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Market quick glance | The three major Indices showed mixed results, with the tech index slightly rising, Xiaomi and Tencent increasing nearly 3%; Semiconductors stocks were strong, with Semiconductor Manufacturing International Corporation rising over 8%;
Network Technology stocks performed poorly, KUAISHOU-W fell by 5.42%, Alibaba-W dropped by 3.44%; most Coal Industrial Concept stocks declined, SOUTHGOBI fell by 12.02%, China Coal Energy dropped by 6.37%; many Hong Kong Retail Stocks fell, PRADA decreased by 3.80%, BOSSINI INT'L dropped by 3.48%;
EssilorLuxottica: Prada Group and EssilorLuxottica Announce Ten-years Licensing Renewal
Quick look at the Hong Kong market | All three major Indices closed higher, the Science and Technology Index rose nearly 2%; technology, Autos, and Biotechnology stocks climbed, with Li Auto rising over 5%, and Xiaomi Group and WUXI BIO rising nearly 3%.
Many Network Technology stocks are rising, XIAOMI-W is up 2.84%, Baidu Group-SW is up 1.74%; Semiconductor stocks are all rising, HG SEMI is up 7.64%, BEKE is down 2.78%; Autos stocks are climbing, LEAPMOTOR is up 6.42%, BRILLIANCE CHI is up 6.29%;
Hong Kong stock midday review | All three indices rose, the Technology Index up over 1%; Autos, power, and Semiconductor stocks increased, with Li Auto and CHINA LONGYUAN rising nearly 4%, and Semiconductor Manufacturing International Corporation up over
Network Technology stocks are generally rising, XIAOMI-W is up 2.17%, SENSORY-W is up 2.03%; Electric Power stocks are all going up, HUADIAN POWER is up 4.53%, CHINA LONGYUAN is up 3.86%; Hong Kong Retail Stocks are generally rising, BOSSINI INT'L is down 6.78%, PRADA is up 2.59%;
Morgan Stanley: Maintains PRADA (01913) 'Shareholding' rating with Target Price raised to 69 Hong Kong dollars.
Morgan Stanley continues to expect that PRADA's profit performance will outperform the market, noting that the group's growth outlook is positive.
MORGAN STANLEY anticipates that PRADA (01913.HK) will continue to outperform the market and has raised the Target Price to 69 yuan.
Morgan Stanley released a research report, continuing to expect that PRADA (01913.HK) will outperform the market in terms of profit performance, pointing out that the group's growth prospects are positive, primarily benefiting from the outstanding performance of its brand Miu Miu. Currently, Morgan Stanley has raised its forecast for PRADA Group's fourth-quarter organic sales growth calculated at constant exchange rates (CER) from 9.4% to 12.9%, compared to the market expectation of an 11.4% growth. The group's retail revenue growth forecast at CER has been adjusted from 10.8% to 14%, and the EBIT forecast for the second half of this year has been slightly raised to 0.677 billion euros. The firm believes this trend will continue in the foreseeable future.
