China Mobile surges more than 9% to hit new record high
China’s three largest telecoms operators continued to rally on Monday, with China Mobile surging more than 9% hit 97.87 yuan at one
Category: STOCKS
Hong Kong stocks rallied, tech, infrastructure, oil and gold firms rallied
Hong Kong stocks rallied as the impact of the Silicon Valley Bank’s collapse is easing, Premier Li Qiang’s speech lifted market confidence and the Chinese yuan strengthened sharply against the US dollar amid expectation of slower rate hikes by the US Federal Reserve.
Chinese property developers slide in Hong Kong on plunging new mortgage loans in Feb from prior month, major developers’ loss warnings
Shares of Kaisai Group tumbled 25% in Hong Kong, Ronshine China sliding more than 11%, Powerlong down more than 4%, CIFI Holdings down nearly 4%, Times China down nearly 3%.
Shares of Chinese automakers slide on concerns of price war
Chinese automakers are sliding in Hong Kong, with Geely Auto sliding 5.4% as of 9:43 am local time, BYD Company down 5%, Nio, Great Wall Motor and Li Auto down more than 4% and Xpeng Motors down 3.3%.
Macquarie raised target price of China Unicom, lowered rating from Outperform to Neutral
Macquarie said it’s positive about China Unicom’s strong performance in industry internet, which grew 29% in 2022 from the previous year and accounting for 20% of its total revenue.
JPMorgan raised forecast of Sinopec, PetroChina, CNOOC’s dividend payment ratio, hiked target prices
JPMorgan raised the forecast of Sinopec, PetroChina, and CNOOC’s dividend payout ratios to 80%, 60%, and 50%, respectively, from previous estimates of 75%, 45%, and 40%.
Goldman Sachs cut target price of HKEX, kept it on Conviction Buy list
Goldman Sachs cut target price of HKEX by 1% to HK$437 from HK$441, but kept it on Conviction Buy list.
BofA Securitises downgrades Chow Tai Fook to Underperform, cut target price
BofA Securities downgraded Chow Tai Fook, one of the world’s largest jewellery retailers, from Neutral to Underperform, and cut its target price from HK$17.6 to HK$13.2.
TVB shares hit three-year high after starting live-streaming e-commerce business
Hong Kong broadcaster TVB’s parent company, Television Broadcasts Limited, continues surging on Wednesday, jumping as much as over 97% to hit HK$14.36
Country Garden Services tumbled nearly 5% after profit warning
Country Garden Services tumbles as much as 4.8% to hit HK$14.6 in Hong Kong, bringing its market value below HK$50 billion.
Non-ferrous metal companies slide in Hong Kong after Powell’s hawkish comments
Shares of non-ferrous metal companies are sliding across the board in Hong Kong, with China Minmetals plunging 5%, Zhaojin Mining down 4%, China National Gold International and Zijin Mining down 2%, and Shandong Gold, Aluminum Corporation of China, and Luoyang Molybdenum down 1%.
Chinese oil companies stage strong rally, CNOOC hit new record high for second straight day
Chinese oil companies stage a strong rally, with CNOOC surging by more than 5% to hit a new record high of HK$12.68, while its Shanghai-listed shares jumping by the daily limit of 10% to hit an all-time high of 18.92 yuan at one point.
China’s passenger car retail sales slid 21% on year in Jan – Feb, NEV sales rose 23% – industry body
China’s retail sales of passenger cars in the first two months reached 2.657 million units, sliding 21% from a year earlier, according to an industry association.
Tencent-backed autonomous driving startup Momenta considers Hong Kong or US IPO as soon as this year – report
The company is anticipating to raise a maximum of $1 billion through the listing and the firm is working with financial advisors on the possible deal.
Hong Kong Stock Exchange to lower listing threshold for special technology companies – report
The Hong Kong Exchanges and Clearing plans to lower the proposed listing threshold for Specialist Technology Companies, local newspaper South China Morning Post reported citing people with the knowledge of the matter, in a move to keep the city’s attractiveness as IPO destination.
Goldman Sachs slightly raised target price of Bilibili to HK$200 from HK$197, reiterating Neutral rating
Goldman Sachs slightly raised target price of Bilibili to HK$200 from HK$197, reiterating Neutral rating
China’s retail performance index picks up in March as epidemic control normalizes
The China Retail Performance Index (CRPI) compiled by the China Commercial Federation reached 50.6% in March, up 0.3 percentage points from the previous month.
China’s three state oil giants rally on expectation of higher demand, CNOOC hit record high
Shares of China National Offshore Oil Corporation (CNOOC) gains 3.5% to close at HK$11.98, marking a new record high. Sinopec gain 3.5%
Lenovo hit highest since May 2022 on recovery outlook, net buying by mainland investors
Shares of Lenovo Group continued to rise in Hong Kong, surging over 5% to hit HK$ 7.7 at one point, marking a new high since May 2022.
JD.com shares gain after launching “10 billion yuan subsidy” campaign
Chinese e-commerce giant JD.com gained as much as 3.2% to hit HK$190.7 after launching 10 billion subsidy campaign JD.com officially launched the
Country Garden Services’ shares tumble after issuing warning of up to 57% drop in 2022 net profit
Shares of Country Garden Service are slumping more than 10% in Hong Kong, after issuing profit warning.
Chinese coal miners’ shares slide across the board on falling coal prices
Shares of Chinese coal companies slide across the board in the A-share market, with Shanxi Coking Coal sliding 5.3% as of 10:40
Hong Kong broadcaster TVB hit new high since May 2021 on live-streaming cooperation with Alibaba’s Taobao
Shares of Hong Kong broadcaster TVB surge 36% to hit new high since May 2021 on live-streaming cooperation with Taobao Shares of
Chinese telecommunication equipment companies rally after industry minister vowed to accelerate 6G development
Jin Zhuanglong, China’s Minister of Industry and Information Technology, said China has built the world’s largest and most advanced 5G network, with
China’s telecom operators continue rallying, China Mobile hit record high
China’s telecom operators continue rallying on Monday, with China Mobile surging as much as 7.6% in Shanghai to hit a new record high of 93.59.
Chinese aerospace, defence stocks rally as government plans to boost defence spending by 7.2% this year
Chinese aerospace and defence stocks rally on Monday, with an index tracking the sector compiled by Wind Information up 1.3% as of
HKEX considers lowering listing valuation requirement for specialised tech firms – report
The Hong Kong Exchanges and Clearing is adjusting some of the consultation advice content, including potentially lowering the valuation requirement for commercialized
China Vanke shares hit new lows since Nov 2022 on 300 million new share placement at 6% discount
Shares of property developer China Vanke are sliding more than 5% in Hong Kong, while its Shenzhen-listed shares are down more than
Kuaishou applied for yuan counter to support Hon Kong dollar-yuan dual counter model
Chinese short video platform Kuaishou Technology said it has submitted an application for an yuan counter to support the new Hong Kong
China’s telecom companies continue to rally on the country’s digital development plan
China’s top telecommunication operators continue to rally, with an index tracking the sector compiled by Wind Information surging by more than 6.5%, making it the best-performing sector in the A-share market.