KUFW TencentMBeCW240603
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Express News | Tencent spent approximately HKD 1.002 billion to repurchase 2.58 million shares on the 20th.
Tencent's 'New Game King' is launched.
Boycott Android channels.
Announcement | SenseTime plans to distribute approximately 1.67 billion shares at HKD 1.2 per share; China Power's total power sales in the first five months increased by 32.7%.
Tencent spent HKD 1,002 million to repurchase 2.58 million shares, with a repurchase price of HKD 385.5-392.0 per share; Meituan spent HKD 300 million to repurchase 2.5063 million shares, with a repurchase price of HKD 118.9-120 per share.
Hong Kong stock game track becomes a hot cake for public funds! Fund managers are crossing borders to layout.
Boosted by the better-than-expected recovery in the gaming industry and the high revenue generated by new summer game products, the Hong Kong stock technology index, which is heavily weighted in public funds, surged nearly 4% on June 19th.
Capital trend statistics for the Wise Hong Kong Stock Connect (T+2) on June 21st.
Capital trend of CITIC Hong Kong Stock Connect on June 21.
Active transactions for the Zhitong Hong Kong stock connect on June 20th.
Active trading of Hong Kong stock connect on June 20, 2024.
Inflow of 1.885 billion Hong Kong dollars into the tracker fund of Hong Kong
There were net inflows of Hong Kong dollars 1.885 billion, 653 million and 588 million into Tracker Fund of Hong Kong (02800.HK), CNOOC Limited (00883.HK) and Tencent Holdings Limited (00700.HK), respectively, while there was a net outflow of Hong Kong dollars 59.33 million from Semiconductor Manufacturing International Corporation (00981.HK). The highest net inflows of funds from the Hong Kong Stock Connect to active shares were Hong Kong dollars 1.27 billion into Tracker Fund of Hong Kong (02800.HK), while the highest net outflows of funds were Hong Kong dollars 79.68 million from China Mobile Limited (00941.HK). The highest net inflows of funds from the Shenzhen-Hong Kong Stock Connect to active shares were in CNOOC Limited.
Beishui bargain-hunting Hong Kong ETF, adding nearly HKD 600 million to Tencent; Nanshui sells Midea Group for over HKD 400 million.
On June 20th (Thursday), southbound funds net bought 7.531 billion Hong Kong dollars of Hong Kong stocks today. Saiceng Pharmaceutical and Semiconductor Manufacturing International Corporation were net sold 298 million Hong Kong dollars and 59.33 million Hong Kong dollars respectively.
Renminbi weakened in the market, and the Hang Seng Index retraced. CNOOC broke through the market trend.
After the Hang Seng Index rose 514 points or 2.9% yesterday (19th), the market retreated today (20th). The US stock market was closed for holidays overnight, and the UK stock market rose 0.2%, while the German and French stock markets fell 0.4% and 0.8%, respectively. At the time of writing, the yield on US 10-year bonds rose to 4.252%, the US Dollar Index rose to 105.5, Dow Jones futures rose 16 points or 0.04%, and Nasdaq futures rose 0.65%. The mid-point of the renminbi was lowered by 33 points to 7.1192 against the US dollar, a near seven-month low. The People's Bank of China announced that the one-year and five-year loan market quoted interest rates (LPR) for June were unchanged at 3.45%.
Hang Seng Index fell 95 points, central state-owned enterprises dividend index rose, while mainland real estate and domestic demand stocks fell.
The rise of the concept of Zhongtegu yesterday (19th) drove Hong Kong stocks to rise by 514 points. Hong Kong stocks fell today (20th), with the Hang Seng Index opening up 23 points, rising to 18,520 points in the early stage and then falling to 18,274 points, a drop of 95 points or 0.5% for the entire day; the state-owned enterprise red dividend ETF-related stocks fell by 31 points or 0.5%, closing at 6,556 points; the Hang Seng Technology Index fell by 64 points or 1.7%, closing at 3,767 points. The total turnover of the market for the entire day was HKD 103.555 billion, and the net inflow of southbound trading through the Shanghai and Shenzhen-Hong Kong Stock Connect was RMB 4.965 billion and RMB 4.51 billion.
Hong Kong stock market update: In the afternoon, the Hong Kong stock market fell further, with the Hang Seng Tech Index falling nearly 2%; Network technology and auto stocks performed poorly throughout the day, with Kuaishou falling more than 5% and Li Au
The three major indexes opened high and went low, presenting a one-sided decline all day. Hang Seng Tech Index fell sharply by 2% in the afternoon, eventually closing down 1.68%. The Hang Seng Index and the China Enterprise Index fell by 0.52% and 0.48% respectively, failing to continue the rising trend from yesterday.
Dahang Bank: Silver seeks to accelerate the gaming industry in the second half of the year. Tencent (00700.HK) is the preferred choice in the industry.
According to a report released by CMBI, a variety of highly anticipated gaming products are expected to launch in the second half of this year, driving a resurgence in the gaming industry. Tencent (00700.HK) is the preferred choice in the gaming industry, with an expected 10% year-on-year increase in game revenue for the second half of the year largely attributed to the increased contribution of Dungeon Fighter Online (DNF mobile game) and the continuous improvement of overseas game operations and commercialization, relying on its leading gaming research and development capabilities and overseas expansion capabilities. The bank also bullish on NetEase's (09999.HK) gaming business, with an estimated annual revenue growth in the second half of the year.
Express News | Financial institutions are relatively cautious in their IT spending this year, and the localization of securities and insurance products is accelerating.
Express News | DBS: Reiterates its target forecast for Hang Seng Index within the next 12 months to reach 20300 points and lists its preferred stocks.
DBS Bank: Reaffirms its target prediction of 20,300 points for the Hang Seng Index in the next 12 months, and lists its preferred stock names, including Ping An Insurance.
On June 20th, Glory Hui | DBS published a report on the Hong Kong stock market outlook in the second half of the year. Investors were actively discussing the impact of the domestic real estate market on the Chinese stock market. The bank acknowledged the significant impact of the real estate market on China's GDP and financial system stability, but also believed that with China's structural rebalancing, the real estate industry's impact on the Chinese economy is weakening. The bank believes that potential interest rate cuts and continued inflows of southbound funds will be favorable factors for the Hong Kong stock market in the second half of 2024. The bank reiterates its optimistic view on the Hong Kong stock market and predicts a basic scenario target of 20,300 points for the Hang Seng Index in the next 12 months (until June 2025).
Express News | BOCI Securities: Currently, Tencent and NetEase's gaming business and corresponding group valuations are quite attractive.
OCBC reaffirms Hang Seng Index target of 20,300 points and includes Ping An (02318.HK) as one of the top ten preferred stocks in Hong Kong.
DBS released a Hong Kong stock market outlook report for the second half of the year. Investors hotly debated the impact of the domestic real estate market on the Chinese stock market. The bank acknowledged the significant influence of real estate market on China's GDP and financial stability. However, the bank also believes that with the structural rebalancing of the Chinese economy, the impact of the real estate industry on the Chinese economy is weakening. The bank believes that potential interest rate cuts and sustained inflows of southbound funds will be conducive to the Hong Kong stock market in the second half of 2024. The bank reiterates its optimistic view of the Hong Kong stock market and predicts a Hang Seng Index target of 20,300 points in the baseline scenario for the next 12 months (until June 2025), with an expected EPS growth of 6.
KGI Asia expects the Hang Seng Index to reach the target of 20,900 points in the second half of the year and recommends Tencent (00700.HK), HKEX (00388.HK), Ping An Insurance (02318.HK), and other 11 stocks.
Kenji Wen, director of the Cathay Asia Investment Strategy Department, pointed out that based on the Hang Seng Index's low point this year at 14,794 points, the basic scenario is that the Hang Seng Index has a greater chance of reaching 20,900 points in the next six months, with a maximum potential increase of 22% in a year. In terms of valuation, the market expects earnings per share of Hang Seng Index constituent stocks to be HKD 2,045, up 7.5% annually. The predicted price-to-earnings ratio corresponding to 20,900 points is 10.22 times, which is still below the average price-to-earnings ratio of the Hang Seng Index over the past decade. Wen believes that the pattern of competition between bullish and bearish factors in the second half of this year will shift slightly towards bullish factors, including the property market.
In 'Dahang', Bank of China International: Currently, Tencent (00700.HK) and Netease (09999.HK) gaming business and respective group valuations are more attractive.
Bank of China International has released a report predicting that the domestic gaming market in China will be full of vitality this year, especially in the second half of the year, mainly due to the launch of various high-quality new games across multiple categories. At the same time, the bank believes that gaming policies in the second half of the year will remain stable and positive. However, the bank believes that in the current macro environment and intense market competition, domestic companies' strategies will focus on ensuring long-term stable operations, adopting side-user acquisition, user duration, activity, and retention-oriented operations; executing light commercial behavior; improving gross margins; and reasonably investing in game development and operation. The bank believes that Tencent (00700.HK) and NetEase
Suspension of Tencent's Mobile Game on Android Could Bode Well for Margins -- Market Talk
0303 GMT - The suspension of Tencent's Dungeon & Fighter mobile game on some Android channels could bode well for the gross margins of the Chinese technology company's value-added services, Citi analy