<Midday Update> HSI Rises by 385 Points; HSTI Gains 55 Points; PING AN Surges Over 4%; YUM CHINA, LI NING, SHK PPT, BOC HONG KONG, and ZTO EXPRESS-W Reach New Peaks
Market Performance: The HSI rose by 385 points (1.5%) to 26,945, while the HSTI and HSCEI also saw gains of 55 points (1.0%) and 111 points (1.2%) respectively.
Active Heavyweights: Notable stocks included PING AN (+4.1%), HKEX (+2.8%), and BABA (+1.9%), with significant short selling activity reported for each.
Top Gainers: INNOVENT BIO and POP MART led the gains among HSI & HSCEI constituents, rising by 5.9% and 5.8% respectively, while KUAISHOU-W experienced a notable decline of 4.3%.
Significant Movements: CHINA EAST EDU and CHINA LIT saw substantial increases of 11.9% and 10.1%, while REALORD GROUP faced a significant drop of 10%.
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<HK Home>SHK PPT Reports Over 10% Increase in Foot Traffic and Sales at New Town Plaza During Lunar New Year
Stock Performance: SHK PPT (00016.HK) saw a 3.169% increase in stock price, with significant short selling activity amounting to $530.86M and a ratio of 42.548%.
Promotional Activities: The company invested over HKD10 million in Lunar New Year promotions at New Town Plaza, featuring pet-friendly floral installations to attract visitors.
Tourism Impact: The Lunar New Year holiday, combined with new travel policies, led to a 10% increase in foot traffic and a 12% rise in sales for tenants at the mall.
Benefiting Sectors: Key sectors that experienced growth during this period included dining, fashion, beauty, electronics, and jewelry & watches.
<Full-day Summary> HSI Gains 668 Points; HSTI Rises 173 Points; MEITUAN Increases by Over 5%; BABA and XIAOMI Both Up Over 3%; LI NING, TECHTRONIC IND, SINOPHARM, SHK PPT, and HENDERSON LAND Reach New Peaks; Market Turnover Increases
Market Performance: The Hang Seng Index (HSI) rose by 668 points (2.5%) to close at 27,081, with significant gains also seen in the HSTI and HSCEI, which increased by 3.3% and 2.7% respectively, and a market turnover of $172.96 billion.
Top Gainers: Notable heavyweights included Meituan (+5.3%), Alibaba (+3.5%), and Xiaomi (+3.4%), all experiencing substantial increases in their stock prices along with significant short selling activity.
HSI & HSCEI Constituents: Companies like Zijin Mining (+5.3%), SMIC (+5.0%), and BYD Company (+4.7%) showed strong performance, with many stocks hitting new highs and notable short selling ratios.
HSMI & HSSI Highlights: Stocks such as Rept Battero (+15.4%) and Country Garden (+12.1%) saw remarkable increases, indicating a positive trend in smaller market segments.
<Midday Update> HSI Rises by 605 Points; HSTI Gains 173 Points; MEITUAN Surges Over 6%; BABA and TENCENT Both Increase by Over 3%; SHK PPT, TECHTRONIC IND, LI NING, HANG LUNG PPT, and HENDERSON LAND Reach New Peaks
Market Performance: The Hang Seng Index (HSI) rose by 605 points (2.3%) to 27,019, while the Hang Seng Tech Index (HSTI) increased by 173 points (3.3%) to 5,384, and the Hang Seng China Enterprises Index (HSCEI) gained 224 points (2.5%) to 9,183.
Top Gainers: Major stocks like Meituan, Alibaba, and Tencent saw significant increases, with Meituan up 6.9% to $86.35, Alibaba up 3.6% to $152.4, and Tencent up 3.4% to $539.5.
Notable Movers: Other notable stocks included Zijin Mining (+5.3%), SMIC (+4.5%), and JD (+4.2%), all experiencing substantial gains and varying levels of short selling.
Short Selling Activity: The short selling ratios for several stocks were high, with Xiaomi at 47.8%, CCB at 34.9%, and Li Ning at 43.2%, indicating significant market speculation on these companies.
<Study>JPM Ratings and Target Prices for Developers (Table)
SHK PPT Performance: SHK PPT shares increased by 3.76%, with a short selling ratio of 39.4%. Analysts upgraded the stock rating from Neutral to Overweight, raising the target price from HK$109 to HK$162.
CK Asset Update: CK Asset shares rose by 1.03%, with a short selling ratio of 35.8%. The stock remains rated Neutral, with a target price increase from HK$41 to HK$48.5.
Henderson Land Insights: Henderson Land shares saw a 1.90% increase, with a high short selling ratio of 53.3%. The stock is rated Overweight, with a target price adjustment from HK$33 to HK$39.
New World Development and Sino Land: New World Development shares increased by 2.32% and are rated Neutral, with a target price rise from HK$9.5 to HK$10.7. Sino Land shares also rose by 1.33%, rated Overweight, with a target price increase from HK$12.5 to HK$14.5.
JPM Increases HK Home Price Growth Prediction for This Year to 10-15% and Upgrades SHKP to Overweight Rating
JPMorgan's Revised Forecast: JPMorgan has increased its forecast for Hong Kong home prices from 5%-7% to 10%-15% for this year, with an additional expected rise of about 5% next year, indicating a shift to an "expansion" phase in the market.
Valuation Changes: The broker noted a transition in valuation metrics from "dividend yield" to "NAV discount" in the current bull market, leading to an upgrade of SHK PPT to Overweight with a target price of HKD162.
Optimism for Other Developers: JPMorgan expressed positive outlooks for SINO LAND and HENDERSON LAND, highlighting SINO LAND as suitable for yield-seeking investors and suggesting a better entry point for HENDERSON LAND around mid-March.
Target Price Adjustments: The broker raised target prices for Hong Kong developers it covers by 13-49%, reflecting overall optimism in the sector.
<Daily Summary> HSI Falls 292 Points; HSTI Declines 156 Points; BABA Drops More Than 4%; XIAOMI Decreases Over 3%; HENDERSON LAND, MIDEA GROUP, CNOOC, HANG LUNG PPT, SHK PPT Reach New Peaks; Market Activity Increases
Market Performance: The Hang Seng Index (HSI) fell by 292 points (1.1%) to close at 26,413, while the Hang Seng Tech Index (HSTI) dropped 156 points (2.9%) to 5,211, with a total market turnover of $165.37 billion.
Declining Heavyweights: Major stocks like Alibaba, Xiaomi, Tencent, and Meituan experienced significant declines, with Alibaba down 4.9% and Xiaomi down 3.5%, reflecting a broader trend of short selling in the market.
Notable Movers: JD Health and Baidu saw substantial drops of 6.3%, while Beigene and PetroChina gained 4.2% and 3.7%, respectively, indicating mixed performance among HSI and HSCEI constituents.
High Performers in Smaller Stocks: Stocks like DOBOT and GUOFUHEE surged by over 17%, showcasing strong gains in smaller companies despite the overall market downturn.
<HK Home>SHK PPT Reports Over 10% Increase in Foot Traffic and Sales at New Town Plaza During Lunar New Year
Stock Performance: SHK PPT (00016.HK) saw a 3.169% increase in stock price, with significant short selling activity amounting to $530.86M and a ratio of 42.548%.
Promotional Activities: The company invested over HKD10 million in Lunar New Year promotions at New Town Plaza, featuring pet-friendly floral installations to attract visitors.
Tourism Impact: The Lunar New Year holiday, combined with new travel policies, led to a 10% increase in foot traffic and a 12% rise in sales for tenants at the mall.
Benefiting Sectors: Key sectors that experienced growth during this period included dining, fashion, beauty, electronics, and jewelry & watches.
<Full-day Summary> HSI Gains 668 Points; HSTI Rises 173 Points; MEITUAN Increases by Over 5%; BABA and XIAOMI Both Up Over 3%; LI NING, TECHTRONIC IND, SINOPHARM, SHK PPT, and HENDERSON LAND Reach New Peaks; Market Turnover Increases
Market Performance: The Hang Seng Index (HSI) rose by 668 points (2.5%) to close at 27,081, with significant gains also seen in the HSTI and HSCEI, which increased by 3.3% and 2.7% respectively, and a market turnover of $172.96 billion.
Top Gainers: Notable heavyweights included Meituan (+5.3%), Alibaba (+3.5%), and Xiaomi (+3.4%), all experiencing substantial increases in their stock prices along with significant short selling activity.
HSI & HSCEI Constituents: Companies like Zijin Mining (+5.3%), SMIC (+5.0%), and BYD Company (+4.7%) showed strong performance, with many stocks hitting new highs and notable short selling ratios.
HSMI & HSSI Highlights: Stocks such as Rept Battero (+15.4%) and Country Garden (+12.1%) saw remarkable increases, indicating a positive trend in smaller market segments.
<Midday Update> HSI Rises by 605 Points; HSTI Gains 173 Points; MEITUAN Surges Over 6%; BABA and TENCENT Both Increase by Over 3%; SHK PPT, TECHTRONIC IND, LI NING, HANG LUNG PPT, and HENDERSON LAND Reach New Peaks
Market Performance: The Hang Seng Index (HSI) rose by 605 points (2.3%) to 27,019, while the Hang Seng Tech Index (HSTI) increased by 173 points (3.3%) to 5,384, and the Hang Seng China Enterprises Index (HSCEI) gained 224 points (2.5%) to 9,183.
Top Gainers: Major stocks like Meituan, Alibaba, and Tencent saw significant increases, with Meituan up 6.9% to $86.35, Alibaba up 3.6% to $152.4, and Tencent up 3.4% to $539.5.
Notable Movers: Other notable stocks included Zijin Mining (+5.3%), SMIC (+4.5%), and JD (+4.2%), all experiencing substantial gains and varying levels of short selling.
Short Selling Activity: The short selling ratios for several stocks were high, with Xiaomi at 47.8%, CCB at 34.9%, and Li Ning at 43.2%, indicating significant market speculation on these companies.
<Study>JPM Ratings and Target Prices for Developers (Table)
SHK PPT Performance: SHK PPT shares increased by 3.76%, with a short selling ratio of 39.4%. Analysts upgraded the stock rating from Neutral to Overweight, raising the target price from HK$109 to HK$162.
CK Asset Update: CK Asset shares rose by 1.03%, with a short selling ratio of 35.8%. The stock remains rated Neutral, with a target price increase from HK$41 to HK$48.5.
Henderson Land Insights: Henderson Land shares saw a 1.90% increase, with a high short selling ratio of 53.3%. The stock is rated Overweight, with a target price adjustment from HK$33 to HK$39.
New World Development and Sino Land: New World Development shares increased by 2.32% and are rated Neutral, with a target price rise from HK$9.5 to HK$10.7. Sino Land shares also rose by 1.33%, rated Overweight, with a target price increase from HK$12.5 to HK$14.5.
JPM Increases HK Home Price Growth Prediction for This Year to 10-15% and Upgrades SHKP to Overweight Rating
JPMorgan's Revised Forecast: JPMorgan has increased its forecast for Hong Kong home prices from 5%-7% to 10%-15% for this year, with an additional expected rise of about 5% next year, indicating a shift to an "expansion" phase in the market.
Valuation Changes: The broker noted a transition in valuation metrics from "dividend yield" to "NAV discount" in the current bull market, leading to an upgrade of SHK PPT to Overweight with a target price of HKD162.
Optimism for Other Developers: JPMorgan expressed positive outlooks for SINO LAND and HENDERSON LAND, highlighting SINO LAND as suitable for yield-seeking investors and suggesting a better entry point for HENDERSON LAND around mid-March.
Target Price Adjustments: The broker raised target prices for Hong Kong developers it covers by 13-49%, reflecting overall optimism in the sector.
<Daily Summary> HSI Falls 292 Points; HSTI Declines 156 Points; BABA Drops More Than 4%; XIAOMI Decreases Over 3%; HENDERSON LAND, MIDEA GROUP, CNOOC, HANG LUNG PPT, SHK PPT Reach New Peaks; Market Activity Increases
Market Performance: The Hang Seng Index (HSI) fell by 292 points (1.1%) to close at 26,413, while the Hang Seng Tech Index (HSTI) dropped 156 points (2.9%) to 5,211, with a total market turnover of $165.37 billion.
Declining Heavyweights: Major stocks like Alibaba, Xiaomi, Tencent, and Meituan experienced significant declines, with Alibaba down 4.9% and Xiaomi down 3.5%, reflecting a broader trend of short selling in the market.
Notable Movers: JD Health and Baidu saw substantial drops of 6.3%, while Beigene and PetroChina gained 4.2% and 3.7%, respectively, indicating mixed performance among HSI and HSCEI constituents.
High Performers in Smaller Stocks: Stocks like DOBOT and GUOFUHEE surged by over 17%, showcasing strong gains in smaller companies despite the overall market downturn.
