Turnover of the Main Board was HK $ 103.6 billion throughout the day, a slight increase from the previous trading day.
Editor’s note: This article is from ” Futu News “, editor: Antonio, ericcui; published with permission. Original title “Hong Kong Stocks Received Appraisal | HSI Opens High, Tencent Soars Late, Christine Tseng 440%”
Hong Kong Stocks Review
Futu News May 11 | The HSI is operating at a high level in the afternoon, trading heat is picking up, and individual stocks have risen more or less. As of the close, the Hang Seng Index rose 1.53% to 24,602.06 points; the state-owned enterprise index rose 1.24% to 9990.48 points. 
Quote from: Futu Securities
In terms of sectors, gaming stocks have generally risen. Melco International and Sands China both led the gains by over 3%. At present, the epidemic situation in Guangdong is basically under control. In light of the current situation of prevention and control of the new coronary pneumonia epidemic in the province, after evaluation by experts in the organization, it is decided that the emergency response level for the prevention and control of the new coronary pneumonia epidemic in Guangdong Province will be changed from 0:00 on May 9. The second-level response to public health incidents was adjusted to a third-level response. In addition, Macao, which is also a city in the Greater Bay Area, has gradually eased customs clearance restrictions in response to the stability of the epidemic. Zhuhai workers (including holders of Zhuhai residence permits) will be granted cross-border office work in Zhuhai and Macao from May 11 The exemption is centralized for 14 days.
In terms of individual stocks, $China Flying Crane (06186.HK) $ volume dropped 5.41%, reported at 14.68 Hong Kong dollars, turnover of 716 million Hong Kong dollars, the latest total market value of 131.1 billion Hong Kong dollars The company has shown a rising market since its listing, and it has hit a new high of HK $ 16.5 a few days ago, with a total market value of over HK $ 140 billion. It fell significantly today, and it has fallen 10% since its historical highs. It has lost 10, 20 and 30 days moving average. At the end of April, China’s Feihe lowered its EPS forecast for the second half of the year from 0.34 yuan to 0.33 yuan.
$ Tencent Holdings (00700.HK) $ further strengthened in the afternoon, with a maximum rise of 4.02% , Touched 434 Hong Kong dollars, the turnover of 13.47 billion Hong Kong dollars, the latest total market value of 4155.64 billion Hong Kong dollars. The stock has rebounded since March 19 and has risen from 325.2 Hong Kong dollars to 430 Hong Kong dollars in less than 2 months, a cumulative increase of 32%, and the market value has increased by more than 1 trillion Hong Kong dollars. Tencent is about to publish a quarterly report on May 13 (Wednesday), and institutions generally expect its first quarter results to exceed expectations with the help of online games business.
“The First Bake” $ 克丽丝汀 (01210.HK) $ It soared in the afternoon, closing at 0.6 Hong Kong dollars, up 361%, with a turnover of 1153.5 million Hong Kong dollars, and the latest total market value of 600 million Hong Kong dollars. The stock once reached an all-time low of HK $ 0.098 on March 19th. It is reported that Christine released a 2019 performance report (unaudited), showing that during the period, revenue was 549 million yuan, a decrease of approximately 17.34% year-on-year; net profit was a loss of 207 million yuan, which was the seventh consecutive year for Christine. Annual loss.
$ Lvjing China Real Estate (00095.HK) $ a few waves of rapid pull in the afternoon The upward trend once expanded to 23% and closed at HK $ 2.4. The stock price reached a new high since the end of January, with a turnover of HK $ 51.36 million and the latest total market value of HK $ 12.1 billion.
In the constituent stocks of the HSI, individual stocks rose more and fell less, and Sunny Optical led the broader market; among the constituent stocks of the HSI, Sunny Optical led the broader market.
Hong Kong Stock Connect funds
In terms of Hong Kong Stock Connect, Hong Kong Stock Connect (southbound) net outflow of nearly HK $ 300 million today, Reversing the previous net inflow trend today. 
Source: Futu Niu Niu
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In terms of macro, the central bank did not carry out reverse repurchase operations. Since no reverse repurchase expires today, zero release and zero return will be achieved that day.
The 3-month Hong Kong dollar HIBOR fell 8 basis points to 1.23%, the lowest in two years.
In terms of the epidemic situation, the National Health and Welfare Commission spokesperson: On May 10, there were no new deaths for 26 consecutive days across the country, the current severe cases fell to less than 10 for the first time, and the number of confirmed cases imported overseas fell to 100 the following. In the past 14 days, 7 provinces have reported new local confirmed cases, and local cases related to local epidemic outbreaks continue to increase. To identify the source of infection and the transmission path, do a good job of tracking management, isolation treatment and medical observation, cut off the chain of transmission.
Tesla, according to the monthly data released by the National Passenger Car Market Information Association, the Tesla Model 3 models sold 3,635 vehicles in China in April, ranking on the new energy passenger car list in China in April third. From January to April, the cumulative sales of Model 3 were 19,705 vehicles, ranking first in the list of new energy passenger cars.
In terms of pork, according to data from the Ministry of Agriculture and Rural Affairs, wholesale pork prices fell by 1.7% month-on-month in the week of May 1-9. According to this calculation, pork wholesale prices have fallen for the 11th consecutive week.
In terms of gold, the World Gold Council released data today (11th) that global gold ETF holdings increased by 170 tons in April, achieving a net inflow for the sixth consecutive month, equivalent to a net inflow of US $ 9.3 billion. The volume reached 3,355 tons, a record high for gold ETFs. The data shows that the size of global gold ETFs has increased by 80% in the past year.
In terms of financial marketization, on May 9, based on the pre-disclosed information listed on the Shanghai United Property Exchange, Shanghai International Trust Co., Ltd. will transfer 49% of the equity of JPMorgan Funds. JP Morgan Asset Management, a subsidiary of JP Morgan Chase, announced that it will acquire 100% of the equity of JPMorgan Funds. If the transaction is completed, the Shanghai JPMorgan Fund Company will become the first domestic wholly foreign-owned public fund company.
In terms of automobiles, data from the China Association of Automobile Manufacturers showed that the production and sales of commercial vehicles in April were 514,000 and 53.4, respectively.Ten thousand vehicles, the highest level in history, increased by 37.8% and 37.7% sequentially and 31.3% and 31.6% respectively. Among them, heavy-duty trucks have the fastest growth, with production and sales of 175,000 and 191,000 respectively, an increase of 48.3% and 61% year-on-year.
The China Automobile Association released data on China’s auto production and sales in April. China’s auto sales in April were 2.07 million units, an increase of 4.4% year-on-year; January-April sales were 5.76 million units, a year-on-year decrease of 31.1%. In April, sales of new energy vehicles in China fell by 26.5% year-on-year; sales of new energy vehicles in January-April fell by 43.4% year-on-year.
In terms of data centers, the data company IDC released the “Tracking of Artificial Intelligence Infrastructure Market (second half of 2019)” report that the artificial intelligence infrastructure market in 2019 reached US $ 2.09 billion, a year-on-year increase of 58.7%. Among them, GPU servers occupy 96.1% of the market. IDC predicts that China’s GPU server market will reach USD 6.4 billion by 2024.
Institutional perspective
Morgan Stanley: The coronavirus crisis is likely to end the 30-year deflationary momentum and heralds the re-acceleration of inflationary pressure and may exceed the goals of central banks. To date, major central banks have lowered interest rates and increased bond purchases, and governments have introduced more than $ 8 trillion in stimulus measures to mitigate the impact of the economic shutdown aimed at preventing the spread of the virus. This, combined with possible measures to address growing wealth inequality, will begin to drive inflation.
UBS Wealth Management: The current gold price has recently hovered at the $ 1700 mark. With the decline in real interest rates and the US dollar, funds will flow into gold again, maintaining the gold price target of 1800 US dollars in the coming year.
BOC Securities: The volatility of the stock market remains but the risks are controllable, and it is necessary to grasp the layout opportunities of the certainty segment of performance. Export data exceeded expectations, and domestic demand led to a rebound in fundamentals in the second quarter. Entering May, the base effect and the previous backlog of orders have subsided, and short-term external demand is still facing greater pressure. In terms of domestic demand, with the gradual progress of the resumption of work, the sales of automobiles and real estate showed signs of recovery, and domestic demand was picking up. In general, domestic fundamentals will gradually be repaired from the trough in the first quarter, and the domestic economy in the second quarter will show the characteristics of “external cold and internal heat”.
Chief economist of the World Trade Organization (WTO): China ’s long-term strategy has always been to move up the “value chain” from investment-led growth to consumption-led growth, and to increase the share of services in overall consumption. Therefore, regardless of the pandemic crisis, we have seen many factors driving the transformation of China and even the global supply chain. From now until 20 years later, China’s position in global trade and the global economy will be very different from now. The new crown pandemic and the broader global trade policy debate have only accelerated what has already happenedtrend.