On Tuesday, June 6, Hong Kong stocks soared higher in early trading, with the three major indexes rising 1.4% at one point, and the afternoon volatility was lower. By the close, the Hang Seng Index closed down 0.05% at 19,099.28 points, the Hang Seng Technology Index fell 0.17% to 3,834.34 points and the Hang Seng State-owned Enterprises Index rose 0.24% to 6,479.64 points.
On the market, large technology stocks were mixed, with NetEase up 2.59%, JD.com up more than 2%, Tencent and Kuaishou down more than 2%, and Innovation and Technology Industry down nearly 5% leading the blue chips; Pharmaceutical stocks were the top decliners, with Tigermed down more than 6%, Conoya down nearly 6%, and BeiGene down more than 4%; Power stocks all fell, with Huaneng International Power, Datang Power Generation and Huadian International Power falling nearly 4%.
On the other hand, domestic housing stocks and property management stocks rose sharply, and the weighted stock Longfor Group rose by more than 7%; Most auto stocks rebounded, with Great Wall Motor and Leapmotor rising more than 4%.
"Sky-priced" headset "intimidated" supply chain Gao Wei Electronics once plunged more than 24%
On Tuesday, June 6, Apple concept stocks fell sharply, Gao Wei Electronics once plunged more than 24%, closed down more than 19%, Sunny Optical Technology, TK Group fell more than 2%, AAC Technology, BYD Electronics, Qiu Ti Technology and so on followed.
On the news, Apple released the first MR headset product Apple Vision Pro, priced at $3499, which is expected to be launched in early 2024, and the market generally believes that its price is too high, and the mass production time is lower than the market expectation.
Tianfeng International Securities analyst Guo Mingxi believes that Vision Pro failed to convince investors in two aspects. First of all, the price of Vision Pro is higher than expected, and the release date needs to wait more than half a year, which is expected to be negative investment sentiment in the short term.
In addition, Kuo Mingxi pointed out that Apple showed the vision of spatial computing and the design innovation of AR/MR devices, but did not show the necessity of using Vision Pro in daily life. Conversely, ChatGPT or AIGC (Artificial Intelligence Generated Content) is currently more persuasive in terms of changing human lives for the foreseeable future. He also said that investors need to closely watch the pre-order demand for Vision Pro and whether Apple can provide more attractive apps, content or ecology before launch.
Domestic housing stocks and property management stocks rose sharply
On Tuesday, June 6, Hong Kong domestic housing stocks and property management stocks rose sharply. Times China Holdings rose nearly 19%, Ronshine China rose more than 12%, Sunac China rose more than 10%, Longfor Group rose more than 7%, Kaisa, Country Garden and Shenzhen Holdings rose more than 6%, and Zhenrong Real Estate, Powerlong Real Estate and Longguang Group rose more than 5%.
On the news, the China Economic Times said that in the first quarter of 2023, affected by the accelerated release of the backlog of housing purchase demand in the early stage, the transaction volume of real estate in first-tier cities rebounded significantly. However, since then, the momentum of the market recovery has weakened, and the trading enthusiasm began to decline in April, and in May, market activity continued to decline. The industry expects that in June, the central and local governments are expected to accelerate the introduction of policies to stabilize the property market, and further explore a rich policy toolbox to support the release of residents' reasonable housing demand and restore market confidence and expectations. Among them, restrictive policy adjustments such as real estate purchase restrictions in first-tier cities are worth paying attention to.
In addition, real estate enterprises have successively announced their May sales data: KWG Pacific achieved pre-sales of 2.38 billion yuan in May, Country Garden achieved contract sales attributable to the company's shareholders' equity of about 18.2 billion yuan in May, Sunac China achieved contract sales of about 7.79 billion yuan in May, Agile pre-sales in May was 4.2 billion yuan, and Yuexiu Real Estate achieved contract sales in May increased by about 49.6% year-on-year to 12.355 billion yuan.
Guosen Securities Research Report pointed out that although the real estate recovery in May weakened in the short term, the general trend of market recovery will not change, and the sales and performance lows of high-quality housing enterprises have passed. After the hot return period and policy window period in the past February, real estate stocks have fallen out of β space, and the sector has been very cost-effective. It is continue to strongly recommend left-hand investors to lay out real estate and real estate chains, focusing on tracking marginal changes in sales data and news trends, and any market perception of good fundamentals or policies will bring huge returns.
Editor: Captain
Review: Xu Wen