Mid-day Review: Hang Seng Index Rises 0.18%, Tech Index Rises 0.03%! Military-Industrial Stocks Surge, AliCloud Rises Over 2%, BYD Electronics Rises 6%, China Shenhua Rises 3%
August 6th news, the Hang Seng Index and its constituent indices have mixed performances. As of midday, the Hang Seng Index rose 0.18%, closing at 24947.57 points, while the tech index rose 0.03% and the state-owned enterprise index fell 0.03%. On the trading floor, stocks in the IT sector had mixed performances, with AliCloud rising over 2%, Tencent and Bilibili rising over 1%, Meituan and Baidu falling over 1%; military-industrial stocks led the charge, with China Shipbuilding's stock (600685) surging over 7%.
Military-industrial stocks led the charge, with China Shipbuilding's stock rising over 7%. Shandong Securities (002500) stated that with the start of the "Fifteenth Five-Year Plan" and the approaching centennial military target in 2027, the performance of the military-industrial sector is expected to bottom out and rebound in the second half of 2025.
The concept of iPhones surged, with BYD Electronics (002594) rising over 6%. Internal information from German phone supplier suggests that Apple's iPhone17 series release will likely be held on September 9th (Beijing time). Previously, Bloomberg reporter Mark Gurman had predicted that Apple would release the iPhone17 series around September 8th and that September 9th or 10th is most likely.
Coal stocks rose sharply, with China Shenhua (601088) rising over 3%. On August 1st, China Shenhua announced that it will issue shares and pay cash to purchase coal-related assets from the state-owned energy group, which will also raise matching funds. Chief analyst for coal and transportation at Zheshang Securities, Du Chong, stated that this restructuring will have a profound impact on the coal industry, demonstrating the "policy guidance and marketization" model that highlights China's unique industrial chain integration innovation path.
Innovative drug concepts opened high and closed low, with Kan Yao falling nearly 5%. Morgan Stanley stated that overseas companies are being attracted to China's assets through three core advantages - solid research capabilities for discovering and developing innovative drugs, faster drug development speeds, improved intellectual property protection, and more recognition from FDA and EMA.
Source: Sina News