Futu Information, May 30 | Hong Kong stocks performed strongly throughout the day today, with the Hang Seng Index up 2.06%, the Hang Seng Technology Index up 3.94%, and the China Enterprises Index up 2.44.

As of the close, Hong Kong stocks rose 1,254 stocks today, fell 638 stocks, and closed flat at 976 stocks.

The specific industry performance is as follows:

In terms of sectors, large technology stocks were strong throughout the day . Bilibili rose by more than 9%, Sunny Optical Technology rose by more than 8%, Meituan and JD.com rose by nearly 7%, Alibaba rose by more than 4%, and Tencent rose by more than 2%.

Catering stocks rose sharply, Helens rose more than 14%, Nai Xue’s tea rose more than 12%, and Jiu Mao Jiu, Haidilao, Xiabuxiabu also rose. The domestic epidemic situation has improved, and policies to promote consumption are frequently issued.

Some auto stocks rose, Xiaopeng Motors rose nearly 6%, Weilai rose more than 5%, and BYD and Ideal Motors followed suit. According to the news, it is planned to start a new round of new energy vehicles going to the countryside.

Sporting goods stocks performed well. Li Ning rose by more than 11%, Xtep International rose by more than 8%, Anta Sports and Bosideng followed suit.

Pharmaceutical stocks strengthened, Ali Health rose by more than 5%, CSPC rose by more than 4%, Fosun Pharma rose by more than 3%, and JD Health and Innovent Biology followed suit.

Coal stocks fell, Yankuang Energy fell nearly 4%, Yancoal Australia, China Shenhua fell.

In terms of individual stocks, $Meituan-W(03690.HK)$ rose nearly 7%. On the news, there are frequent measures to promote consumption; Meituan will announce its results on June 2.

$HKEX (00388.HK)$ rose 2%, and qualified ETFs in Hong Kong and A are included in the interconnection.

Li Ning (02331.HK) rose more than 11%. Morgan Stanley said that Li Ning has an “overweight” rating and a target price of HK$89.

$Sunny Optical Technology (02382.HK)$ rose more than 8%. The agency pointed out that Q2 was a low point of operation, and the valuation was at a historically low level.

$Meilan Airport (00357.HK)$ rose by more than 7%, and international passenger flights are expected to increase. In addition, the entry inspection and isolation policies are also being continuously optimized and adjusted.

$ China Resources Beer (00291.HK) $ rose more than 8%, UBS: China Resources Beer will be included in the list of preferred stocks in the Asia-Pacific region, reiterated the “buy” rating.

$Haichang Ocean Park (02255.HK)$ rose by more than 7%. Morgan Stanley said that the Dragon Boat Festival and summer vacation will help the recovery of travel demand. The company is mainly engaged in the development and operation of theme parks and supporting commercial properties, and will benefit from the national The improvement of the epidemic situation, as well as the promotion fee policy in many places.

Xinxin Company (02400.HK) rose more than 6%, and was valued at HK$43.3 by brokerages, doubling the current price.

$New Oriental-S(09901.HK)$ rose by more than 10%, OK smart teaching was released on the big screen, and institutional comments said that the company’s goal is the blue ocean market of smart education.

Hong Kong Stock Connect Funds

In terms of Hong Kong Stock Connect, today’s Hong Kong Stock Connect (southbound) has a net outflow of HK$1.476 billion.

Today’s top 20 Hong Kong stocks turnover

message side

The central parity of the yuan against the U.S. dollar was at 6.7048, up 339 basis points

National Health Commission: Gradually solve problems such as insufficient supply of HPV vaccine

According to the press conference of the National Health and Medical Commission, at present, 5 HPV vaccine products have been approved for registration in my country. Overall, the HPV vaccine is still in short supply, and the HPV vaccination rate of school-age women in my country is relatively low. In the next step, we will vigorously summarize and promote the experience of pilot and pilot trials, and promote the free HPV vaccination policy to cover more people; at the same time, we will increase multi-departmental collaboration to meet the needs of vaccination.

Guotai Junan: The policy of stable growth has increased, and the resilience of steel demand is still

Guotai Junan pointed out that the policy of stabilizing growth has increased, and the resilience of steel demand is still there. Last week, the warehouse of the five major varieties of steel fell by 178,000 tons, the factory warehouse fell by 37,200 tons, and the total inventory fell by 215,200 tons. Last week, the apparent consumption of the five major types of steel was 9.9981 million tons, down 234,200 tons. In the short term, the impact of the epidemic will gradually usher in the traditional off-season, and the downstream demand for steel will continue to be weak. However, in the whole year, under the downward pressure of the domestic economy, the policy of stabilizing growth has been continuously increased, which has formed a strong support for the recovery of steel demand in the later period. We expect that with the gradual improvement of the epidemic situation in the second half of the year, the infrastructure and real estate policies will gradually take effect, the demand for steel is expected to accelerate, and the sector is expected to meet the recovery.

Ukraine’s Ministry of Agriculture: Planted area will fall by 20% this year

Ukraine’s Ministry of Agriculture recently stated that the planting of spring crops in Ukraine in 2022 is almost complete, but the planting area is 22% lower than that in 2021, of which spring barley planting is down 31% year-on-year, and corn planting is down 14% year-on-year. Ukraine’s agriculture ministry did not provide a forecast for 2022 cereal production, but said the country’s planted area would fall by 20 percent this year.

Institutional view

CITIC Securities: The liberalization of ETF rules further expands investment channels for Hong Kong stocks

CITIC Securities said that the progress of the ETF pass is in line with expectations, and it is expected to be officially implemented around August 2022. The main system refers to stock interconnection, which is expected to increase the amount of northbound transactions. The agency also stated that the liberalization of the ETF rules will broaden the channels for mainland investors to indirectly hold the secondary listing targets of Hong Kong stocks and REITs, and at the same time, it can avoid the potential quota risks of the QDII channel, which is conducive to the allocation of long-term funds to Hong Kong stocks. In addition, ETF Link will also help mainland funds directly invest in high-quality overseas managers, and the launch of ETF Link between the mainland and SGX in the second half of the year is also worth looking forward to.

Furui: Raise the target price of BYD shares (01211.HK) to HK$329, with a “buy” rating

Furui published a report that it will study the affordability of gasoline vehicles and new energy vehicles to understand whether consumers will continue to buy new energy vehicles, and concluded that there is no change in the transition to new energy vehicles. The bank believes that BYD and Xpeng Motors-W(09868.HK)$ are the forerunners in the mass market of new energy vehicles, while BYD’s low-cost and high-performance hybrid vehicles DM-i and marine series are expected to continue to gain market share shares, raised its target price from HK$295.1 to HK$329, and maintained a “buy” rating.

CICC: Downgrade $Baidu Group-SW(09888.HK)$ target price to HK$196.7, rating “Outperform”

CICC issued a report that Baidu’s first-quarter results were better than expected. Due to the rebound of the epidemic, it is believed that the group’s mobile ecosystem will be under short-term pressure, and in response to the short-term decline in revenue, the group is reducing variable expenses, cutting costs and improving efficiency. The company still sees a rebound in core ad revenue in the second half of the year. The bank pointed out that as the company reduces costs and increases efficiency, its video website platform iQiyi has gradually turned losses into profits, so it will raise its non-GAAP net profit forecasts for 2022 and 2023 by 21% and 12% respectively. 16.3 billion and 22.7 billion yuan. Taking into account the slowdown of the online marketing business caused by the epidemic, the target price-earnings ratio forecast of the advertising business in 2023 was lowered from 8.5 times to 8 times, and the rating was maintained as “outperform the market”, and the target price of H shares was lowered by 7.8% to HK$196.7.

Morgan Stanley: “Overweight” rating on Li Ning (02331.HK)$ with a target price of HK$89

Morgan Stanley issued a report stating that it believes that Li Ning’s share price will rise in the next 15 days, with a 70% to 80% probability of occurrence, with an “overweight” rating and a target price of HK$89. The bank pointed out that Li Ning’s stock price has fallen 16% since May 18, and believes that sales in April and May cannot be used as an explanation, because it has noticed that its online sales have resumed double-digit growth, and offline sales pressure has gradually eased. . At the same time, Morgan Stanley does not believe that the stock price decline is caused by the market’s concerns about the epidemic. The main reason is that Li Ning’s stock price underperforms other brands and retailers, but its basic growth momentum is still strong, so I believe the stock price is supportive at the current level.

Goldman Sachs: Reduce the target price of $ Ganfeng Lithium (01772.HK) $ to HK $ 160, and remove the buy list. Feng Lithium’s H shares were removed from the list of convinced buys, based on the bank’s cautious outlook on lithium prices. The bank raised its recurring EPS forecast for Ganfeng Lithium by 126% this year, but lowered its forecast for next year to 2025 by 24% to 45% to reflect the bank’s revision of its lithium price forecast and updated company expansion project plans. The bank pointed out that even though the spot price of lithium will recover from the current level, it is estimated that the market has roughly reflected the related short-term risks and long-term supply risks, and estimated that Ganfeng Lithium’s share price will be 14 to 17 of the estimated price-earnings ratio of the industry in 2024 and 2025. Therefore, we maintain our “buy” rating on Ganfeng Lithium.

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