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<H Shrs> HSI Swings Higher; CHINA MOBILE (00941.HK) Rises After Results; IPO SHENGHONG TECHNOLOGY (02476.HK) Surges 50%
Recommend 5 Positive 5 Negative 2 |
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The US-Iran ceasefire agreement is set to expire on Wednesday (22nd) US time. As the market awaits developments in US-Iran negotiations, Hong Kong equities fluctuated higher today (21st). With investors watching the ceasefire deadline, the DJIA and Nasdaq slipped slightly by 4 points and 64 points respectively overnight (20th). At the time of writing, the US 2-year Treasury yield rose to 3.737%, while the US 10-year Treasury yield climbed to 4.256%, and the US Dollar Index advanced to 98.25. DJIA futures were last up 111 points or 0.22%, and Nasdaq futures gained 101 points or 0.38%. The Shanghai Composite Index rose 2 points or 0.07% to close at 4,085, while the Shenzhen Component Index gained 0.1% to 14,982. The ChiNext Index added 0.3%. Total turnover on the Shanghai and Shenzhen exchanges reached nearly RMB2.41 trillion. The HSI opened 81 points higher, briefly fell 19 points before noon to 26,342, then rose as much as 168 points in the afternoon to 26,529. It closed at 26,487, up 126 points or 0.5%. The HSCEI closed at 8,943, up 44 points or 0.5%. The HSTECH closed at 5,061, down 4 points or 0.1%. Total market turnover for the day fell 15% HoH to HKD205.177 billion. Southbound trading turnover totaled HKD82.654 billion, with net southbound inflow of HKD3.738 billion today (versus net outflow of HKD3.909 billion in the previous trading day). Financial Secretary Paul Chan attended the listing ceremonies of CSOP Gold ETF (03030.HK) and SHENGHONG TECHNOLOGY (02476.HK), noting that Hong Kong welcomed two "largest" listings today: the largest gold ETF in Hong Kong and the largest IPO in Hong Kong so far this year. SHENGHONG TECHNOLOGY, a mainland AI-focused PCB leader, debuted on the H-share market today. The stock closed at HKD315, 50.1% above its IPO price of HKD209.88, with full-day turnover of HKD10.784 billion. Excluding fees, a board lot of 100 shares generated a paper gain of HKD10,512. Its A-shares (300476.SZ) fell 3.5% to RMB330.9. Peer KINGBOARD LAMINATES (01888.HK) rebounded 8.5% to HKD30.74, with turnover of HKD1.29 billion, while KINGBOARD HOLDINGS (00148.HK) rose 6.5%. SHENGHONG Sought After; CATL Rallies MEITUAN-W (03690.HK) and BAIDU-SW (09888.HK) each gained 1.5%, while TENCENT (00700.HK) fell 0.7%. ALIBABA-W (09988.HK) and NTES-S (09999.HK) each slipped nearly 0.5%. AI-related stocks ZHIPU (02513.HK) and MINIMAX-W (00100.HK) declined 2.6% and 1.4%, respectively. MANYCORE TECH (00068.HK) fluctuated but closed up 3.6%, with turnover of HKD3.468 billion, while UNISOUND (09678.HK) dropped 6.9%. Battery maker CATL (03750.HK) rose 4.8% to HKD736, with turnover of HKD2.256 billion. According to mainland media, CATL held its 2026 "Super Tech Day" today (21st) under the theme "Promise of the Extreme Realm." It was described as the companys most technology-intensive event since its establishment, with multiple new technologies, products and ecosystem initiatives to be unveiled. Reports indicated that sodium-ion batteries, condensed-state batteries and fast-charging technologies would be key highlights, with sodium-ion batteries being the primary focus. 1,100 Stocks Rise; CHINA MOBILE Gains After Results Market breadth improved. The ratio of advancers to decliners among main board stocks was 27 to 22 (previous day: 28 to 22), with 1,140 stocks rising (2.5%). Among HSI constituents, 59 stocks advanced and 30 declined, with a ratio of 65 to 33 (previous day: 68 to 31). Short selling amounted to HKD30.234 billion, accounting for 18.8% of turnover in eligible securities (HKD160.902 billion). CHINA MOBILE (00941.HK) rose 2.3% to HKD83.7 after announcing its first-quarter results, with turnover of HKD3.016 billion. Citi said in a report that CHINA MOBILEs first-quarter total revenue exceeded market consensus by 2.5%, but service revenue edged down 1.1% YoY amid stable industry fundamentals. Higher R&D and network-related costs, together with moderate growth in selling and administrative expenses, accelerated operating expense expansion, leading to a 5% YoY decline in quarterly EBITDA, 5.2% below consensus. EBITDA margin contracted 1.8 ppts YoY to 28.8%, 2.3 ppts below consensus. Net profit fell 4.2% YoY, 2.8% below consensus, with net margin down 0.6 ppts YoY to 11%. However, operating cash flow surged 128.1% YoY, reflecting strong cash generation and working capital optimization. Citi maintained a Buy rating with a TP of HKD105.1 on the stock. (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 |
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