Hong Kong stocks resumed: the Hang Seng Index fell slightly before the North Water Festival

The main index fluctuated within a narrow range throughout the day and ended slightly lower. Near the holidays, the market sentiment was significantly cooled, and the market turnover fell to the lowest level in a month. Although tomorrow's Hong Kong stocks are temporarily closed due to the Spring Festival, today, Beishui still recorded a net inflow, indicating that the willingness to hold a shareholding during the holiday period is not weak.

The CICC strategy team said that the current round of HKD's callback is more of a twist in the market revaluation process, and does not mean a reversal of the trend. In fact, this adjustment has made the Hong Kong stock market more attractive, and there may be more room for rebound after the mood stabilizes.

From the perspective of market speculators, Hong Kong stocks fell 3,000 points last week, but the long-term derivatives and other long-term derivatives did not seem to have significantly retreated. According to HSBC data from third-party publishers, in the five trading days last week, there was still a net inflow of funds for long positions in the rounds led by Tencent and the HSI. At the same time, there was no significant increase in the short position of the license.

Industry insiders pointed out that the short-selling pressure from derivatives speculators will not become the main force that will intensify the decline in the future. And returning to the fundamentals, even in the United States to raise interest rates, the mainland's regulatory tightening and other major circumstances have not basically improved, but considering the HSI and the H- Share Index fell about 10% last week , any bad news The lethality will be greatly reduced.

Today's disk

In terms of heavy blue chips, AIA (01299.HK) rose 1.2%, contributing the most points to the HSI throughout the day. Tencent Holdings (00700.HK) edged up 0.5%, and once rebounded 3%.

The Hong Kong Stock Exchange (00338.HK) was basically flat, HSBC Holdings (00005.HK) fell 0.5%, and China Mobile (00941.HK) fell 0.8%. CNOOC (00883.HK) plunged 2.2%.

Chinese financial stocks are still in the doldrums, and most stocks have not rebounded significantly.

Industrial and Commercial Bank of China (01398.HK) fell 1.1%, while Bank of China (03988.HK) and China Construction Bank (00939.HK) closed flat. Among the insurance stocks, Ping An Insurance (02318.HK) rose 0.3% and Xinhua Insurance (01336.HK) rose 0.4%. China Life Insurance (02628.HK) fell to 1.1%.

Individual Chinese property stocks rebounded. Vanke (02202.HK) and China Resources Land (01109.HK) rose 1.8% and 1.6% respectively. Country Garden (02007.HK) oscillated to the flat. In addition, Shui On Land (00272.HK) tumbled 18.2%.

Mobile phone equipment stocks were relatively active, and Sunny Optical (02382.HK) rebounded and rose 3.5% throughout the day, making it the best performing HSI blue chip. AAC Technologies (02018.HK) fell 0.1%.

The auto sector rebounded significantly. Guangzhou Automobile Group (02238.HK) and BYD (01211.HK) rose 4.3% and 3.2% respectively. Geely Automobile (00175.HK) rose 2.8%, while Beijing Auto (01958.HK) rose 1.7. %.

Aviation stocks rebounded strongly, with Air China (00753.HK) soaring 5.7%, the best performing HSCEI stock. China Southern Airlines (01055.HK) and China Eastern Airlines (00670.HK) rose 5.2% and 3.6% respectively.

In addition, Shijiazhuang Group (01093.HK), with the approval of the approval of cancer drugs, rose 6.5%. The Board of Directors of CGN Power (01816.HK) approved the A-share listing plan, which is 1% throughout the day. Due to the violent performance, SMIC (00981.HK) plunged 9.1% to a low of more than four months.

On the last day before the festival, Beishui still recorded a net purchase. The net inflow of Hong Kong Stock Connect funds was 5.205 billion yuan, of which the net inflow of Hong Kong stocks (Shanghai) was 4.031 billion yuan, and the net outflow of Hong Kong stocks (deep) was 1.174 billion yuan.

Pessimism gradually dissipated mobile phone supplier shares "winter to spring"

Driven by the product shipment data of Qiu Ti Technology (01478.HK) in January, the mobile phone industry chain stock rebounded significantly throughout the day.

Qiu Ti Technology announced the shipment of its main products in January: 8 million pixels and below camera modules, shipments of 9.569 million, up 32.4% year-on-year; shipments of 10 million pixels and above camera modules 6.529 million Pieces, down 20.5% year-on-year; camera module shipments totaled 16.098 million, up 4.3% year-on-year. In terms of fingerprint identification module, the shipment volume was 9.696 million, an increase of 80% year-on-year.

Recently, according to foreign media reports, in order to ensure the supply of 3D sensing modules of FaceID system, Apple will add two Chinese suppliers this year.

The analysis pointed out that Apple's new machine in 2018 will determine the plan and supplier and share in March-March. After the information is gradually clear, the market begins to expect Apple's new machine in the second half of the year, and the company whose performance growth is determined will be favored by the funds.

It is reported that Apple plans to equip the three new iPhones that have not been released this year with the FaceID system. FaceID is a facial recognition system that is one of the iconic features of the iPhoneX. Industry insiders say it is rare to adopt Chinese suppliers on key components. Apple can sell more than 200 million iPhones a year, and its impact in the smartphone industry chain is very important.

At the same time, the agency expects that with the possible application of Huawei, Vivo and Xiaomi, the penetration rate of 3D glass will increase from the second quarter of 2018, and the full-screen and dual-camera design will be widely adopted in 2018.

Therefore, despite the relatively flat performance in the fourth quarter, and the market is worried about the slowdown in the smartphone industry, with the introduction of new models and technology upgrades, the industry expects smartphone shipments to resume in 2018.

From the data of the fourth quarter of last year announced earlier this month, Apple is still a very profitable company. Apple relies on memory and price strategies—that is, making money with ASPs in the same amount of money. In the quarterly report, Cook mentioned that iphone X is the best-selling model in the week since the launch of the new machine in November, breaking the negative factor of the worst iphone X sales in the market.

The market is overly concerned about the impact of sales on upstream suppliers. From the sales of iPhone, Tianfeng Securities is expected to continue to grow this year.

According to the tracking, we expect sales in the first quarter of this year to reach 55 million, compared with 50.76 million in the same period of last year, which is expected to increase by nearly 10% year-on-year. At the same time, the sales price of iPhoneX has increased by more than 20% this year, considering that 30% of the models are X. Then the actual price elasticity is around 6%, so Apple's first quarter revenue growth is expected to be around 16%.

Shen Wanhongyuan expects that the shipments of major domestic mobile phone manufacturers will continue to increase by more than 10% year-on-year in 2018, and industry concentration will further increase.

At present, face recognition, iris recognition and 3D sensing technology are one of the mainstream development directions of the next generation of smart device technology. The early deployment of relevant industry chain companies will win important opportunities for the development of smart phones for 3Dsensing.

Shen Wan Hongyuan recommends component manufacturers that offer a wide range of products because they are more resilient to potential price reductions for individual components. Optimistic about BYD Electronics International, Sunny Optical Technology and AAC Technologies.

And Gloen Hui in the "bottom-hunting series: the logic of the apple industry chain that has been shackled, has not changed? The latest resumption of the Apple concept stock was also made, and it is suggested that it can be actively deployed in the early spring:

If there is no more negative, the mobile phone industry chain will bottom out in the short term. Of course, it is not absolute. Because the first quarter results have not been announced, there is uncertainty, so the best strategy is to wait until March, the first quarter data release plus new product release. Beginning, the supply chain order begins to be determined. At this time, the opportunity for layout will appear.

Hong Kong stocks change (from the Gelonghui APP telegram, for more information, please click the original link to download the Gloem APP)

1. Aviation stocks rose across the board, Air China (00753.HK) led the gains

Under the spur of the Spring Festival, the renminbi is still strong, and the oil price has fallen for several days, the airline stocks in Hong Kong and A have risen across the board. In the A-share market, China Southern Airlines, Air China and Jixiang Airlines all increased by more than 3%.

In terms of Hong Kong stocks, Air China (00753.HK), China Southern Airlines rose 5.22% and Hangji shares (00357.HK) both rose more than 5%. Both Eastern Airlines and Cathay Pacific Airways rose more than 3%.

This year's Spring Festival transportation demand for civil aviation is strong. It is estimated that 65 million passengers will be transported, which is about 10% higher than that of the Spring Festival last year. At the end of the year, “workflow” and “student flow” brought pressure on civil aviation transportation to promote the price of air tickets. The RMB has appreciated by 3.2% year-to-date. As airlines have high dollar liabilities, the continued strength of the RMB will directly increase the exchange gains of aviation companies and increase their profits. The recent correction of oil prices (ICE oil has fallen 8% in February) also formed a positive effect on aviation stocks.

2, the performance of the major reduction institutions have dropped the target price of SMIC (00981.HK) volume fell 9.13%

Affected by poor performance, SMIC (00981.HK) today saw a heavy volume drop, closing at HK$8.86, down 9.13%, with a turnover of HK$1.376 billion and the latest total market capitalization of HK$43.6 billion.

The company announced on February 8 that for the three months ended December 31, 2017, the company realized revenue of 787 million US dollars, up 2.3% from the previous month and down 3.4% from the same period of last year. The profit attributable to the company's owners was 47.718 million US dollars, up 84.2% from the previous month. %, a year-on-year decrease of 54.1%.

According to the latest research report of Bank of Communications International, SMIC (00981.HK)'s guidance is not in line with expectations, lowering the target price to HK$9; Xiaoma's latest research report lowered SMIC (00981.HK) rating to “Reduce”, target The price dropped to HK$7.2; Dahe's latest research report lowered the target price of SMIC (00981.HK) to HK$9.5, rating “hold”; Citigroup lowered SMIC (00981.HK) rating to “sell”, target price Downgraded to HK$7.8; Bank of America Merrill Lynch SMIC (00981.HK) target price to HK$9, rating “underperform”; Credit Suisse lowered SGD (00981.HK) target price to HK$8, rating “Run Lose the big city."

Glonway published an in-depth analysis article on Sept. 7, 2017 (when the stock price was at its highest) . SMIC (981.HK): The meat grinder for value investors, this time, no exception. .

3, January excavator sales surged 135% China Longgong (03339.HK) led the rise in machinery stocks

Affected by the surge in excavator sales in January, machinery stocks showed a significant upward trend, with China Longgong (03339.HK) up 4.18%, the latest total market capitalization of HK$13.9 billion, and Sany International (00631.HK) up 2.91%. Zoomlion (01157.HK) gained 2.64%.

China Construction Machinery Industry Association Excavation Machinery Branch on February 7 data showed that in January 2018, a total of 10,687 types of excavation machinery products were sold, a year-on-year increase of 135%. At the same time, orders for large and medium-sized excavators of various brands are improving.

Analysts expect that with the start of the project after the Spring Festival, the excavator will continue its hot sales at the end of 2017, and sales in March-April are expected to exceed expectations.

4. The registration of paclitaxel for injection of drugs was approved by Shijiazhuang Group (01093.HK), which rose 6.53%.

Affected by the positive approval of the drug registration approval issued by the State Food and Drug Administration of China, Shijiazhuang Group (01093.HK) today surged to close at HK$16.64, up 6.53%, with a turnover of HK$644 million. The latest total market value HK$103.9 billion.

Yesterday, Shijiazhuang Group (01093.HK) announced that the “Isolation Paclitaxel (Albumin Binding)” developed by the Group has been approved by the State Food and Drug Administration of China for approval of the drug registration. This is the second batch approved by the Group. Tumor nanomedicine, the approval of this product will further enrich the Group's product line and contribute to the Group's development in the field of oncology.

In addition, Nomura recently granted a “Buy” rating to Shijiazhuang Group (01093.HK), raising its target price to HK$23.7. According to the current 40% upside potential, HSBC Securities also raised the price of Shijiazhuang Group (01093) to HK$20.2 .

5. Copper price rises and is expected to be included in the mixed list. Minmetals Resources (01208.HK) rose 8.42%

Minmetals Resources (01208.HK) today's share price rose significantly, closing at 5.15 Hong Kong dollars, up 8.42%, turnover of 247 million Hong Kong dollars, the latest total market value of 41 billion Hong Kong dollars.

The latest ranking of global copper production is fresh, and Minmetals Resources (1208.HK) has successfully entered the top ten, ranking eighth, jumping three places from 2016. Coupled with the recent strong rebound in LME copper prices, it will have a positive impact on Minmetals resources. In addition, the list of the third batch of pilot enterprises for reform of state-owned enterprises has not yet been made public, but it is revealed that the new batch of mixed-reform pilots cover seven major fields of electricity, oil, natural gas, railway, civil aviation, telecommunications and military. At the recent 2018 annual work conference, power, oil, natural gas, railway, civil aviation, telecommunications, military and other seven central enterprises have clearly defined the mixed reform plan, and Minmetals Group is in it, I believe that the mixed information will be able to Further play a boosting role.

In addition, Goldman Sachs raised its target price for Minmetals Resources (01208) from HK$5 to HK$7.2, maintaining a “Buy” rating. The bank raised its profit forecast for Minmetals last year by 16%, and its earnings forecast for the next two years was raised by 33% and 31%, respectively, to reflect the latest copper price forecast for the London Metal Exchange (LME). The bank believes that Minmetals resources are most benefited from copper prices. It is expected that free cash flow will be between US$1.3 billion and US$1.8 billion in the next two years, and the debt ratio will be reduced to 1.2 times in 2020.

6, Haier Electric (01169.HK) rose 6.69% in consumer stocks such as home appliances

Today, consumer stocks such as home appliances in the two places rebounded significantly. Haier Electronics (01169.HK) was higher, closing at HK$26.3, up 6.69%, and the latest total market value was HK$73.7 billion.

Haier Electric's three core assets are washing machines, water heaters, and Rishun Logistics. From the perspective of ownership structure, Haier Group holds Qingdao Haier and Qingdao Haier holds Haier Electric (01169.HK).

Since last year, the price of white goods terminals has risen sharply, and Haier's brand share has continued to increase. China Gold this month's research report pointed out that the company will continue to exert efforts in the high-end market of washing machines to seize the market share of foreign brands. At the same time, the company's logistics business is expected to be listed separately in the future. In addition, since the beginning of the year, the renminbi has continued to appreciate, and consumer stocks including Haier Electronics (01169.HK) have also benefited.

7. Chaowei Power (00951.HK) surged 16.15% to lead the Hong Kong stock battery segment

Benefiting from the new energy vehicle sales in January, the Hong Kong stocks power battery sector was generally good today. Chaowei Power (00951.HK) led the battery stocks to close at HK$5.25, up 16.15%, with a turnover of HK$216 million. The market value is HK$5.817 billion. In addition, BYD Electronics (00285.HK) rose nearly 7%, Tianneng Power (00819.HK) and BYD (01211.HK) both rose more than 3%, and Wulong Electric Vehicle (00729) rose more than 1%.

According to data released by the China Association of Automobile Manufacturers, in January 2018, domestic automobile sales reached 2.81 million units, an increase of 11.59% year-on-year. Among them, the new energy vehicle market ushered in a good start, with a total sales of 38,500 units, a year-on-year increase of 4.3 times. Analysts believe that 2018 will be a key year for the development of new energy auto industry. As government procurement is gradually reduced, the entire industry will collaboratively explore and cultivate market-based demand for new energy vehicle terminals.

8. Shui On Land (00272.HK) plunged 18.22%. It does not intend to discuss privatization financing with banks.

Shui On Land (00272) today's share price plummeted to close at HK$2.11, down 18.22%, with a turnover of HK$322 million and a new market value of HK$17 billion.

Last Friday, Shui On Land (00272) announced that on February 9, 2018, the company's share price and transaction volume rose inexplicably. The company reiterated that there is no clear plan for the company's equity. In addition, in view of the recent turmoil and instability in the stock and bond markets, the company has no intention to further discuss with the banks about the financing of potential privatization plans, and no recommendations have been submitted to the company.

Hong Kong Stock Connect

From the performance of Hong Kong stocks through the rise and fall of individual stocks

The top five stocks in the Hong Kong stock market today are People Financial Technology (00279.HK), Chaowei Power (00951.HK), Li Ning (02331.HK), Hengteng Network (00136.HK), Kingsray Biotech (01548.HK);

The top five stocks in the Hong Kong stock market today were Shui On Land (00272.HK), SMIC (00981.HK), FIT HON ​​TENG (06088.HK), Datang Power (00991.HK) and HC Network (02280). .HK).

Looking at the flow of funds from Hong Kong Stock Connect

The top ten stocks of Hong Kong Stock Connect (Shanghai) today are Tencent Holdings, HSBC Holdings, Industrial and Commercial Bank, SMIC, Ping An, Ping An, China Merchants Bank, China Construction Bank, Geely Automobile, Agricultural Bank, and AAC. Among them, the largest net inflow of shares was Tencent Holdings, with a net inflow of HK$580 million; the largest net outflow was Agricultural Bank with a net outflow of HK$193 million.

Today, the top ten stocks of Hong Kong Stock Connect (Deep) are Tencent Holdings, Kingsray Biotech, SMIC, Chaowei Power, ZTE, Sunac China, Hong Kong Exchange, China Ping An, ICBC, Goldwind Technology. The largest net inflow of shares was Tencent Holdings, with a net inflow of HK$246 million; the most net outflow was Goldwind, with a net outflow of HK$9.92 million.

Hong Kong Stock Connect funds flowed into the financial sector. Ping An, HSBC, ICBC, China Merchants Bank and China Construction Bank each bought 488 million Hong Kong dollars, 322 million Hong Kong dollars, 356 million Hong Kong dollars, 172 million Hong Kong dollars and 222 million Hong Kong dollars.