In the past week, the performance of Hong Kong stocks was still poor, with the $HSI(HSI)$ down 1.76% in a week, which fell more than the same period in 2023!
Amid the gloom, the economic data released this week was mixed!
According to data from the National Bureau of Statistics, CPI fell by 0.3% year on year in December, while PPI fell by 2.7%. The good news is that, according to data released by the General Administration of Customs, China's import and export totaled 3.81 billion yuan in December last year, growing by 2.8% year on year, with monthly import and export volume hitting a record high; among them, exports increased by 3.8%, and imports increased by 1.6%.
Overseas, the United States released December CPI data on Thursday, up 3.4% year on year, exceeding analyst expectations, is expected to delay the rate cut process.
In terms of sectors, most sectors fell last week, except for energy, which rose significantly due to worsening Middle East tensions:
Southbound funds saw a rare net outflow of HK $4.58 billion last week:
Next Wednesday, China will release economic data, including GDP and unemployment, which may have a significant impact on the trend of Hong Kong stocks.
Key Events in Hong Kong Stocks Last Week
1. $JD.com(JD)$ $JD-SW(09618)$ announced that its subsidiary Dada had found suspicious behavior during routine internal audits;
2. $MEITUAN-W(03690)$ $MEITUAN(MPNGF)$ 's Hong Kong business has a market share of 37%;
3. $LENOVO GROUP(00992)$ $Lenovo Group Ltd.(LNVGF)$ announced a number of new products at CES 2024, including AI PC;
4. The Passenger Car Association announced that sales of new energy passenger vehicles in China in 2023 totaled 7.736 million units, an increase of 36.2% year on year;
5. Dong Yuhui's new account sold more than 100 million yuan for the first time, nearly four times that of $Best Buy(BBY)$ ;
6. $MEITUAN-W(03690)$ $MEITUAN(MPNGF)$ implemented its first buyback since listing;
7. The Hong Kong Budget Proposal has been consulted, advocating further reduction of stock stamp tax and withdrawal of taxation on the property market;
8. China's Olympic Park has approved a debt restructuring plan of more than US$6 billion;
9. China's CPI fell 0.3% year-on-year in December;
10. $China Tourism Group Duty Free Corporation Limited(601888)$ released 2023 performance forecast, annual net profit increased by 33.5% year on year;
11. Us CPI rose 3.4% in December, beating market expectations.
Four Stocks Worth Attention Among Top Trading HK Stocks Last Week
Top1: $MEITUAN-W(03690)$ $MEITUAN(MPNGF)$ . Last week, Meituan implemented its first buyback since listing, the amount of buyback nearly HK $4 billion. The share price rose at one point;
Top5: $JD.com(JD)$ $JD-SW(09618)$ . The company announced stunning news that it had found suspicious behavior during routine internal audits of its subsidiary Dada. JD.com's share price fell and Dada plunged by 55%;
Top6: $XPeng Inc.(XPEV)$ $XPENG-W(09868)$ . The performance of new energy vehicle companies has been poor at the beginning of the year. Xpeng and NIO have fallen sharply. In terms of news, Tesla has reduced prices for its main models, with a price reduction of 15500 yuan for Model 3 and 7500 yuan for Model Y;
Top10: $Wuxi Biologics Cayman Inc.(WXIBF)$ $WUXI BIO(02269)$ . Last week, WuXi Biologics announced an increase in its performance at the Morgan Stanley Healthcare Conference and its share price rose significantly.
This week's Hong Kong stock market events
1. U.S. markets will be closed on Monday for Martin Luther King Jr. Day.
2. On Wednesday, China will release economic data such as GDP and unemployment rate.
3. On Thursday, $Taiwan Semiconductor Manufacturing(TSM)$ will release its quarterly results, and the outlook is expected to have a significant impact on the semiconductor sector.
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