China News Service, Hong Kong, March 28 (Reporter Dai Xiaolu) On March 28, the last trading day of the first quarter of the Hong Kong stock market, the three major indexes rebounded collectively. It is worth noting that Hong Kong stocks have seen a repurchase trend recently, with Internet giants becoming the main force in this round of repurchases.
As of the 27th, 37 Hong Kong listed companies have carried out share repurchases, with a total of 52.5977 million shares repurchased, and the repurchase amount reached 1.724 billion yuan (Hong Kong dollars, the same below). Among them, Tencent repurchased the largest amount, spending 1.002 billion yuan to repurchase 3.29 million shares. In addition, the repurchase amounts of Meituan, Kuaishou, Xiaomi and other companies have exceeded 1 billion yuan.
Haitong Securities said that for the Internet sector, the economic situation in mainland China and the Federal Reserve's interest rate hikes are still important variables. As the economy improves and cost reductions and efficiency increases continue to be released, it is expected that the revenue and profits of each company will gradually pick up, superimposing The new round of industrial revolution brought about by artificial intelligence is expected to generate new growth points. At the same time, Internet companies' continued increase in buybacks also shows the restoration of market confidence.
On that day, the Hang Seng Index closed at 16541.42 points, up 148.58 points, or 0.91%. The market's full-day turnover was 117.257 billion yuan. The Hang Seng Technology Index rose 84.12 points, or 2.48%, to close at 3477.55 points; the State-owned Enterprise Index rose 82.66 points, or 1.44%, to close at 5810.79 points.
Ye Zeheng, an analyst at the Securities Business Department of Industrial and Commercial Bank of China (Asia), said in an interview with a reporter from China News Service that although the Easter holiday is approaching, because this week is the settlement of futures, coupled with the quarter-end factors, large stock market players have changed hands. Therefore, The market turnover on the four trading days this week exceeded 100 billion yuan. For the whole week, the average daily market turnover of Hong Kong stocks was approximately 113.5 billion yuan, a week-on-week increase of 8.04%.
In terms of sectors, technology stocks across the board pushed the market higher. Bilibili rose by more than 8%, Meituan rose by more than 6%, JD.com rose by more than 5%, Baidu rose by more than 3%, and Alibaba rose by more than 2%.
So far, the 2023 performance of Internet leaders such as Tencent, Meituan, Kuaishou, and Xiaomi has been announced. Among them, Meituan turned losses into profits and earned more than 10 billion yuan, reaching a record high; Xiaomi's profits doubled, and Tencent and Bilibili both achieved growth of more than 30%.
Seeing the outstanding performance of Internet companies, foreign investment banks have begun to bet on leading companies. For example, the international rating agency Moody's recently raised Meituan's credit outlook to "positive", and well-known investment banks such as JPMorgan Chase, Morgan Stanley and Macquarie They also raised their target prices for Meituan. (over)