00598 Overview

Market Performance: The Hang Seng Index (HSI) rose by 168 points (0.7%) to close at 26,027, while the Hang Seng Tech Index (HSTI) increased by 74 points (1.3%) to 6,007, with a total market turnover of $264.66 billion.

Active Heavyweights: Notable stock movements included PING AN (+2.9%), BABA (+2%), and TENCENT (+0.5%), while XIAOMI (-1.4%) and MEITUAN (-0.2%) saw declines.

HSI & HSCEI Constituents: Significant gainers included CHINA LIFE (+6.0%), BYD ELECTRONIC (+3.8%), and XPENG (+3.7%), whereas POP MART experienced a sharp decline of 8.1%.

HSMI & HSSI Constituents: DL HOLDINGS GP fell by 15.4%, while TIME INTERCON surged by 11.7%, indicating varied performance among smaller stocks.

Stock Ratings Overview: ZTO Express is rated Neutral with a target price decrease from USD 22 to 20, while Yunda and STO are rated Underperform with target price adjustments. JD Logistics and S.F. Holding are rated Buy, indicating positive outlooks.

Market Trends: The Chinese courier sector is currently lacking short-term catalysts, with SF Holding and JD Logistics identified as good entry points for investors.

Short Selling Activity: J&T Express and JD Logistics are experiencing significant short selling, with ratios of 14.673% and 8.004%, respectively, indicating bearish sentiment among investors.

Target Price Adjustments: HSBC Research has raised the target price for COSCO Ship Port to HKD 5.2 while downgrading China Merchants Port's rating to Reduce, reflecting changing market conditions.