Rally aborted? The three major Hong Kong stock indexes have divergent trends, with petroleum and coal stocks leading the way

Financial News Agency, April 25 (Editor Hu Jiarong) The three major Hong Kong stock indexes have divergent trends today.
As of the close, the Hang Seng Index rose 0.48% to close at 17284.54 points; the Technology Index fell 0.54% to close at 3554.3 points; the State-owned Enterprises Index rose 0.33% to close at 6120.37 points.
Note: The performance of the Hang Seng Index since Monday Today’s market From the perspective of market performance, oil, coal, pharmaceuticals, real estate stocks and other stocks were among the top gainers, while the Internet, which had previously risen continuously, experienced a correction.
Shanghai Petrochemical led the rise in oil stocks. Institutions expect oil prices to remain high in the medium to long term. As of the close, China National Petroleum Corporation (00702.HK), Shanghai Petrochemical Co., Ltd. (00338.HK), and PetroChina Co., Ltd. (00857.HK) rose 7.55%, respectively. 3.85%, 1.24%.
Note: Performance of oil stocks: In terms of news, Goldman Sachs raised its Brent crude oil price forecasts in the second half of 2024 and 2025 to US$86 and US$82 per barrel respectively (previous estimates were US$85 and US$80 respectively).
In addition, Shanghai Petrochemical announced its first quarter results yesterday, including operating income of 21.282 billion yuan, a year-on-year decrease of 3.2%.
Net profit attributable to shareholders was 84.06 million yuan, turning a loss into a profit year-on-year.
The trend of coal futures boosted the trend of related stocks. As of the close, South Gobi (01878.HK), Mongolian Coking Coal (00975.HK), and Yankuang Energy (01171.HK) rose by 12.79%, 6.67%, and 2.87% respectively.
Note: Performance of coal stocks: In terms of news, most domestic commodity futures closed higher, with the coking coal 2409 contract rising 2.12% to close at HK$1,804.5.
In addition, relevant reports pointed out that the fundamentals of supply and demand in the coke market have improved at this stage. The first round of increases in coke prices in this period has been implemented quickly, and some regions have started a second round of increases. Coke companies are strongly reluctant to sell, and market sentiment has recovered significantly. It is expected that coke prices will rise in the short term. Maintain a strong situation.
Pharmaceutical stocks continued their recent rebound, with Viva Biotech rising nearly 18%. As of the close, Viva Biotech (01873.HK), Biopharmaceuticals-B (02137.HK), and WuXi United (02268.HK) rose by 17.89% and 9% respectively. %, 5.37%.
Note: Performance of pharmaceutical stocks: In terms of news, Li Li, director of the State Food and Drug Administration, inspected relevant pharmaceutical companies in Shanghai from April 23 to 24, and hosted a symposium to listen to opinions and suggestions on the development of the biopharmaceutical industry.
He emphasized that pharmaceutical companies and drug regulatory authorities must work together to ensure safety and promote development.
Pharmaceutical companies must firmly establish the concept that quality is life, fully implement the main responsibilities, strengthen the investigation and rectification of hidden risks, increase investment in scientific research, talent introduction and training, create a good scientific research and innovation environment, and concentrate on carrying out cutting-edge basic research and core technology research in biomedicine. , and continuously improve innovation capabilities.
Institutions are optimistic about the recovery of China\’s real estate, with Xincheng Development rising nearly 10%. As of the close, Xincheng Development (01030.HK), Agile Group (03383.HK), and China Overseas Land & Development (00688.HK) rose 9.80%, 9.30%, and 6.26% respectively.
Note: Performance of real estate stocks In terms of news, at the beginning of 2021, UBS Greater China Real Estate Research Lead Analyst John Lam rarely gave a sell rating to China Evergrande Group, which once shocked the market.
Now, the analyst who was once bearish on Evergrande has begun to change direction, predicting that China\’s real estate market will gradually recover when many analysts still have doubts about China\’s real estate industry.
In addition, according to statistics from the China Index Research Institute, more than 30 cities have expressed their support for \”replacement of old with new\”.
More than 10 cities including Xuzhou, Zibo, and Nanjing have implemented this policy.
Soochow Securities said that policies for real estate companies and residents are being steadily advanced, and it looks forward to the gradual opening of real estate policies in more core cities in April and May to boost market demand and confidence.
Internet stocks ended several consecutive days of rebound. As of the close, Meitu Company (01357.HK), Meituan-W (03690.HK), and Tencent Holdings (007000.HK) fell 3.42%, 1.85%, and 1.39% respectively.
Note: Regarding the performance news of Internet stocks, although technology stocks have weakened today, Goldman Sachs strategists pointed out in the report that they are optimistic about consumer technology/Internet stocks because of a more favorable revenue growth environment and relatively better capital expenditures/costs. control.
The brokerage also noted continued focus on shareholder returns as both dividends and share buybacks reach all-time highs in 2023.
Southbound Funds Although the Hong Kong stock market did not continue to strengthen, southbound funds once again maintained a net inflow today, with the amount reaching HK$1.88 billion.
Since April, the cumulative southbound inflow has been HK$41.038 billion.
Note: The performance of southbound funds since April. Individual stock news and changes. [SenseTime resumed trading and rose nearly 4% and recently launched daily new 5.0 AI model] SenseTime-W (00020.HK) rose 3.75% to close at HK$0.83.
According to media reports, SenseTime officially launched the long-awaited Ririxin 5.0 model at a technical exchange meeting held on April 23, which is designed to compete with GPT-4 Turbo.
Driven by the news, SenseTime\’s share price surged by more than 30% in the previous day\’s trading, and trading was subsequently suspended.
Trading resumes today.
[Hisense Home Appliances once rose more than 7% after the results, and first-quarter net profit increased by nearly 60% year-on-year] Hisense Home Appliances (00921.HK) rose 4.20%, and once rose more than 7% during the session.
According to the announcement, the company’s operating income in the first quarter was 23.486 billion yuan, a year-on-year increase of 20.87%; the net profit attributable to the parent company was 981 million yuan, a year-on-year increase of 59.48%.
[Great Wall Motors rose more than 5% and net profit in the first quarter increased more than 17 times year-on-year] Great Wall Motors (02333.HK) rose 5.35% to close at HK$11.82.
In terms of news, the company released its first quarter results yesterday, including operating income of 42.86 billion yuan, a year-on-year increase of 47.60%.
The net profit attributable to shareholders of listed companies was 3.228 billion yuan, a year-on-year increase of 1752.55%.