On May 20th, the three major Hang Seng stock indices in Hong Kong rose with fluctuations! As of the close, the Hang Seng Index increased by 0.42%, the China Enterprises Index increased by 0.44%, and the Hang Seng Technology Index increased by 0.55%.

Looking at the sectors, gold stocks and other non-ferrous metal stocks saw a comprehensive surge. Among them, Lingbao Gold (03330.HK) rose by 13.41%, China Gold International (02099.HK) rose by 7.96%, Zijin Mining (02899.HK) rose by 4.91%, Zhaojin Mining (01818.HK) rose by 4.69%, and Shandong Gold (01787.HK) rose by 4.2%.

In terms of news, the expectation of the Federal Reserve cutting interest rates this year has intensified, coupled with the resurgence of geopolitical risks in the Middle East, which has provided support for precious metal prices. Traders have increased their bets on the earliest possible rate cut by the Federal Reserve in September in recent trading days. On the morning of May 20th in the Asian market, metal prices exploded across the board. Among them, spot gold touched 2450 USD/ounce, rising by 1.5% during the day, continuing to set a new historical high; spot silver stood above the 32 USD/ounce mark, continuing to set a new high in 11 years, rising by 1.9% during the day.

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Airline stocks rose collectively, with Air China (00753.HK) up by 6.27%, China Southern Airlines Company (01055.HK) up by 5.06%, Beijing Capital International Airport Company (00694.HK) up by 4.29%, and China Eastern Airlines (00670.HK) up by 4.19%.

Huatai Securities stated that April is still the off-season for civil aviation, coupled with extreme weather in the South China region, which has led to a contraction in the input of airline capacity on a month-on-month basis. However, the load factor has marginally improved compared to the low point in March. The bank pointed out that looking forward, the tightening of civil aviation supply is highly predictable, and with the recovery of international routes, it will help to increase aircraft utilization, spread fixed costs, and promote the balance of domestic and international capacity, thereby driving the improvement and realization of the prosperity of the aviation sector.

The e-commerce 618 event is approaching, and sports goods also performed strongly today. Among them, Li Ning (02331.HK) rose by 7.27%, leading the sports goods sector. Anxin International previously pointed out that the company's performance in the first quarter basically met market expectations, and the full-year guidance will also be maintained. In the first quarter of 2024, the company's offline channel inventory turnover was 4-4.5 months, with about 80% of new products in 6 months, and the channel inventory is in a healthy state, with a good age structure. As the inventory level returns to a healthy state, the bank believes that the company's growth will return to a stable level. With the arrival of the Paris Olympics, the company will also carry out a series of marketing activities to increase brand visibility. Among other concept stocks, Anta International (02020.HK) rose by 2.8%, Top Sports (06110.HK) rose by 1.41%, and Xtep International (01368.HK) rose by 1.35%.

Gas stocks, power stocks, green electricity concepts, and nuclear power stocks all turned red. China Gas (00384.HK) rose by 5.66%, Datang Power (00991.HK) rose by 3.73%, China Power (02380.HK) rose by 2.86%, and China Resources Power (00836.HK) rose by 2.09%.

In addition, other well-performing stocks include automobile stocks, lithium battery stocks, and Tesla concept stocks. Among the constituent stocks, XPeng Inc. (09868.HK) rose by 7.54%, Zerorun (09863.HK) rose by 6.71%, and Li Auto (02015.HK) rose by 4.17%.

On the list of decliners, some home appliance stocks weakened. Haier Smart Home (06690.HK) fell by 4.17%, Hisense Home Appliances (00921.HK) fell by 2.17%, and JS Global Living (01691.HK) fell by 1.94%.Education stocks experienced a collective pullback, with China Education Group Holdings (00839.HK) falling 2.63%, China Eastern Education (00667.HK) dropping 1.85%, and New Oriental Education & Technology Group (09901.HK) declining 1.64%. Other underperforming sectors included building materials and cement stocks, real estate stocks, property management stocks, high-speed rail infrastructure stocks, and heavy machinery stocks, which also saw downward trends.

In terms of popular stocks, Xindong Company (02400.HK) rose by 8.58% again, with its stock price accumulating a 144.63% increase since February. On the news front, Xindong Company's self-developed adventure idle mobile game "Let's Go, Muffin" was officially launched in the domestic market on May 15th. After the game was made available for pre-download, it reached the highest ranking on the iOS overall chart and the free game chart, and received prominent recommendations on the Apple APP Store's homepage. As of May 15th, "Let's Go, Muffin" had reached 500,000 downloads on the TapTap platform.

Suteng JuChuang (02498.HK) once surged nearly 90%, with a closing increase of 45.86%. On the news front, on May 17th, the Hang Seng Index Company announced the latest quarterly review results, in which Suteng JuChuang was included in the Hang Seng Composite Index, with the changes to take effect from June 11th.