Top Stock Gainers and Losers of August 2023

Developer Country Garden tanked 44%, but the biggest loser was STAR CM, the producer of the Voice of China.

Kate Lin 04 September, 2023 | 11:21
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Top Hong Kong Large-Cap Stock Gainers in August 2023

MINISO Group (09896) advanced 26.14% in August 2023, bringing its year-to-date return to 144.74%. Shares of the China-based lifestyle product retailer are trading at its peak since its listing in Hong Kong in July 2022.

BYD Electronic (00285) specializes in manufacturing handset components and modules and ranks second this month. After climbing 21.57% in August, shares of BYD Electronics rose 45.93% year to date and ended the month at its 52-week peak. Its parent BYD (01211), a Chinese automaker, saw a weaker performance as its shares were down 10.81% for August but up 28.28% so far this year. The No-moat company ended the month with a 4-star rating, trading a 20% discount.

Wuxi AppTec (02359) climbed 16.79%, leaving the stock up 5.83% for the year. Its sister company Wuxi Biologics (02269) gave out a flat return in August and slumped 26.23% for the year. Trading 43% below its fair value estimate of HK$ 77, Wuxi Biologics is a 4-star stock.

L'Occitane International (00973)’s controlling shareholder and chairman confirmed to move forward a plan to take the company private. The market reacted positively, and shares of the French skincare company rose 16.32% in August. Its performance so far this year was 14.17%.

Shares of Chinese toy seller Pop Mart International Group (09992) rose 16.17% for the month and 29.39% so far this year.

Top Hong Kong Large-Cap Stock Losers in August 2023

As its singing reality show has come under intense scrutiny, Chinese media production company STAR CM (06698) slumped 79.65% in August, delivering the worst return among all Hong Kong large-cap stocks. Shares declined by 50.84% year to date.

Currency trading and payment company MOG Digitech (01942) tanked 59.16% in August after shares skyrocketed by more than 800% in the first seven months of 2023. The stock slumped to HK$ 40.00 in the last trading hours before the month ended from HK$95.25, a level near its historical high.

Troubled developed Country Garden Holdings (02007) failed to meet coupon payments for two of its U.S. dollar bonds early August. During the month, the homebuilder posted a record first-half loss of almost US$7 billion. To avoid a default, the company sought payment extensions with its Renminbi creditors, and announced its equity issuance plan to avoid default. Shares in Country Garden plummeted 43.67% in August and was down 66.67% for the year.

ENN Energy Holdings (02688), a gas utility company in China, saw its shares sliding 34.40% in August and it is down 41.82% from the start of the year. The Narrow moat-rated company is trading in its 4-star price range, or a 43% discount.

Lufax Holding (06623), a personal financial services platform in China, fell 31.80% in August. The company, which listed as an ADR class on the New York Stock Exchange in 2020, was dual listed in Hong Kong in April this year. Shares are more than 40% below its debut price at HK$ 33.50.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
BYD Co Ltd Class H205.20 HKD-1.44Rating
BYD Electronic (International) Co Ltd24.75 HKD-3.88
Country Garden Holdings Co Ltd0.49 HKD1.04Rating
Country Garden Services Holdings Co Ltd4.40 HKD-2.44Rating
ENN Energy Holdings Ltd62.45 HKD-3.70Rating
L'Occitane International SA29.50 HKD-3.59Rating
Lufax Holding Ltd16.34 HKD-2.04
MINISO Group Holding Ltd39.50 HKD-6.18
MOG Digitech Holdings Ltd0.86 HKD-6.52
Pop Mart International Group Ltd Ordinary Shares30.25 HKD-2.42
STAR CM Holdings Ltd4.47 HKD3.71
Wuxi AppTec Co Ltd32.80 HKD-3.81
WuXi Biologics (Cayman) Inc13.04 HKD-3.98Rating

About Author

Kate Lin

Kate Lin  is an Editor for Morningstar Asia, and is based in Hong Kong

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