, cultural and educational supplies, etc.

BYD shares (01211.HK) rose more than 5%. Today’s intraday price rose by more than 8%, hitting a record high, and the value of the A-share market exceeded one trillion.

$ Nexteer (01316.HK) $ rose more than 12%, leading the auto zero sector. The agency said that it is expected that the auto market in June is expected to accelerate after policy stimulus and corporate marketing. The shortage of supply chain may further catalyze domestic substitution, and we are optimistic about core independent parts suppliers.

Sunny Optical Technology (02382.HK) rose 1.28%. Morgan Stanley said that as electric vehicle sales and the penetration of advanced driver assistance systems (ADAS) continue to increase, more cameras are needed per vehicle, so in-vehicle cameras have become a new growth driver for Sunny.

Hong Kong Stock Connect Funds

In terms of Hong Kong Stock Connect, today’s Hong Kong Stock Connect (southbound) has a net inflow of HK$3.711 billion.

Today’s top 20 Hong Kong stocks turnover

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It is estimated that by 2025, the number of cross-border railway trains in the new land-sea channel will reach 2,000.

It was learned from the press conference on the “Sino-Singapore Strategic Connectivity Demonstration Project “New International Land-Sea Trade Corridor” Cooperation Plan” that in 2025, the total trade volume between China and ASEAN along the new land-sea corridor is expected to reach 180 billion US dollars, and the rail-sea intermodal transport of containers is expected to reach 180 billion US dollars. The transportation volume has reached 500,000 TEUs, and the number of cross-border railway trains has reached 2,000, basically achieving a balanced development of up and down.

Ministry of Agriculture and Rural Affairs: The average price of pork in the national agricultural wholesale market increased by 0.5% compared with yesterday

According to the monitoring by the Ministry of Agriculture and Rural Affairs, on June 10, the “200 Agricultural Products Wholesale Price Index” was 115.15, down 0.06 points from yesterday, and the “Vegetable Basket” wholesale price index was 114.88, down 0.10 points from yesterday. As of 14:00 today, the average price of pork in the national agricultural wholesale market was 21.15 yuan/kg, up 0.5% from yesterday.

National Railway Administration: Vigorously develop intercity and city railways to build an integrated comprehensive transportation hub

An Lusheng, deputy director of the National Railway Administration, said that in the next step, the railway will focus on three aspects in promoting high-quality development: First, scientifically and orderly promote railway construction. Promote the implementation of a number of major projects in the “14th Five-Year Plan”, improve the “eight vertical and eight horizontal” high-speed railway network, optimize the layout of the normal-speed railway network, solve the problem of too many “blanks” in the western railway, and vigorously develop intercity and urban railways , to build an integrated comprehensive transportation hub. The second is to persevere in improving the quality of transportation. We will comprehensively optimize the layout of freight transport, vigorously develop multimodal transport, continue to promote the adjustment of transport structure, steadily promote the operation of high-speed railways at high speeds according to design standards, and continuously improve the level of informatization and intelligence of transport services. The third is to unswervingly promote security development. Consolidate the foundation of railway safety production, improve the level of safety management, deepen the management of safety environment along the line, and ensure the continuous and stable railway safety.

Institutional view

Goldman Sachs: Visited $ BYD (01211.HK) $ Shanghai dealers pointed to a strong recovery in sales, and the monthly output is expected to increase to 280,000 vehicles by the end of the year

Goldman Sachs issued a research report saying that after Shanghai restarted economic activities, the group visited Shanghai’s best-selling BYD dealer to assess the market recovery. The bank visited a dealership store that delivered 1,400 BYD “Dynasty” series last year (with a target of 2,000 this year), and the dealer’s store manager said that during the “lockdown”, the store managed to trade 150 vehicles online . With operations resuming in June, the store has sold 60 more vehicles so far this month, implying a sales run rate higher than its full-year target, and said BYD’s sales recovered strongly.

Morgan Stanley: Vehicle lenses become a new growth driver for Sunny Optical Technology (02382.HK) , with a target of HK$190

According to a research report published by Morgan Stanley, Sunny Optical’s vehicle lens shipments in May were approximately 6.034 million units, down 4.7% month-on-month and 8.8% year-on-year. The year-on-year changes in the first five months of this year ranged from -10% to +2%. , if shipments in June remain at the level of about 6 million units, the low base last year will increase by about 20% year-on-year. The bank has an “overweight” rating with a target price of HK$190.

Morgan Stanley: Downgrades COSCO SHIPPING Energy (01138.HK) to “Underweight” and raises target price to HK$4.71

Morgan Stanley said in a report that under geopolitical tensions, the stock price of COSCO SHIPPING Energy has outperformed the industry index by 80 percentage points since the beginning of the year. However, the bank expects crude oil shipping to remain sluggish this year at a severe loss level, while cargo shipping demand may remain high, but COSCO SHIPPING Energy has few related businesses. The bank also raised the target price of COSCO SHIPPING Energy shares from HK$4.08 to HK$4.71. However, due to the limited room for profit growth brought about by cargo shipping, the bank believes that the recent increase in the group’s share price is unreasonable, and lowered its investment rating to “underweight”. . The stock is now at HK$5.18, with a total market value of HK$24.7 billion.

Guosheng Securities: Maintain $ Chow Tai Fook (01929.HK) $ “Buy” rating, full-year results are expected to achieve steady growth

Guosheng Securities released a research report saying that it maintained the “buy” rating of Chow Tai Fook (01929.HK), and expected FY2023-25 ​​net profit attributable to the parent to be HK$73.34/93.32/10.836 billion (+9.3%/27.3%/16.1%). As a leader in the jewelry industry, the channel side accelerates the expansion of low-tier cities, the product side optimizes R&D and design, and at the same time attaches great importance to consumer reach.

Lyon: Raise the target price of $Xtep International (01368.HK)$ to HK$13.5 and upgrade to “Outperform”

Lyon released a research report saying that the rating of Xtep International (01368.HK) was upgraded from “underperform” to “outperform”, and it is a defensive stock with attractive valuation, and the target price was raised from HK$13.3 to 13.5 Hong Kong dollar.

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