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Hong Kong Stock Afternoon Review | The three major indices strengthened, and the Tech Index rose nearly 3%; TechNet stocks had the highest gains, with Kuaishou up more than 7% and Meituan up more than 6%
Auto stocks had mixed ups and downs. NIO rose more than 5%, Ideal Auto fell more than 3%; many copper stocks fell, and China's nonferrous mining and mining resources fell nearly 3%.
Express News | China Resources Drinks (Holdings) Co., Ltd. submitted a listing application to the Hong Kong Stock Exchange. The co-sponsors are Bank of America Securities, Bank of China International, CITIC Securities, and UBS Group.
A quick look at the Hong Kong market | The three major indices have risen one after another. Technet stocks have generally risen, Tencent and Meituan have risen by more than 5%; Ideal has fallen by more than 8%
Many coal stocks fell sharply; Mongolian coking coal and China Coal Energy fell more than 6%; petroleum stocks fell, CNOOC Services fell more than 3%, and CNPC fell nearly 3%.
Hong Kong Stock Concept Tracking | Valuation has reached the bottom of history, and institutions are optimistic about the beer industry improving (with concept stocks)
Benefiting from post-pandemic demand recovery, China's beer industry produced 35.555 million kiloliters (yoy +0.3%) in 2023, but there is still a gap compared to 2019. Judging from the price point of view, the upgrading trend in China's beer industry is slowing down or not downgrading, and the gross sales gap of enterprises continues to rise. In 2023, the number of domestic catering companies cancelled nearly 1.3 million, more than double that of 2022. The ready-to-drink scene is recovering slowly as the main position for upgrading the beer structure, compounding the pressure on overall consumption power. The high-end trend has slowed down, but the mid-tier products of wine companies have maintained good growth. The tonnage prices of major domestic wine companies all achieved low to medium single-digit growth in 2023
Intraday Overview | The three major indices all rose more than 2%! Tencent and Meituan increased by about 5%
TechNet stocks strengthened, with Kuaishou, JD, and NetEase up about 4%, and Bilibili and Alibaba about 3%.
Changes in Hong Kong stocks | China Resources Breweries (00291) rose nearly 7%, leading the beer stock industry is about to break out of a high sales base, institutions say the peak season is worth looking forward to
Beer stocks picked up in early trading. As of press release, China Resources Brewery (00291) rose 6.81% to HK$34.5; Tsingtao Brewery shares (00168) rose 5.73% to HK$54.4; and Budweiser Asia Pacific (01876) rose 2.99% to HK$10.34.
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