On Tuesday, Hong Kong stocks fell for the third day in a row. The performance of cyclical sectors, including commodities, was weak today, and the trend of financial sectors was sluggish. In addition, biomedicine, including CXO, performed strongly and really attracted attention.
Stocks with higher weight in the Hang Seng index did not perform well today. The declines of meituan-w (03690. HK), HSBC Holdings (00005. HK) and China Construction Bank Corporation(601939) (00939. HK) contributed more than 100 points to the decline of the Hang Seng Index, accounting for more than half of the decline of the Hang Seng Index today. At the same time, the external situation has not improved significantly, putting pressure on the Hong Kong stock market.
Note: performance of constituent stocks of Hang Seng Index
Ping An Securities recently pointed out that under the background of the emergency meeting of the Federal Reserve and the turbulent situation in Ukraine, the Hang Seng index may face the pressure of short-term correction. After the market correction, the market is expected to usher in the opportunity of valuation repair.
Among the three major indexes, the Hang Seng Index fell 0.82% or 200.86 points to close at 24355.71; Hang Seng technology index fell 0.22% to close at 5490.28; The SOE index fell 1.05% to close at 8528.27.
Note: the trend of Hang Seng Index on Tuesday
In terms of sectors, most sectors continue to adjust. The trend of cyclical sectors such as oil, steel and iron ore is relatively low today. Large financial sectors also follow the market trend, and banks, finance and insurance all fell. Only CXO, biomedicine and automobile sectors rose against the trend.
periodic sector callback
The cyclical sector, which led the rise sharply in the early stage, fell today. Among them, the correction of iron ore concept stocks was obvious, and the sector closed down 1.74%.
Zhongce group (00235. HK) and CITIC Resources (01205) fell 4.44% and 3.64% respectively.
However, the reason for the correction of the cyclical sector is a piece of news. The national development and Reform Commission will organize a "warning meeting" for the smooth operation of the iron ore market today
It is mentioned that relevant enterprises including Minmetals Group, CITIC metals, AVIC international mineral resources, Xiamen Jianfa, Jidong development, Xiamen Itg Group Corp.Ltd(600755) , Wuchan Zhongda Group Co.Ltd(600704) , Zheshang Development Group Co.Ltd(000906) , Xiamen Xiangyu Co.Ltd(600057) and so on will participate in this reminder and warning special meeting. The above participating enterprises are important participants in China's iron ore trade.
Once the news was issued, China's main iron ore futures hit the limit, falling 9.98% to 699 yuan / ton at the close of today.
note: iron ore 2205 trend today
The news also triggered a cyclical sector adjustment in the stock market. As of the close, the coal and oil sectors of Hong Kong stocks fell 1.8% and 1.65% respectively.
the three financial sectors fell together
In the large financial sector, banks, finance and insurance all closed lower, with declines of 2.87%, 2.4% and 2.42% respectively. Among them, the insurance sector fell across the board, and China Taiping (00966. HK) and Ping An Insurance (Group) Company Of China Ltd(601318) (02318. HK) fell 5.97% and 3.53% respectively.
Citic Securities Company Limited(600030) pointed out that the right side of the insurance sector is not ready at present. The sales model of life insurance companies represented by agent channels has been impacted and has not yet bottomed out; The exploration of the new model is still in the process and has not been established. Maintain the "neutral" rating of the insurance industry.
medicine hit the bottom and rebounded
The pharmaceutical sector, which has continued to callback recently, changed its previous sluggish trend today. Among them, CXO sector gained market attention again today, with Joinn Laboratories (China) Co.Ltd(603127) (06127. HK) and Wuxi Apptec Co.Ltd(603259) (02359. HK) rising the most, up 13.14% and 12.75% respectively.
Some analysts pointed out that the main reason why the pharmaceutical sector, including CXO, has tended to strengthen recently is that there are many early adjustments in the CXO industry, and the valuation of most companies has fallen to a low level; Pfizer covid-19 oral drug nimatovir tablets / ritonavir tablets combination packaging (paxlovid) was recently approved by the China food and drug administration, which attracted market attention.
At the same time, Soochow Securities Co.Ltd(601555) pointed out that China Dragon CXO company has cooperated with leading pharmaceutical companies in the United States for many years and has undertaken a large number of covid-19 drug orders. If American pharmaceutical companies replace CXO service providers, they will face a situation of high cost and high risk. In addition, the listing of YaoMing biology in UVL has a very limited impact on the company and industry, and it is expected to be removed from the list in the next few months.
China Securities Co.Ltd(601066) according to a research report published today, covid-19 oral drugs have great potential for commercialization, which is conducive to the leader of small molecule cdmo (customized research, development and production of pharmaceutical contracts). Pfizer expects paxlovid to supply 120 million people in 2022, which has great potential in the upstream supply chain and is conducive to China's excellent small molecule cdmo leading enterprises. By tracking the investment and financing of global innovative drugs and the R & D expenses of MNC, we can see that pharmaceutical innovation continues to increase, and the performance of CXO industry is sustainable.
southbound fund
Today, the southward capital inflow was HK $82.67 million, and its inflow scale was lower than that in the previous period.
news and changes of individual stocks in Hong Kong market
[Sihuan pharmaceutical rose nearly 20%, CBC group completed the acquisition of Hugel and plans to promote its strategic cooperation with the group]
Sihuan Pharmaceutical (00460. HK) rose 19.38% to HK $1.91. According to the announcement, Sihuan pharmaceutical announced that on February 11, 2022, CBC group announced that the acquisition of Hugel had been completed. CBC group became the single largest shareholder and actual controller of Hugel, controlling about 42.90% of the equity of Hugel. Sihuan pharmaceutical is Hugel's exclusive strategic partner in China.
According to the announcement, CBC group plans to further promote and strengthen the strategic cooperation between Hugel and the group in China, including but not limited to the current cooperative products botulinum toxin letipol and hyaluronic acid.
[the BCMA car-t candidate product jointly developed by Cinda biology and reindeer medical increased by nearly 18% and won the FDA orphan drug qualification]
Cinda Biology (01801. HK) rose 16.75% to HK $33.45. According to the previous announcement, the candidate product of all human autologous B-cell maturation antigen (BMCA) chimeric antigen receptor autologous T-cell (car-t) injection jointly developed by Xinda biology and innovative biopharmaceutical company reindeer medical has recently obtained the qualification of orphan drug granted by the U.S. Food and Drug Administration (FDA).
[Longguang group fell 12%, was downgraded by Moody's and put its outlook on the watch list]
Longguang group (03380. HK) fell 12.4% to HK $3.8. According to Moody's report, Longguang group lowered its rating from "Ba2" to "ba3", lowered the rating of senior unsecured bonds issued by the company from "ba3" to "B1", and further lowered its outlook from the previous stability to the watch list. The bank said that the downgrade mainly reflected the weakening of the company's financing channels and concerns about the insufficient internal control of its liabilities.
[China Resources beer rose nearly 4%, and Damo said its short-term valuation was more attractive]
China Resources beer (00291. HK) rose 3.73% to HK $62.6. According to the Da Mo report, the share price of China Resources beer (00291) will rise in the next 60 days, and the probability of this is expected to be between 70% and 80%. At the same time, they also pointed out that the increase of beer price will play an important role in the profit growth in the peak sales season this year. The report said that recently, due to the negative impact of the recent outbreak of the epidemic, the share price of China Resources beer has corrected, making its short-term valuation more attractive.
