The market of Hong Kong stocks on Friday was “a little red in the green cluster”. The main indexes fell collectively, and most technology stocks ushered in a significant adjustment. Ping an good doctor (01833. HK) and BiliBili (09626. HK) fell by more than 10%. In addition, southbound funds flowed out HK $3.249 billion today, the largest outflow this month.
Note: constituent stocks of Hang Seng technology index
It is worth noting that the constituent stocks of the science and technology index were almost wiped out. Among them, Alibaba SW (09988. HK), meituan w (03690. HK) and JD group SW (09618. HK) fell by 5.62%, 8.16% and 5.30% respectively.
The sharp adjustment of technology stocks exacerbated market concerns and led to lower sentiment. As of the close, the Hang Seng technology index fell 4.98% to close at 437933 points; The Hang Seng Index fell 2.47% to close at 2140488; The SOE index fell 3.24% to close at 728392.
Note: Hang Seng technology index
recently, the Hong Kong stock market changed from rise to fall. What happened
Since the market bottomed out, the Internet, biomedicine and other sectors have rebounded significantly. Taking Tencent Holdings (00700. HK) as an example, the company has rebounded by more than 20% in nearly seven trading days. Even Hong Kong stock technology ETF (513020. SH), which holds the subject matter of Hong Kong stock technology, rose by more than 20%.
At the same time, the performance of some weighted technologies was generally lower than expected. Although the market had predicted for a long time, it still caused some investors’ concerns. Therefore, after the sharp rise in the Hong Kong stock market, there may be a demand for correction in the short term. In the short term, the shock is the normal state of the market at this stage if there is no positive and continuous release in the follow-up of the market.
In addition, the Russian Ukrainian incident became tense again, and the United States announced that it had cooperated with the European Union and the group of seven to impose sanctions on more than 400 Russian individuals and entities.
In terms of sectors, most sectors followed the market adjustment, among which the Internet, biomedicine, automobile and other sectors fell by more than 3%, while only banks rose slightly.
Xinda biological new drug failed to be approved, causing sector adjustment
In the biomedical sector, Xinda Biology (01801. HK) and JD health (06618. HK) fell 12.93% and 11.06% respectively.
In terms of news, Cinda biology announced that the US Food and Drug Administration (FDA) failed to approve the new drug marketing application (BLA) of the innovative PD-1 inhibitor jointly developed by the company and Eli Lilly Pharmaceutical (ly. US). This product is a PD-1 inhibitor, which was developed by Cinda biology at an early stage and reached an authorized cooperation with Lilly in 2015.
March auto sales data is expected to be poor
In the auto sector, all stocks closed lower, with Great Wall Motor Company Limited(601633) (02333. HK) and Weilai SW (09866. HK) leading the decline.
According to the passenger Federation, the retail sales of major manufacturers of passenger cars decreased by – 13% and 3% respectively on the first and second Sundays of March; Under the influence of the epidemic in many places, the car market decreased by 29% year-on-year in the third week due to the slowdown of production and the closure of terminal stores. The market is expected to recover in the fourth week, driven by the impulse at the end of the month, with a year-on-year decrease of about – 10%.
In addition, Weilai SW (09866. HK) today released the results of the fourth quarter and the whole year of 2021, of which the annual revenue was about 36.14 billion yuan, a year-on-year increase of 122.3%, and the net loss was 4.02 billion yuan, a year-on-year decrease of 24.3%, but the delivery guidance and revenue in the first quarter were lower than the market expectation.
In the context of the correction of most sectors, bank stocks rose slightly, attracting market attention, among which China Citic Bank Corporation Limited(601998) (00998. HK) and Bank Of Communications Co.Ltd(601328) (03328. HK) rose 3.78% and 2.06% respectively.
In terms of news, China Citic Bank Corporation Limited(601998) announced the results of 2021 on Thursday, of which the revenue was 204554 billion yuan (the same below), a year-on-year increase of 4.69%; The net profit attributable to the bank’s shareholders was 55.641 billion yuan, a year-on-year increase of 13.6%. In addition, Zhongtai Securities Co.Ltd(600918) is rated as China Citic Bank Corporation Limited(601998) “overweight”, and it is estimated that the operating revenue in 2022 / 2023 / 2024 will be 220818/242.02/265971 billion yuan.
southbound funds
There was a significant outflow of HK $3.249 billion from the south today.
Note: the trend of southward funds since this year
market stock news and changes
[JD logistics fell by nearly 14% and sold shares at a discount of nearly 10%]
JD logistics (02618. HK) fell 13.74% to HK $19.84. According to the announcement, the company plans to raise funds through placing new shares and issue additional shares to its controlling shareholder Jingdong group SW (09618. HK). The two pronged approach will raise a total of about US $1.1 billion, equivalent to about 7.005 billion yuan. It is worth noting that its placement price is nearly 10% lower than the closing price of HK $23 the previous day.
[Changshi group rose slightly by 1% and Li Ka Shing’s large-scale increase in holdings attracted attention]
Changshi group (1113. HK) rose 1.04% to HK $53.4. According to the announcement, a company wholly owned by Li Ka Shing purchased 1982500 shares of Changshi at an average price of 524587 yuan, 524829 yuan and 523887 yuan per share on March 18, 21 and 23. The interest held by Li Ka Shing has increased from 45.5% to 46.5%.
[yimaitong’s net profit attributable to the parent decreased by more than 20% year on year]
Yimaitong (02192. HK) fell 24.08% to HK $8.23. The company’s annual performance in 2021. The annual revenue was 284 million yuan, a year-on-year increase of 33.2% the profit attributable to the owners of the parent company was 40.616 million yuan, a year-on-year decrease of 52.3% .
