© Reuters. Hong Kong stocks close: Kechuang Industrial plunges 18%, drags Hang Seng Index down, Lenovo leads technology stocks
Investing.com – On Thursday (23rd), Hong Kong’s major stock indexes were mixed. Affected by the technology innovation industry, the Hang Seng Index finished higher and fell, but the Hang Seng Technology Index closed higher.
At the same time, the turnover of the Hang Seng Index today was 102.662 billion. Beishui has made net purchases for three consecutive days. Today, the net purchases of southbound funds were 832 million yuan, with a net inflow of 2.522 billion yuan.
As of market close:
- It fell 0.35% to 20351.35 points;
- Up 0.27% to 20,356.5 points;
- Up 1.18% to 4149.12 points;
- It rose 0.40% to 6859.95 points.
(Intraday trend of Hang Seng Index)
Most of the technology stocks rose, Lenovo Group (HK:) led the rise, an increase of 5.52% to HK$7.26, and was praised by many institutions. Among them, Goldman Sachs raised Lenovo Group’s 2024-2025 fiscal year forecast by 13%, mainly due to the increase in gross profit margin. Reflecting component cost reductions and the company’s product mix upgrades. Raise target price from HK$6.19 to HK$7.
At the same time, Tencent Holdings (HK:) (OTC:) closed flat, Alibaba (HK:) (NYSE:) rose 2.37%, and Bilibili (HK:) (NASDAQ:) rose 3.62%.
Consumer stocks rose modestly. Ctrip Group (HK:) rose 2.83%, China Resources Beer (HK:) rose 1.23%, Haidilao (HK:) rose 2.10%, and Jiumaojiu (HK:) rose 2.57%.
Technological Industries (HK:) plummeted 18.93%, leading the decline in blue-chip stocks. It was attacked by short-selling agency Jehoshaphat Research, accused of exaggerating profits and laying off employees on a large scale. It believes that the company’s performance in 2023 will be “disaster” and predicts that the company’s stock price will fall 60% % to 80% downside.
In addition, Alibaba will announce its financial report after the close. It is expected that the performance will still be under pressure, but we can pay attention to the improvement of profitability, cloud business demand and outlook, and international business.
[This article is from Yingwei Caiqing Investing.com, to read more, please log in to cn.investing.com or download Yingwei Caiqing App]
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Editor: Liu Chuan
