On March 23, Hong Kong stocks continued to rebound. The Hang Seng Index rose 1.21% to 22154 points, up more than 20% in six trading days, and returned to above 22000 points. The Hang Seng technology index rose 2.05% to 4749 points, up nearly 5% during the session. The SOE index rose 1.28% to 7635 points. Today, the net inflow of funds from the South was HK $5.498 billion, and the market turnover was HK $177.3 billion.
On the disk, large technology stocks generally rose, Alibaba, fast Kwai rose 7%, Jingdong late turn down; Telecom equipment stocks led the rise in the afternoon, winning the lawsuit. Zte Corporation(000063) afternoon resumption once soared by 60%, closing up more than 23%, showing a more eye-catching performance; Affected by favorable policies, hydrogen energy stocks strengthened, education stocks rebounded significantly, catering stocks, automobile stocks, military stocks, semiconductor stocks, traditional Chinese medicine stocks and large financial stocks rose one after another, and Weilai automobile hit a new high in the listing. On the other hand, the power sector bucked the trend and fell significantly. The early active sporting goods stocks were depressed all day, while home appliance stocks, oil stocks and port shipping stocks generally fell.
Specifically,
Technology stocks rose sharply. Kwai Meng group rose more than 16%, beep Li Li rose over 10%, fast hand, Ali rose over 6%, millet, Baidu, the United States, Tencent and other rising, Jingdong late turn down. In terms of news, yesterday, Alibaba and Xiaomi announced a large-scale repurchase, and the market is expected to start a new round of China concept share repurchase boom. In addition, Xiaomi’s results released last night showed that Q4’s revenue was 85.575 billion yuan, a year-on-year increase of 21.4%. Tencent will also announce its results after hours today.
Hydrogen energy stocks rose sharply. Jingcheng electromechanical shares rose by more than 25%, Dongyue Group rose by more than 13%, CIMC Enrico rose by more than 9%, and Dongfang Electric Corporation Limited(600875) and Weichai Power Co.Ltd(000338) followed. The national development and Reform Commission issued the medium and long term plan for the development of hydrogen energy industry (20212035). By 2025, a relatively perfect institutional and policy environment for the development of hydrogen energy industry will be formed, the industrial innovation ability will be significantly improved, the core technology and manufacturing process will be basically mastered, and a relatively complete supply chain and industrial system will be preliminarily established. Remarkable achievements have been made in the demonstration and application of hydrogen energy, great progress has been made in clean energy hydrogen production and hydrogen energy storage and transportation technology, and the market competitiveness has been greatly improved. A hydrogen energy supply system focusing on the nearby utilization of industrial by-product hydrogen and renewable energy hydrogen production has been preliminarily established. The number of fuel cell vehicles is about 50000, and a number of hydrogenation stations are deployed. Hydrogen production from renewable energy has reached 1 China Vanke Co.Ltd(000002) 00000 tons / year, which has become an important part of new hydrogen energy consumption and achieved carbon dioxide emission reduction of 1-2 million tons / year.
Education stocks generally rose, Tianli education rose by more than 39%, Dashan education and Guangzheng education rose by more than 7%, New Oriental rose by more than 5%, and thinking music education rose by more than 3%. On the news side, the Ministry of education and other departments issued the notice on the implementation of the plan for raising one million employment internships, launched the implementation of the plan for raising one million employment internships, and further promoted the work of employment internships.
The concept of pharmaceutical outsourcing has become stronger. Yaoming biology, Pharmaron Beijing Co.Ltd(300759) , Wuxi Apptec Co.Ltd(603259) rose by more than 11%, and Hangzhou Tigermed Consulting Co.Ltd(300347) rose by more than 9%. On the news front, the monthly report data of several enterprises show that at present, CXO is still an excellent sector with both certainty and growth in the pharmaceutical sub field. Therefore, institutions are optimistic about the annual report and first quarter report of the sector, with high performance, growth and cash market.
Hong Kong stocks and catering stocks strengthened, with hellens rising by more than 8%, Naixue’s tea and International Trade Holdings rising by more than 7%, Haidilao rising, Xiabu Xiabu, hellens and jiumaojiu rising.
Auto stocks led the gains. Weilai SW rose 5.36%, Byd Company Limited(002594) shares rose more than 3%, and Xiaopeng automobile-w and Geely Automobile followed. On the news side, Galaxy Securities released a research report that recently, electric vehicle manufacturers intensively announced a new round of price increases. Since March, nearly 20 new energy vehicle enterprises have announced price increases, involving nearly 40 models. On the one hand, the shortage of chips, the rise of raw materials and the increase of vehicle manufacturing costs; On the other hand, the supply is less than the demand, and the waiting time in line for car purchase is long, often two months or even half a year. This gives electric vehicle enterprises the confidence to raise prices. The improvement of the terminal price of electric vehicles will further test the competitiveness of products. In addition, it will benefit significantly from cost control, raw material cost advantage and vehicle enterprises with capital cash flow advantage. Therefore, it will accelerate the differentiation of the competition pattern of electric vehicles and benefit the leading companies.
Housing stocks rose sharply. Jiazhaoye group rose 13%, Greentown China rose more than 8%, and Longguang group, Xuhui holdings and Lvjing China followed. On the news side, Harbin abolished the notice of the general office of Harbin Municipal People’s Government on Further Strengthening the regulation and control of the real estate market and cancelled the regional sales restriction policy.
The concept of sporting goods led the decline. Anta Sports fell 7.12%, Tebu international fell more than 3%, and taobo fell more than 2%. Guosheng Securities said that the sports track fluctuated in the short term and still grew rapidly in the medium and long term. 1) Short term: according to the tracking, the flow of Chinese sports brands increased rapidly from January to February. It is expected that there will be some pressure on the growth rate with the arrival of a high base from March to April. 2) Medium and long term: China’s sports shoes and clothing market is still in the stage of rapid growth.
Power stocks fell across the board Huaneng Power International Inc(600011) power fell by more than 6% after its performance, while China Resources Power and China power fell by more than 3%, followed by Datang International Power Generation Co.Ltd(601991) , Huadian Power International Corporation Limited(600027) power shares. On the news, Huaneng Power International Inc(600011) Electric Power Co., Ltd. announced its performance in 2021, with an operating revenue of 204605 billion yuan (the same below), an increase of 20.7% year-on-year. A loss of 10.636 billion yuan was recorded, which turned profit into loss compared with the net profit of 2.378 billion yuan in the previous year; Loss per share 81 points. No dividend.
In terms of individual stocks, Zte Corporation(000063) soared 60% to HK $24.9 Zte Corporation(000063) announced at noon that the company received the court’s judgment on March 22, 2022 (US time) and ruled not to revoke the probation of Zte Corporation(000063) without any penalty (i.e. the probation will expire on March 22, 2022), and confirmed that the term of office of the inspector will end on March 22, 2022 (US time).
China Merchants Securities Co.Ltd(600999) said that Zte Corporation(000063) winning the lawsuit is beneficial to the recovery of the valuation of the communication industry, and it is recommended to lay out on the left at the bottom of the sector. From 2020 to 2021, the valuation of the communication sector continued to decline, and ZTE’s victory is expected to help the emotional recovery of the sector. With the high degree of globalization of communication equipment, the relationship between overseas operators and Chinese suppliers may reproduce opportunities, and the overseas territory continues to expand.
Today, the net inflow of funds from the South was HK $5.498 billion, including HK $3.199 billion from Hong Kong stock connect (Shanghai) and HK $2.299 billion from Hong Kong stock connect (Shenzhen).
Looking forward to the future, the Founder Securities Co.Ltd(601901) research report believes that, similar to the previous situation, Hong Kong stocks are currently in the stage of economic downturn and tightening monetary environment. The repeated covid-19 epidemic, the Russian Ukrainian war and the increasingly severe and complex international situation add uncertainty to the Hong Kong stock market. The difference is that this round of accelerated adjustment of Hong Kong stocks since February this year is a decline again when the valuation itself is already low. After this round of decline, the Hong Kong stock market is now in a valuation depression with prominent allocation value.
