Market News

The weakening of science and technology stocks dragged down Hong Kong stocks today (5). AAPL.US was fined 1.8 billion euros by the European Union to dilute its share price. Tesla (TSLA.US)'s Chinese sales fell nearly 20% last month and its share price fell more than 7%. The US Dow and Nasdaq fell 0.25% and 0.4% respectively on the 4th, while the Nasdaq Jinlong China Index also fell nearly 4%. At the time of writing, the yield on US 10-year bonds fell to 4.197 per cent, the US exchange rate index rose to 103.93, Dow futures fell 81 points, or 0.2 per cent, and Nasdaq futures fell 0.6 per cent. Premier Li Qiang proposed a GDP growth target of about 5 per cent this year in his government work report to the National people's Congress this morning. The Shanghai Composite Index rose 8 points, or 0.28%, to close at 3047 points, while the Shenzhen Composite Index fell 0.2%, while the turnover on the Shanghai and Shenzhen stock markets totaled 1.07 trillion yuan. After opening 252 points lower, the Hang Seng Index narrowed its initial decline to 16450 points, then widened to 500 points at one point as low as 16095 points, down 433 points or 2.6% for the whole day to close at 16162 points; the national index fell 150 points or 2.6% to close at 5562 points; the Hang Seng Science and Technology Index fell 150 points or 4.3% to close at 3323 points. The total daily turnover in the market was 112.129 billion yuan, with a net inflow of 4.645 billion yuan and 2.901 billion yuan for southbound transactions between Shanghai and Shenzhen. JD.com Health (06618.HK) and Ali Health (00241.HK) fell 8.1% and nearly 8% respectively, while safe good Doctor (01833.HK) fell 9.2%. [the scientific index fell by more than 4% and the pharmaceutical platform stock fell] Tencent (00700.HK) fell 2.9% to 268.2 yuan, Ali-SW (09988.HK), Xiaomi-W (01810.HK), NetEase-S (09999.HK) and Kuaishou-W (01024.HK) fell 3.3% to 4.6%, Meituan-W (03690.HK) and Baidu-SW (09888.HK) fell 5.6% and 5.7%. JD.com-SW (09618.HK) shares fell 7.5 per cent to 82.75 yuan. JD.com will announce his results for the fourth quarter of last year after the Hong Kong stock market closes tomorrow (6th). The adjustment phase in the inner housing market will affect JD.com 's terminal sales of electronics and home appliances, as well as macroeconomic challenges. According to an earlier forecast by 15 brokerages, JD.com 's net profit belonging to common shareholders in the fourth quarter of 2023 ranges from 6.032 billion yuan to 7.5 billion yuan, compared with 7.659 billion yuan in the same period in 2022, down 2.1% to 21.2% year on year, and the median is 7.172 billion yuan, down 6.4%. Big Motors believes that the guidance given by JD.com management for the first quarter of this year (GMV and revenue growth) and comments will be the catalyst for the share price. Citi does not expect JD.com to give specific business future figures when he announces the results, but the estimated management will still comment on this year's operating prospects. Citi is concerned about the impact of JD.com 's new round of salary increases, Spring Festival Gala spending and continued fierce competition in the e-commerce sector. At the same time, due to the recent regulatory measures to promote the trade-in of consumer goods, the bank expects management to disclose the growth progress of the main categories of the platform. [there are selling pressure on a thousand four declining stocks] The market width of Hong Kong stocks turned weaker today, with a rise-fall ratio of 11: 33 (19: 23 the previous day) and 1407 shares (down 3.4%) on the main board. 4 shares of the Hang Seng Index rose and 78 shares fell today, with an up-and-down ratio of 5: 95 (44: 52 the day before). The market sold 22.822 billion yuan today, accounting for 23.131% of the turnover of 98.666 billion yuan of short-selling shares (20.133% the previous day). The market will pay more attention to the problem of inner housing. Contract sales at country Garden (02007.HK) fell 85 per cent year-on-year in February, and the stock fell 6.8 per cent throughout the day. Xuhui (00884.HK) fell 13.7%. Shares in 02202.HK fell 2.5 per cent. China Golden hair report pointed out that China's real estate market still faces challenges in the short term and needs to wait patiently for the policy to show its effect. According to the China Gold Index, after excluding the Spring Festival effect, sales of new homes fell by nearly 40% year-on-year in February, while sales of second-hand houses also fell by more than 10%. Last week alone (February 26 to March 3), the sales area of new houses in 50 cities and second-hand houses in 15 cities increased by 41% and 24% respectively, but compared with last year, which was also the second week after the Spring Festival, the sales area of new houses fell by 32%. Second-hand housing fell by 10%. CICC explained that although a series of recent supply-and demand-side adjustment policies may lead to a month-on-month improvement in sales from March to April, it is expected that it will be difficult for sales to show super-seasonal performance during the "Xiaoyangchun" period because the market expectation improvement reflected by house price trends is not strong. It is suggested that we should pay close attention to the relevant statements of the two associations on real estate.