Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
Market Commentary: HK Stocks Rebound on Futures Settlement Day; PING AN (02318.HK) and HKEX (00388.HK) Strong After Results
Recommend 4 Positive 5 Negative 0 |
||||
|
||||
|
Hong Kong stocks rebounded today (29th) on index futures settlement day. Reports that OpenAI delivered weak results and rising oil prices weighed on the market, with the DJIA and Nasdaq falling 0.1% and 0.9% overnight (28th). At the time of writing, the US 2-year Treasury yield rose to 3.848%, while the US 10-year Treasury yield climbed to 4.36%. The US Dollar Index advanced to 98.71. DJIA futures were down 1 point, while Nasdaq futures rose 64 points or 0.24%. The Shanghai Composite Index gained 28 points or 0.7% to close at 4,107, while the Shenzhen Component Index rose 290 points or 2% to 15,120. The ChiNext Index advanced 2.5%. Total turnover on the Shanghai and Shenzhen markets amounted to RMB2.59 trillion. The HSI opened 162 points higher and extended gains, once rising 453 points to an intraday peak of 26,132. It closed up 432 points or 1.7% at 26,111. The HSCEI gained 160 points or 1.9% to 8,805, while the HSTECH rose 82 points or 1.7% to 4,910. Total market turnover for the day was HKD258.281 billion. Southbound trading turnover totaled HKD95.68 billion, with a net outflow of HKD3.952 billion today (vs net inflow of HKD14.523 billion in the previous session). TRACKER FUND (02800.HK) rose 1.7% to HKD26.24, with turnover of HKD19.772 billion. Chip stocks were weak. SMIC (00981.HK) slipped 0.4%, while HUA HONG SEMI (01347.HK) fell 4.6%. Mainland property stocks rallied, with CHINA OVERSEAS (00688.HK) and CHINA JINMAO (00817.HK) surging 8.9% and 11.3%, respectively, and CHINA RES LAND (01109.HK) up 6.5%. Mainland Property Stocks Jump; PING AN Strong After Results Tech stocks were mixed. TENCENT (00700.HK) and NTES-S (09999.HK) rose 1.1% and 1.3%, respectively. BABA-W (09988.HK), KUAISHOU-W (01024.HK) and BILIBILI-W (09626.HK) gained between 2.9% and 3.5%. JD-SW (09618.HK) rose 1.9%, while BIDU-SW (09888.HK) fell 2.8%. PONY-W (02026.HK) slumped 5.5%. Mainland insurers advanced. CHINA LIFE (02628.HK) climbed 5.1%, and CPIC (02601.HK) rose 5.4%. PING AN (02318.HK) reported 1Q26 results that beat market expectations, with its share price jumping 6.1% to HKD63.7, on turnover of HKD5.094 billion. Citi said PING ANs 1Q26 results were solid overall. New business value rose 21% YoY to RMB15.6 billion, outperforming CPIC Lifes 10% growth, driven mainly by a 46% YoY increase in first-year premiums. However, affected by assumption changes and a shift in product mix toward participating products, new business value margin declined 4.8 ppts YoY to 23.5%. Operating profit grew steadily by 8% YoY to RMB40.8 billion, supported mainly by asset management, life insurance and banking businesses, while property and casualty insurance and technology businesses were drags. Net profit fell 7% YoY to RMB25 billion, mainly due to short-term investment volatility, though management indicated investment performance rebounded in April. Citi maintained a Buy rating on PING AN, with a TP of HKD82 for its H shares. High Short-selling Ratio; NIO-SW Sought After Short selling amounted to HKD46.64 billion today, accounting for 21.016% of turnover in eligible securities totaling HKD221.92 billion. HKEX (00388.HK) reported at midday that 1Q26 profit rose 27%, beating expectations. The stock climbed 3% to close at HKD419.8. Citi noted that HKEXs attributable profit reached HKD5.2 billion in 1Q26, up 20% QoQ and 27% YoY, exceeding market expectations by 12%. Core revenue was 5% and 2% above market and Citi forecasts, respectively, mainly driven by stronger trading and listing fees. Investment income reached HKD1.3 billion, up 5% QoQ and 26% above market expectations, partly due to HKD75 million in FX gains during the period. Citi said the strong 1Q26 results should prompt earnings upgrades, maintaining a Buy rating with a TP of HKD525. BYD COMPANY (01211.HK) rose 4.4% after announcing results. NIO-SW (09866.HK) surged 8.7% after launching the ONVO L80 model. M Stanley expects a constructive share price reaction following the L80 launch, which is likely to become a best-selling model and drive sales across the ONVO lineup. The broker believes this launch, together with the ES9, will lay a solid foundation for volume and profit growth in 2Q26, providing greater clarity on demand and earnings for capital markets. (wl/da) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
||||
Copied to Clipboard
 |
||||
