<Research>Daiwa Keeps Outperform on POWER ASSETS w/ TP Lifted to HKD57.8; 1H Results in Line
POWER ASSETS Performance: POWER ASSETS reported growth in its 1H25 results, driven by its UK business, leading Daiwa to maintain an Outperform rating and raise the target price from HKD55 to HKD57.8.
UK Rails Sale Agreement: The company confirmed the sale of its UK Rails business, expected to be completed by the end of 2025, which has led to an increase in earnings forecasts for 2025 due to anticipated disposal gains.
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<Daily Summary> HSI Ends at 26,834, Gaining 59 Points; HSTI Finishes at 5,467, Losing 59 Points; CSPC PHARMA Surges Over 8%; NEW ORIENTAL, HSBC HOLDINGS, MTR CORPORATION, POWER ASSETS, CIMC Reach New Peaks; Market Turnover Increases
Market Performance: The HSI rose by 59 points (0.2%) to 26,834, while the HSTI and HSCEI fell by 59 points (1.1%) and 27 points (0.3%) respectively, with a total market turnover of $335.15 billion.
Active Heavyweights: Major stocks like Tencent, Meituan, and Alibaba saw declines, with Tencent closing down 2.9% at $581, while Ping An was the only heavyweight to gain, closing up 0.8% at $71.3.
Notable Movers: CSPC Pharma and New Oriental experienced significant gains, rising 8.1% and 6.4% respectively, while Kuaishou-W and Baidu-SW faced notable declines, down 4.6% and 3.6%.
High Performers: CIMC and Wanguo Gold GP were standout performers, with CIMC surging 15% and Wanguo Gold GP increasing by 13.6%, both hitting new highs.
<Midday Update> HSI Ends Midday at 26,830, Gaining 54 Points; HSTI Ends Midday at 5,453, Losing 72 Points; TENCENT Falls More Than 3%; MTR CORPORATION, POWER ASSETS, CIMC, ZOOMLION, FIH Reach New Peaks
Market Performance: The HSI rose by 54 points (0.2%) to 26,830, while the HSTI and HSCEI fell by 72 points (1.3%) and 19 points (0.2%) respectively.
Active Heavyweights: Major stocks like Tencent, Alibaba, and Meituan experienced declines, with Tencent down 4.0% and Alibaba down 2.3%, while Ping An saw a slight increase of 0.9%.
Notable Movers: CSPC Pharma and CKH Holdings saw significant gains, up 3.5% and 3.4% respectively, while Kuaishou-W dropped 5.1%.
High Performers: Stocks like Fangzhou Jianke and CIMC achieved notable increases of 15.3% and 16.1%, reaching new highs in their respective performances.
<Daily Summary> HSI Ends at 26,749, Gaining 119 Points; HSTI Finishes at 5,798, Up 35 Points; XINYI SOLAR Surges Over 11%; MTR CORPORATION, CKH HOLDINGS, POWER ASSETS, MMG, MORIMATSU INTL Reach New Peaks; Market Turnover Increases
Market Performance: The Hang Seng Index (HSI) rose by 119 points (0.4%) to close at 26,749, with a total market turnover of $240.87 billion.
Active Heavyweights: Notable stock movements included Xiaomi (+2.8%), Alibaba (+2.2%), and HKEX (-1.0%), with significant short selling activity across these stocks.
Top Gainers: Xinyi Solar surged by 11.1%, Pop Mart increased by 6.6%, and New Oriental rose by 3.8%, all showing strong performance among HSI and HSCEI constituents.
High Performers in HSMI & HSSI: MMG and Flat Glass both saw significant gains of 11.5% and 10.4%, respectively, with several stocks hitting new highs during the trading session.
<Daily Summary> HSI Ends at 26,585, Gaining 97 Points; HSTI Finishes at 5,746, Up 62 Points; ANTA SPORTS Declines by More than 4%; BIDU-SW, MTR CORPORATION, POWER ASSETS, SINOPEC CORP, and CLP HOLDINGS Reach New Peaks; Market Turnover Increases
Market Performance: The Hang Seng Index (HSI) rose by 97 points (0.4%) to close at 26,585, while the Hang Seng Tech Index (HSTI) increased by 62 points (1.1%) to 5,746, with a total market turnover of $250.45 billion.
Active Heavyweights: Notable movements included Alibaba (BABA) up 2.2% to $163.2, Tencent (TENCENT) up 0.2% to $602.5, and Xiaomi (XIAOMI) down 0.2% to $35.42, with significant short selling activity across these stocks.
HSI & HSCEI Constituents: Anta Sports (ANTA) fell 4.2% to $79.1, while SMIC (SMIC) and Kuaishou (KUAISHOU) saw gains of 3.7% and 3.6%, respectively, indicating mixed performance among constituents.
HSMI & HSSI Constituents: Skyworth (SKYWORTH) surged 37.5% to $7.12, marking a new high, alongside other significant gainers like SF Intra-City (up 20.5%) and TCL Electronics (up 14.8%), reflecting strong upward trends in certain sectors.
BofAS Begins Coverage of POWER ASSETS with Buy Rating and HKD63 Price Target, Expects Growth in Interim Dividends
BofA Securities Coverage: BofA Securities has initiated coverage on POWER ASSETS (00006.HK) with a Buy rating and a target price of HKD63, anticipating a 6% CAGR in earnings from FY24-27 due to regulatory changes enhancing returns on Australian assets.
Dividend Growth Potential: The report suggests that operating capital growth will surpass dividend growth, potentially increasing interim dividends, with a forecasted dividend yield of 5% for 2026, the highest among its Hong Kong peers.
Midday Summary: HSI Ends at 26,158, Gaining 8 Points; HSTI at 5,674, Dropping 3 Points; XINYI SOLAR Falls Over 3%; CKI HOLDINGS, POWER ASSETS, ZHAOJIN MINING, CIMC ENRIC, ANE Reach New Peaks
Market Performance: The HSI rose slightly by 8 points to 26,158, while the HSTI and HSCEI experienced minor declines and gains, closing at 5,674 and 9,042 respectively.
Active Heavyweights: BABA saw a notable increase of 2.8% to close at $146.6, while Meituan, Tencent, Ping An, and Xiaomi all experienced declines in their stock prices.
Constituents on the Move: Xinyi Solar and CKI Holdings had contrasting performances, with Xinyi Solar down 3.1% and CKI Holdings up 2.2%, reaching a new high.
HSMI & HSSI Highlights: Zhaojin Mining and CIMC Enric both achieved significant gains, with Zhaojin Mining up 3.9% and CIMC Enric up 3.1%, both hitting new highs.
<Daily Summary> HSI Ends at 26,834, Gaining 59 Points; HSTI Finishes at 5,467, Losing 59 Points; CSPC PHARMA Surges Over 8%; NEW ORIENTAL, HSBC HOLDINGS, MTR CORPORATION, POWER ASSETS, CIMC Reach New Peaks; Market Turnover Increases
Market Performance: The HSI rose by 59 points (0.2%) to 26,834, while the HSTI and HSCEI fell by 59 points (1.1%) and 27 points (0.3%) respectively, with a total market turnover of $335.15 billion.
Active Heavyweights: Major stocks like Tencent, Meituan, and Alibaba saw declines, with Tencent closing down 2.9% at $581, while Ping An was the only heavyweight to gain, closing up 0.8% at $71.3.
Notable Movers: CSPC Pharma and New Oriental experienced significant gains, rising 8.1% and 6.4% respectively, while Kuaishou-W and Baidu-SW faced notable declines, down 4.6% and 3.6%.
High Performers: CIMC and Wanguo Gold GP were standout performers, with CIMC surging 15% and Wanguo Gold GP increasing by 13.6%, both hitting new highs.
<Midday Update> HSI Ends Midday at 26,830, Gaining 54 Points; HSTI Ends Midday at 5,453, Losing 72 Points; TENCENT Falls More Than 3%; MTR CORPORATION, POWER ASSETS, CIMC, ZOOMLION, FIH Reach New Peaks
Market Performance: The HSI rose by 54 points (0.2%) to 26,830, while the HSTI and HSCEI fell by 72 points (1.3%) and 19 points (0.2%) respectively.
Active Heavyweights: Major stocks like Tencent, Alibaba, and Meituan experienced declines, with Tencent down 4.0% and Alibaba down 2.3%, while Ping An saw a slight increase of 0.9%.
Notable Movers: CSPC Pharma and CKH Holdings saw significant gains, up 3.5% and 3.4% respectively, while Kuaishou-W dropped 5.1%.
High Performers: Stocks like Fangzhou Jianke and CIMC achieved notable increases of 15.3% and 16.1%, reaching new highs in their respective performances.
<Daily Summary> HSI Ends at 26,749, Gaining 119 Points; HSTI Finishes at 5,798, Up 35 Points; XINYI SOLAR Surges Over 11%; MTR CORPORATION, CKH HOLDINGS, POWER ASSETS, MMG, MORIMATSU INTL Reach New Peaks; Market Turnover Increases
Market Performance: The Hang Seng Index (HSI) rose by 119 points (0.4%) to close at 26,749, with a total market turnover of $240.87 billion.
Active Heavyweights: Notable stock movements included Xiaomi (+2.8%), Alibaba (+2.2%), and HKEX (-1.0%), with significant short selling activity across these stocks.
Top Gainers: Xinyi Solar surged by 11.1%, Pop Mart increased by 6.6%, and New Oriental rose by 3.8%, all showing strong performance among HSI and HSCEI constituents.
High Performers in HSMI & HSSI: MMG and Flat Glass both saw significant gains of 11.5% and 10.4%, respectively, with several stocks hitting new highs during the trading session.
<Daily Summary> HSI Ends at 26,585, Gaining 97 Points; HSTI Finishes at 5,746, Up 62 Points; ANTA SPORTS Declines by More than 4%; BIDU-SW, MTR CORPORATION, POWER ASSETS, SINOPEC CORP, and CLP HOLDINGS Reach New Peaks; Market Turnover Increases
Market Performance: The Hang Seng Index (HSI) rose by 97 points (0.4%) to close at 26,585, while the Hang Seng Tech Index (HSTI) increased by 62 points (1.1%) to 5,746, with a total market turnover of $250.45 billion.
Active Heavyweights: Notable movements included Alibaba (BABA) up 2.2% to $163.2, Tencent (TENCENT) up 0.2% to $602.5, and Xiaomi (XIAOMI) down 0.2% to $35.42, with significant short selling activity across these stocks.
HSI & HSCEI Constituents: Anta Sports (ANTA) fell 4.2% to $79.1, while SMIC (SMIC) and Kuaishou (KUAISHOU) saw gains of 3.7% and 3.6%, respectively, indicating mixed performance among constituents.
HSMI & HSSI Constituents: Skyworth (SKYWORTH) surged 37.5% to $7.12, marking a new high, alongside other significant gainers like SF Intra-City (up 20.5%) and TCL Electronics (up 14.8%), reflecting strong upward trends in certain sectors.
BofAS Begins Coverage of POWER ASSETS with Buy Rating and HKD63 Price Target, Expects Growth in Interim Dividends
BofA Securities Coverage: BofA Securities has initiated coverage on POWER ASSETS (00006.HK) with a Buy rating and a target price of HKD63, anticipating a 6% CAGR in earnings from FY24-27 due to regulatory changes enhancing returns on Australian assets.
Dividend Growth Potential: The report suggests that operating capital growth will surpass dividend growth, potentially increasing interim dividends, with a forecasted dividend yield of 5% for 2026, the highest among its Hong Kong peers.
Midday Summary: HSI Ends at 26,158, Gaining 8 Points; HSTI at 5,674, Dropping 3 Points; XINYI SOLAR Falls Over 3%; CKI HOLDINGS, POWER ASSETS, ZHAOJIN MINING, CIMC ENRIC, ANE Reach New Peaks
Market Performance: The HSI rose slightly by 8 points to 26,158, while the HSTI and HSCEI experienced minor declines and gains, closing at 5,674 and 9,042 respectively.
Active Heavyweights: BABA saw a notable increase of 2.8% to close at $146.6, while Meituan, Tencent, Ping An, and Xiaomi all experienced declines in their stock prices.
Constituents on the Move: Xinyi Solar and CKI Holdings had contrasting performances, with Xinyi Solar down 3.1% and CKI Holdings up 2.2%, reaching a new high.
HSMI & HSSI Highlights: Zhaojin Mining and CIMC Enric both achieved significant gains, with Zhaojin Mining up 3.9% and CIMC Enric up 3.1%, both hitting new highs.
