(Original title: The three major Hong Kong stock indexes collectively closed down, Kuaigou Taxi rose nearly 40% against the trend)
Financial Associated Press, August 9 (Editor Hu Jiarong)The Hong Kong stock market continued to fluctuate, with only some sectors maintaining gains. Kuaigou Taxi (02246.HK) surged more than 30%, ending a 30-day losing streak.
As of the close, the Hang Seng Index fell 0.21% to close at 20003.44 points; the Hang Seng Technology Index fell 0.93% to close at 4295.24 points; the China Enterprises Index fell 0.39% to close at 6794.77 points.
Note: Hang Seng Index monthly K-line performance
For Hong Kong stocks to remain volatile, Zhongtai International pointed out that from the monthly K-line chart, the Hang Seng Index has been supported by more than 19,000 points for six consecutive months. The current forecast price-earnings ratio of the Hang Seng Index and the main board of Hong Kong stocks is lower than the ten-year average of 1.46 and 0.75 standards Poor, the valuation is more affordable. In addition, they also pointed out that the Fed will continue to raise interest rates above the neutral rate, which will bring liquidity constraints to Hong Kong stocks.
Industrial Securities International also pointed out that Hong Kong stocks remained weak, and the Hang Seng Index launched a long-short competition at 20,000 points. Market sentiment is heavier. The recent rebound of the Hang Seng Index was suppressed by the 5-day moving average, and the constraints of low liquidity continued. The Hong Kong dollar against the US dollar has been close to the weak-side guarantee since May. Overall, the weak pattern of the broader market has not changed, but the downward momentum has also weakened.
Kuaigou Taxi closed up nearly 40% after adjusting for 30 trading days
Kuaigou Taxi ended its decline since its listing in June. As of today’s close, it rose 37.15% to close at HK$6.94.
Note: The trend of Kuaigou Taxi today
Regarding the rebound of Kuaigou Taxi, according to data from Bank of China Securities, in June, the monthly activity of Kuaigou Taxi was close to 1.4 million, achieving single-digit growth month-on-month. In addition, Kuaigou Dache is the main online intra-city logistics platform in Asia. According to Frost & Sullivan data, the company will be the third largest intra-city logistics platform in China in terms of GMV in 2021.
In the disk, coal stocks and blue-chip real estate stocks led the market, while power stocks and education stocks led the decline.
- Among coal stocks, China Qinfa (00866.HK), SouthGobi-S (018778.HK) and China Coal Energy (01898.HK) rose 6.49%, 6.09% and 5.50% respectively.
Note: Performance of coal stocks
Regarding the strengthening of coal stocks, many institutions pointed out that there is room for a substantial increase in valuation under long-term high coal prices. For example, Cinda Securities said that from the perspective of capacity utilization during the peak summer period, it has now reached a high level of coal mine production and supply. , the supply side has no growth elasticity, and the demand for coal is still growing. Under the premise of no obvious economic recession, the tight coal supply and demand pattern will not fundamentally change.
At the same time, the International Energy Agency pointed out in the “July Coal Market Report” that global coal consumption in 2022 will rise slightly and is expected to return to the record level in the past decade.
- Among Hong Kong property stocks, New World Development (00017.HK), Sun Hung Kai Properties (00016.HK) and Cheung Kong Group (01113.HK) rose 2.49%, 2.13% and 2.03% respectively.
Note: Performance of Hong Kong property stocks
In terms of news, Ye Liu Shuyi, the convener of the Executive Council of the Hong Kong Special Administrative Region of China, told the media on the morning of Tuesday (August 9) that he would consider exempting double stamp duty for home buyers in mainland China. However, a spokesman for the Office of the Financial Secretary of the Special Administrative Region stated at noon that there were reports that the government was considering relaxing the stamp duty on properties.
- Among power stocks, China Resources Power (00836.HK), China Power (02380.HK) and Huaneng Power International (01071.HK) fell 4.39%, 1.84% and 1.98% respectively.
Note: Performance of power stocks
Following the surge in late trading yesterday, power stocks were sluggish today, perhaps with coal stocks strengthening, which also triggered some funds to sell off. At the same time, the relevant person in charge of the China Electricity Council recently stated that it is recommended to effectively increase the effective supply of thermal coal, strengthen the medium and long-term contract mechanism, and improve relevant policies to support the rescue of coal power companies.
Huaneng International Power Co., Ltd. announced on the evening of the 8th that the company has recently completed the issuance of the sixth tranche of medium-term notes (sustainably linked) of Huaneng International Power Co., Ltd. in 2022. The bond issue amount is RMB 2 billion, the term is 3 years, and the issue rate is 2.4%.
- Among education stocks, New Oriental-S (09901.HK), 21st Century Education (01598.HK) and China Education Holdings (00839.HK) fell 6.67%, 2.38% and 1.10% respectively.
Note: Performance of education stocks
In terms of news, affected by the adjustment of Chinese concept stocks last Friday, the trend of returning to Hong Kong concept stocks including New Oriental-S has been under pressure. At the same time, the company recently released its 2022 fiscal year results, of which the results for the fourth quarter ended May 31, 2022. , net revenue fell 56.8% year-on-year to $524 million; operating loss was about $106 million, a year-on-year increase of 3.2%.
At the same time, it was previously reported that Oriental Selection suffered from Douyin’s current limit. New Oriental Online responded to the market that it had not received the Douyin’s current limit notice. At present, the company is vigorously developing its own products, and the relevant content will be disclosed in the next financial report.
As of the close, New Oriental Online (01797.HK) rose 1.72% to close at HK$20.1.
Note: New Oriental Online’s trend today
Southbound funds flowed out for two consecutive trading days, with a net outflow of HK$597 million today. As of Tuesday, a total of 786 million outflows this week.
Note: Southbound capital trends this week
Market stock news and changes
[Jia Yao Holdings’ performance in the first half of the year turned losses into profits and its stock price rose by more than 20%]
Jia Yao Holdings (01626.HK) rose 33.77% to close at HK$1.03. According to the company’s performance forecast for the six months ended June 30, 2022, the net profit after taxation was about RMB 200,000 to RMB 3 million, while the six months ended June 30, 2021 saw a net loss of RMB 7.2 million Yuan.
[The stock price of China Graphite’s over-allotment option expired soared nearly 25%]
China Graphite (02237.HK) rose 24.56% to close at HK$0.71. According to the company’s announcement, the price stabilization period in relation to the Global Offering ended on August 7, 2022 (ie 30 days after the deadline for filing applications under the Hong Kong Public Offering), and there was no over-allocation of the International Offering Shares. At the same time, the company has benefited from the strong demand for power batteries in downstream new energy vehicles, energy storage and other fields, and the supply of power battery anode materials is in short supply. Industry insiders estimate that the demand for anode materials this year will be 1.2 million tons.
[China Real Estate’s net profit attributable to the parent in the first half of the year increased to 960 million, and the stock price rose by nearly 7%]
China Real Estate (00127.HK) rose 6.94% to close at HK$2.31. According to the company’s first-half results announced, it is expected that the profit attributable to shareholders in the first half of the year is HK$780 million to HK$960 million.