Futu Information, May 24 | The three major Hong Kong stock indexes opened lower and moved lower. The Hang Seng Index fell 1.38%, the China Enterprises Index fell 1.33%, and the Hang Seng Technology Index fell 2%.

As of the noon close, Hong Kong stocks rose 518, fell 1106, and closed flat at 1245.

In terms of sectors, large technology stocks generally fell, Tencent fell by more than 1%, Meituan, JD.com, and Baidu fell by more than 3%, and Ali and Kuaishou followed suit.

The trend of auto stocks is divided. Great Wall Motors rose nearly 8%, Geely Automobile rose more than 5%, BYD shares fell more than 5%, Xiaopeng fell more than 7%, and Weilai fell more than 6%.

Coal stocks bucked the trend and strengthened. Yankuang Energy rose more than 5%, China Coal Energy rose nearly 2%, and China Shenhua and Shougang Resources followed suit.

Some Tesla concept stocks rose, Fuyao Glass and Minth Group rose more than 6%, and Nexteer rose more than 1%.

Gaming stocks fell, Sands China fell more than 5%, MGM China fell more than 4%, Galaxy Entertainment fell more than 3%, and SJM Holdings fell more than 2%.

In terms of individual stocks, Great Wall Motor (02333.HK) rose 7.78%. On the news, the executive meeting of the State Council held last night decided to reduce the purchase tax of some passenger vehicles by 60 billion yuan in stages. Considering that new energy vehicles already enjoy the purchase tax exemption, the purchase tax reduction is more conducive to the consumption of fuel vehicles.

$ Fuyao Glass (03606.HK) $ rose more than 6% to lead Tesla concept stocks. It is reported that Tesla will restore the production of Shanghai plant to the level before the closure today. In addition, the 60 billion purchase tax reduction policy is expected to boost auto consumption, and auto parts stocks are expected to benefit from it.

$Clover Bio-B(02197.HK)$ bucked the trend and rose nearly 6%, and rose by more than 80% on the 4th. Since the beginning of this month, Clover Bio has received continuous inflow of funds from the south, with a cumulative increase of 1.1 percentage points to 1.86%. In addition, the company’s COVID-19 vaccine candidate SCB-2019 is under review by the WHO Emergency Use List (EUL).

Nai Xue’s Tea (02150.HK) rose nearly 4%, and rose more than 9% during the session. The company’s “520” sales performance increased significantly, and the revenue of multi-city stores doubled.

$ GCL Technology (03800.HK) $ rose 0.76% to record four consecutive gains. The company announced that it is considering and exploring the feasibility of the company issuing ordinary shares traded in RMB and listing on the domestic stock exchange in China (proposed to issue A shares).

$Xpeng Motors-W(09868.HK)$ fell by more than 7%. Yesterday, the company released its first quarterly report and realized revenue of 7.455 billion yuan in the quarter, a year-on-year increase of 152.6% and a month-on-month decrease of 12.9%; the net loss was 1.7 billion yuan, compared with last year. The loss of 787 million yuan in the same period has narrowed, but it has expanded compared with the loss of 1.287 billion yuan in the fourth quarter of 2021.

$Galaxy Entertainment (00027.HK)$ fell by more than 3%, and Macau’s gaming tax revenue fell by more than 17% year-on-year in the first four months. Earlier, according to media reports, senior gaming executives in Macau offered shares in lieu of salary to reduce the short-term burden of the company.

$ Junshi Bio (01877.HK)$ plunged 10%. The company said that the Phase III clinical trial of VV116 had reached the primary endpoint and recently submitted a new drug listing application.

Deutsche Bank: Maintain $Tencent Holdings (00700.HK)$ “Buy” rating, lower target price to HK$470

Deutsche Bank released a research report saying that it maintained Tencent’s “buy” rating, lowered its revenue forecast for this year and next by 5%/6%, adjusted its net profit forecast by 10%/7%, and lowered its target price from HK$510 to HK$470. Despite the challenges, confidence in the long-term growth prospects remains. According to the report, its advertising and financial technology and business services businesses are expected to gradually recover since June, or to see a more pronounced recovery in the third quarter, but the specific rebound depends on the actual situation. In terms of game business, the bank expects that Tencent will launch key new games such as Return to Empire and Apex Legends Mobile in the second quarter. Coupled with the relaxation of the regulatory environment, Tencent is expected to obtain new version numbers within this year, which has a larger business upside compared to the second half of the year.

Half-day turnover TOP20

This article is reprinted from: https://news.futunn.com/post/15803858?src=3&report_type=market&report_id=206461&futusource=news_headline_list
This site is for inclusion only, and the copyright belongs to the original author.