China Fund News reporter Ivan
On April 17, the three major indexes of Hong Kong stocks collectively rebounded and rose slightly. At the close, the Hang Seng Index was at 16,251.84 points, up 0.02 percent, the Hang Seng China Enterprises Index was at 5,749.69 points, up 0.1 percent, and the Hang Seng Tech Index was at 3,340.22 points, up 0.07 percent.
On the market, most of the weighted technology stocks fell, Kuaishou fell more than 3%, Meituan, Baidu fell more than 1%, but Xiaomi rose more than 2%; the news said that Macau's gaming credit law proposal came into effect in August, gaming stocks fell, Galaxy Entertainment fell more than 7%, Sands China fell more than 3%, Wynn Macau fell more than 1%.
On the other hand, mainland bank stocks, insurance and other large financial stocks rose; heavy infrastructure stocks strengthened, China Metallurgical, China Railway, China Communications Construction rose about 3%, China Railway Construction rose more than 2%; power stocks generally rose, wind power stocks were more active, Dongfang Electric rose more than 8%, semiconductor stocks rose, Shanghai Fudan rose more than 8%, SMIC, Hua Hong Semiconductor rose more than 1%.
Huawei's blockbuster new mobile phone will be released, and semiconductor stocks are strong
On April 17, Hong Kong semiconductor stocks collectively strengthened, with Shanghai Fudan rising more than 8%, SMIC and Hua Hong Semiconductor rising more than 1%.
On the news side, on the morning of April 16, Yu Chengdong, executive director of Huawei and CEO of the terminal BG, said that "Pura70" can be regarded as P70, and there will be good news in two days.
Wu Yiwen, a senior analyst at Strategy Analytics, said that the name change is an upgrade of the P series in terms of brand building, and Pura is more symmetrical with Nova and Mate.
In addition, global semiconductor sales reached $46.2 billion in February 2024, a year-on-year increase of 16.3%, which is the best performance for four consecutive months of growth since May 2022. Tianfeng Securities analysts Pan Jian and Luo Yiyang said in the report that AI is expected to be the main driving force in this cycle. It is expected that the industry's inventory will return to the normal level in the first half of the year, and some links are also expected to give priority to replenishing inventory.
The new deal will take effect Gaming stocks fell
On April 17, Macau's gaming stocks collectively fell, Galaxy Entertainment fell more than 7%, Sands China fell more than 3%, SJM Holdings fell nearly 2%, and Wynn Macau fell more than 1%.
On the news, last week, Macau's Legislative Assembly unanimously passed a new gaming credit law, which will come into effect on August 1 this year. The new Gaming Credit Law is the full name of the "Casino Lucky Games Credit Legal System", which stipulates that the entity of gaming credit in the future can only be carried out by the concessionaire, and the gaming intermediary cannot carry out credit behavior, but can enter into an agency contract with the concessionaire to lend on behalf of the concessionaire, but the chips lent and recovered belong to the concessionaire.
In addition, the law also provides that the Chief Executive may disqualify a company from granting credit on the basis of substantial public interest.
Editor: Captain
Review: Muyu