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Source: China Fund Daily

Guo Xiejun, reporter of China Fund News.

Hong Kong's three major stock indexes rose on April 18. By the close, the Hang Seng Index was up 0.Crapsstick.82%, at 16385.87 points. The Hang Seng Technology Index rose 0.5% to 3356.82. The Hang Seng China Enterprises Index rose 0.94% to 5803.86. The turnover in the big market was 95.28 billion Hong Kong dollars. The net purchase of southward capital is HK $6.638 billion.

Consumer and financial stocks were among the biggest gainers. Shenzhou International rose 5.09%, Haier Zhijia rose 4.31%, and Zhongsheng Holdings rose 4.20%, leading the rise in blue chip.

Financial stocks led gains, with China Pacific Insurance up more than 5.78 per cent, Ping an of China up 4.15 per cent, China International Capital Corporation up 2.99 per cent and China Merchants Bank up 2.83 per cent.

Consumer stocks were among the biggest gainers, with KEEP up 12.72%, Anta Sports up 4.11%, Tsing Tao Beer shares up 2.62% and China Resources Beer up 2.34%.

In terms of industry performance, the Hang Seng industry index rose mostly during the day, the financial industry index rose 1.73%, the raw materials industry index rose 1.19%, and the non-essential consumption index rose 1.14%.

In terms of decline, the energy industry index fell 0.89%, the health care industry index fell 0.5%, and the telecommunications industry index fell 0.47%.

Judging from the market, most of the Wind concept sectors rose, the home appliance index rose 4.1 per cent, the Chinese insurance index rose 3.61 per cent and the Alibaba index rose 3.56 per cent.

In terms of decline, the Xiongan New area Index led the decline, falling 2.48%. The satellite navigation index fell 2.29%. The medical beauty index fell 2.11%.

Multiple benefits

Financial stocks broke out collectively

On April 18, driven by the recent announcement of Huijin's increase in its holdings of four major banks and the release of the new "National Nine articles", individual stocks in the financial sector broke out collectively. The Hang Seng Composite Financial Industry Index rose 1.73%, leading the rise in major industry indices.

China Pacific rose 5.78%, China Ping an rose 4.15%, and China Taiping rose 3.85%, leading the rise in the Hang Seng Composite Financial Industry Index.

In the first quarter of 2024, under the guidance of supervision, the insurance industry continued to reduce debt costs. From January to March 2024, the original insurance premium income of five A-share listed insurance companies reached 999.2 billion yuan, down 5.4 percent from the same period last year. Guoxin Securities issued a research report that the leading share of the insurance industry has increased, and the industry pattern has been optimized. The gradual release of the results of life insurance channel reform is conducive to the stabilization of NBV growth in the second half of the year. The property insurance business benefited from the holiday effect in the first quarter and the continued recovery of the economic situation, and the growth of premium income continued. It is suggested that we should pay attention to China Life Insurance, which has a leading advantage in life insurance channels, and China Pacific Insurance, which has achieved remarkable results in debt-side reform.

For the banking industry, Haitong International issued a research report saying that with the introduction of the follow-up economic policy to maintain stability, the revenue growth rate of the follow-up banks is expected to gradually stabilize, the profit growth rate is expected to remain high, the defective rate remains low, and the provision coverage rate remains high. It is recommended to pay attention to industry-related investment opportunities.

Haitong International also said that Huijin significantly increased its holdings of four major banks from October 11, 2023 to April 10, 2024, representing a bullish view of Daxing.

A few days ago, the State Council issued several opinions on strengthening supervision and preventing risks to promote the high-quality development of the capital market (the new "National Nine articles". AVIC Securities released a research report that said that on the one hand, securities investment banking, financial and other business supervision may be further strengthened; on the other hand, wealth management and financial technology ushered in development opportunities. In the short term, the release of the "New Nine articles" is expected to boost investor confidence and stabilize expectations for future development. In the long run, it is suggested to pay attention to the main line of capital market reform, as well as the main line of "five major articles", such as the more successful securities firms in digital transformation.

Hualong Securities released a research report saying that the new "National Nine articles" guide the improvement of the asset quality of the stock market and help to improve the profitability of the securities industry. The new "National Nine articles" encourages the differentiated development and characteristic operation of small and medium-sized institutions, and the head securities firms with professional competitive advantages will usher in greater opportunities for development in the future.

With regard to the insurance industry, Hualong Securities said that the new "National Nine articles" proposed to "vigorously promote the entry of medium-and long-term funds into the market, and continue to expand the long-term investment force." promote all kinds of medium-and long-term funds to optimize the long-term assessment mechanism to better achieve "long-term investment". Policy guidance and increased capital market activity will improve the capital risk of insurance companies on the debt side, while the performance of the investment side is expected to continue to improve in 2023.

Xiaopeng car is up nearly 5%.

Driven by the signing of a strategic cooperation framework agreement between the company and Volkswagen Group, Xiaopeng's shares rose 4.60% at one point on April 18, up 3.19% throughout the day to close at HK $29.15.

On April 17th, Xiaopeng issued a "voluntary announcement" that the company and Volkswagen Group signed a strategic cooperation framework agreement on EEA electronic and electrical architecture technology. In this cooperation, the two sides will jointly develop and integrate Xiaopeng into Volkswagen's CMP platform in China based on Xiaopeng's latest generation of electronic and electrical architecture.

Xiaopeng Chairman and CEO he Xiaopeng said: "the common pursuit of technological innovation has brought Xiaopeng and Volkswagen together. Both sides will continue to fight forCrapsstickOur strategic partnership gives full play to its strengths and makes contributions. This strategic cooperation based on our industry-leading electronic and electrical architecture technology promotes our strategic partnership to a new level and is based on a larger scale of strategic cooperation. Through cooperation, our smart electric vehicle products will be highly competitive in terms of technology and cost. "