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The Hong Kong stock market once rose 665 points in the afternoon, breaking through the 22,500 mark. The technology index reached a nearly three-year high, while Xiaomi and SMIC pulled back.
The launch of the DeepSeek model has reignited investor interest in China's AI development. Anticipating that large AI modules in the mainland will make technological breakthroughs, Hong Kong stocks continued their upward trend from the previous day, opening 100 points higher this morning (13th). Supported by heavyweight technology stocks and AIA (01299.HK), the gains gradually expanded, with a rise of 665 points in the afternoon, reaching a high of 22,523, the highest in over four months. The latest report shows 22,308, up 450 points or 2.1%, with a transaction volume of 258.365 billion dollars. The Hang Seng Technology Index rose 4.2% in the afternoon, reaching a high of 5,503, the highest level in nearly three years since mid-February 2022, latest reported at 5.
Hong Kong Stock Afternoon Review | The Hong Kong stocks continue to rise! The Hang Seng Index surpasses the 22,000-point mark; Network Technology stocks and Medical stocks perform brilliantly, with Baidu up over 7% and ALI HEALTH rising more than 8%.
Network Technology stocks rose broadly, KUAISHOU-W increased by 7.49%, and Baidu Group-SW rose by 7.37%; Digital Health stocks all increased, ALI HEALTH rose by 8.18%, and JD HEALTH rose by 2.27%; Sporting Goods stocks all rose, LI NING increased by 3.91%, and ANTA SPORTS rose by 3.34%.
Hong Kong stocks have moved, with gaming stocks rising sharply. MGM CHINA has surged over 7% after its earnings report.
On February 13, according to Gelonghui, Macau Casino stocks continue to climb, with MGM China leading the way up over 7% after its earnings report, Sands China and MELCO INT'L DEV rising 4%, SJM HOLDINGS increasing by 3.8%, and GALAXY ENT and WYNN MACAU following suit. JPMorgan believes that Macau Casino stocks have been overly corrected (down 12% year-to-date while the Hang Seng Index is up 6%), yet it remains challenging to establish a bottom in market sentiment before the market expectations are fully reset. Currently, the bank continues to prefer GALAXY ENT and MGM CHINA. In the individual stock aspect, for the three months ending December 31, 2024, MGM Group's total revenue recorded 7.92 billion HKD.
MGM CHINA (02282.HK) rose over 6%, achieving a record high in adjusted EBITDA last year, while Sands Silver Entertainment is catching up.
MGM CHINA (02282.HK) opened 4.02% higher this morning (13th) and the increase expanded, reaching a high of 10.44 yuan. It is currently reported at 10.32 yuan, up 6.28%, with a trading volume of 6.2144 million shares, involving an amount of 63.6719 million yuan. MGM CHINA announced that its controlling shareholder, MGM International Hotel Group, recorded total revenue growth of 27.2% year-on-year to 31.387 billion yuan for the year ending last December based on international financial reporting standards; among which, revenue from MGM Macau rose 21.1% to 13.137 billion yuan, and revenue from Lion Pavilion MGM increased by 31.9%.
MGM CHINA (02282) rose 4.43%, leading the Macau Casino sector. Morgan Stanley indicates that Macau Casino stocks have been over-corrected.
Jinwu Financial News | MGM CHINA (02282) reported a year-on-year revenue growth of 27.15%, driving its stock price up by 4.43%, leading the Macau Casino sector. Additionally, MELCO INT'L DEV (00200) rose by 3.38%, SANDS CHINA (01928) increased by 3.65%, SJM HOLDINGS (00880) gained 3.43%, GALAXY ENT (00027) went up by 2.44%, and WYNN MACAU (01128) grew by 1.95%. JPMorgan believes that Macau Casino stocks have been overcorrected (down 12% year-to-date while the Hang Seng Index has risen by 6%), but the position will be built before the market expectations fully reset.
【Hong Kong Stock Connect】Sands China (01928) rose over 3% in early trading, considering the distribution of the final dividend next week. Morgan Stanley expects the group to outperform the market in the next 60 days.
Jinwu Financial News | Sands China (01928) saw its stock price rise in early trading, with a gain of 3.04% to HK$16.96 as of the time of reporting, with a trading volume of HK$61.8469 million. Morgan Stanley's report stated that it believes Sands China has over an 80% chance of outperforming the market in the next 60 days, with a Target Price of HK$21.5 and a rating of "Shareholding". The report indicates that the stock has recently been sold off, making its short-term valuation more attractive. Sands China recently announced the date for the Board of Directors meeting, marking the first use of the term "considering a proposal for the final dividend" since April 2020. Before the COVID-19 pandemic, similar announcements from Sands China typically included similar wording, but that is not the case thereafter.