On July 11th, Futu News reported that the Hong Kong stock market performed strongly today, with the three major indices further increasing their gains in the afternoon. The Hang Seng Tech Index rose sharply by 2.67% and performed the best, while the Hang Seng Index and the H share Index rose by 2.06% and 1.93%, respectively, stabilizing the market sentiment.
At the close, 1360 Hong Kong stocks rose, 601 fell, and 1115 remained unchanged.
The specific industry performance is as follows:
In terms of sectors, large technology stocks rose collectively, with Alibaba and Xiaomi rising by more than 3%, JD.com and Bilibili rising by nearly 3%, and Tencent rising by nearly 2%. The automotive sector rose, with Xpeng up more than 11%, Li Auto Inc up more than 7%, and Nio Inc up more than 5%. Pharmaceutical stocks became stronger, with Remegen up more than 15%, Corpration Bio-B up more than 7%, Wuxi Apptec up more than 5%, and Wuxi Bio up more than 4%. Nonferrous metal stocks rose together, with Ganfeng Lithium up nearly 9%, Tianqi Lithium Corporation up more than 5%, and Zhaojin Mining up more than 4%. Apple-concept stocks rose strongly, with Q-tech up more than 24%, AAC Tech up more than 6%, and FIH up more than 4%. The sporting goods sector rose in the afternoon, with Xtep up more than 6%, Anta up more than 4%, and 361 Degrees up more than 3%. In addition, beer, aviation/airlines, gaming, dining, automotive, semiconductor chips, mainland real estate and property management stocks rose one after another. On the other hand, the Red Sea crisis may ease, and marine transportation stocks have partially widened their losses at the end of the market, with Cosco Shipping Holdings down 3% and the market value at risk of HKD 190 billion. Coal industrial concept, education-related stocks partially declined, and New Oriental down 2.44%.
Nominal automotive stocks rose, with Xpeng up more than 11%, Li Auto Inc up more than 7%, and Nio Inc up more than 5%.
Pharmaceutical stocks became stronger, with Remegen up more than 15%, Corpration Bio-B up more than 7%, Wuxi Apptec up more than 5%, and Wuxi Bio up more than 4%.
Nonferrous metal stocks rose together, with Ganfeng Lithium up nearly 9%, Tianqi Lithium Corporation up more than 5%, and Zhaojin Mining up more than 4%.
Apple-concept stocks rose strongly, with Q-tech up more than 24%, AAC Tech up more than 6%, and FIH up more than 4%.
In the afternoon, the sporting goods sector rose, with Xtep up more than 6%, Anta up more than 4%, and 361 Degrees up more than 3%.
In addition, beer, aviation/airlines, gaming, dining, automotive, semiconductor chips, mainland real estate and property management stocks rose one after another. On the other hand, the Red Sea crisis may ease, and marine transportation stocks have partially widened their losses at the end of the market, with Cosco Shipping Holdings down 3% and the market value at risk of HKD 190 billion. Coal industrial concept, education-related stocks partially declined, and New Oriental down 2.44%.
In terms of individual stocks,$BABA-SW (09988.HK)$Nomura rates it as in line with expectations for the quarter.
$XPENG-W (09868.HK)$Xpeng MONA M03 recently made its global debut and is expected to be launched in August, rising more than 11%.
$GANFENGLITHIUM (01772.HK)$Ganfeng Lithium rose nearly 9% again. Due to its industry, the company's second-quarter net income on a recurring basis is basically controllable given the losses from devaluation.
$Q TECH (01478.HK)$Q-tech rose by more than 24%, with improved sales of smart phones, and the midterm net income is expected to increase by 400% to 500%.
$AAC TECH (02018.HK)$Rising more than 6%, news indicates that the iPhone 16 will increase its shipping target by 10%.
$HKEX (00388.HK)$Rising nearly 3%, the performance will be released in mid-August, with China Renaissance predicting a 7% year-on-year increase in Q2 profit.
$ANTA SPORTS (02020.HK)$Rising more than 4%, due to the industry, the company has turned to quality growth.
Today's top 10 Hong Kong stock turnover
Hong Kong Stock Connect Fund
As for Hong Kong stock market, the net inflow of Hong Kong Stock Connect (Southbound) was CNY 0.474 billion today.
Institutional perspective
UBS Group is bullish on Baidu's long-term AI potential, and the target price for H shares is HKD 161.
UBS Group said,$BIDU-SW (09888.HK)$Stock price rises stimulated by the news of a robotic taxi, reflecting investors' renewed interest in the company due to its self-driving business. The bank holds a positive view on Baidu's long-term AI potential and undervaluation, but believes that it will take time for the concept to gradually translate into income. The bank currently rates Baidu as a "buy," with target prices of USD 165 for American depositary shares and HKD 161 for H shares.
Lyon: Raised the target price of BYD to HKD 300, raised the sales forecast for this year to 4 million units. On the fast-growing and developing electric vehicle market in the mainland, sales are still more important than overall price reductions. The bank believes that achieving double-digit net income and medium to long-term sales target of 6-10 million vehicles is achievable. The bank pointed out that BYD has operational efficiency advantages relative to its global peers. In addition, based on the success of the DM5.0 technology platform, the bank raised BYD's sales forecast for the year from 3.8 million units to 4 million units, and raised its profit forecast to 3.8 billion yuan. The H-share target price was correspondingly raised from HKD 264 to HKD 300, maintaining a "beat the market" rating.
Citigroup: Raised Qiutai Technology's target price to HKD 4.6 and raised earnings forecast per share from this year to 2026. Citigroup published a report, raising the target price from HKD 3.4 to HKD 4.6, maintaining a "neutral" investment rating. The bank also raised the company's earnings forecast per share from this year to 2026 by 4%, reflecting ideal delivery of camera modules. The report pointed out that Qiutai Technology announced yesterday (10th) after the close of trading and released a profit surprise. Mid-term net profit is expected to increase by 4 to 5 times annually. At the median, mid-term net profit is equal to 54% and 34% of the market's and the bank's full-year net profit forecasts, respectively. The bank believes that the performance exceeded market expectations, but it roughly met the bank's expectations, taking into account seasonal factors.$BYD COMPANY (01211.HK)$Achieving a double-digit net income and medium-to-long-term sales target of 6 million to 10 million autos is achievable. The bank pointed out that BYD has operational efficiency advantages over its global peers. In addition, based on the success of the DM5.0 technology platform, the bank raised BYD's full-year sales forecast from 3.8 million to 4 million autos, and correspondingly raised its profit forecast to 3.8 billion yuan, and raised its H share target price from HKD 264 to HKD 300, maintaining a "outperform" rating.
Lyon: Raised the target price of Q Tech to HKD 4.6, and raised the earnings forecast per share from this year to 2026.
Citigroup has issued a report saying that$Q TECH (01478.HK)$The bank's target price for Q Tech has been raised from HKD 3.4 to HKD 4.6, maintaining a "neutral" investment rating. The bank also raised the company's earnings forecast per share from this year to 2026 by 4%, reflecting ideal delivery of camera modules. The report pointed out that Qiutai Technology announced yesterday (10th) after the close of trading and released a profit surprise. Mid-term net profit is expected to increase by 4 to 5 times annually. At the median, mid-term net profit is equal to 54% and 34% of the market's and the bank's full-year net profit forecasts, respectively. The bank believes that the performance exceeded market expectations, but it roughly met the bank's expectations, taking into account seasonal factors.
Editor/Emily