$HSI(HSI)$ fell 2.95% to close at 16,334 points last week, approaching its lowest point last year.
In terms of import and export data for November, exports increased by 0.5% year-on-year, surpassing market expectations when measured against the dollar. However, imports declined by 0.6% year-on-year, indicating unstable domestic demand.
Internationally, US stocks experienced slight growth, while the Indian stock market continued to reach record highs, causing envy among investors in Hong Kong and A-shares.
By sector
Healthcare emerged as the biggest loser last week, closely trailed by the real estate sector. Conversely, only the materials and industrial sectors remained to be green.
From the perspective of individual stocks, $TENCENT(00700)$ $Tencent Holding Ltd.(TCEHY)$ , the so-called king of stock, was again reduced by major shareholders, and the stock price approached the HK $300 mark.
Two other star stocks, $WUXI BIO(02269)$ and $Microport Scientific Corp.(MCRPF)$ $MICROPORT(00853)$ , saw a sharp drop in value last week. The former lowered its 2023 revenue outlook, while the latter issued high-yielding US dollar convertible bonds. Both stocks saw a weekly decline of over 30%, breaking the hearts of countless investors.
Despite the brutal market conditions, southbound funds saw a net inflow of HK$11.2 billion last week:
Looking ahead to this week, the US will release its CPI data for November. If inflation continues to cool, the probability of the Federal Reserve raising interest rates will continue to drop, which could help overseas capital flow back in and support a rebound of Hong Kong stocks.
Key Events in Hong Kong Stocks Last Week
1. COMEX gold futures broke through the $2150 / ounce mark last week, continuing to brush a record high;
2. $WUXI BIO(02269)$ lowered its performance outlook due to the rapid decline in revenue due to the COVID-19 pandemic;
3. $MICROPORT(00853)$ announced to issue $220 million convertible bonds with an annual interest rate of 5.75%;
4. $NIO Inc.(NIO)$ $NIO Inc.(NIO.SI)$ $NIO-SW(09866)$ released third quarter results and announced that it spent 3 billion yuan to win two factories of JAC Motor;
5. Moody's cut China's sovereign credit rating outlook;
6.$BYD Co., Ltd.(BYDDF)$ $BYD COMPANY(01211)$ Chairman proposed 200 million yuan to buy back part of the company's A-shares, which may be used for employee stock ownership plans;
7. Private equity tycoon Ge Weidong said Hong Kong stocks are too difficult, subverting investment experience;
8. Prosus, a major shareholder of $TENCENT(00700)$ $Tencent Holding Ltd.(TCEHY)$ , reduced its stake in Tencent by another 513,500 shares, reducing its stake to 24.99%;
9. The Political Bureau of the CPC Central Committee announced that it will continue to implement a proactive fiscal policy and a prudent monetary policy next year.
Three Stocks Worth Attention Among Top Trading HK Stocks Last Week
Top3: $TENCENT(00700)$ $Tencent Holding Ltd.(TCEHY)$ , Prosus, a major shareholder of Tencent again reduced its 513,500 shares of shares, reducing its stake to 24.99%, and the stock price once fell to HK $301, once again approaching the round mark of HK $300;
Top5: $WUXI BIO(02269)$ , the company announced on its official website that it would lower its 2023 performance guidance due to the decline in COVID-19 pandemic revenue and the deterioration of the market environment, saying that the industry would enter single-digit growth in the next two years;
Top8: $MICROPORT(00853)$ , the company announced to issue $220 million convertible bonds with an annual interest rate of 5.75%. The conversion price was set at HK $12.779, causing the market to worry about debt risk, and the stock price plummeted.
This week's Hong Kong stock market events
1. This Tuesday evening, The United States will release November CPI data, the market is expected to grow 3.1%, pay attention to whether it exceeds expectations;
2. This Wednesday, China will release M2, new loans, social financing scale and other data, and pay attention to whether they meet expectations;
3. This Thursday, the Fed will announce the interest rate decision and issue the monetary policy statement;
4. This Friday, China will release retail sales and unemployment data, focusing on whether the economy improved in November.
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