每日港股評析 港股早晨快訊 2025 年 4 月 28 日星期一 2012-01- 17 市場回顧 中港股市短期展望 恒指初步阻力參考 23,000 點：美國總統特朗普早前宣布，對部分國家暫 停實施新關稅，為期 90 天，但對中國進口產品徵收的關稅則大幅提高。 據報中央將召開會議，討論促進經濟增長及穩定資本市場的措施，李強亦 表示將根據需要及時推新增量政策，以有力政策應對外部不確定性。市場 預期中央將加大力度穩經濟，第三季將額外發債，以刺激國內需求並減輕 關稅打擊，同時憧憬在人民銀行的支持下，「國家隊」將加大力度入市， 並要求國企加大回購規模，以穩定市場。近日美國或轉軚，特朗普表示將 大減對華關稅，白宮發言人表示，美中就達成潛在貿易協議方面的進展順 利，恒指初步阻力參考 23,000 點。 ➢ 內需股：憧憬政策更大力度支持消費 今日市場焦點 ➢ 香港3月進出口；江西銅(0358)、藥明康德(2359)等季績； 國新辦穩就業穩經濟發布會； 宏觀焦點 ➢ 政治局會議：統籌國內經濟工作和國際經貿鬥爭，根據形勢變化及時 推出增量儲備政策； 政治局會議：適時降準降息 持續穩定和活躍資本市場； 內地第一季工業利潤升0.8 ...

市場回顧 中港股市短期展望 恒指初步阻力參考 23,000 點：美國總統特朗普早前宣布，對部分國家暫 停實施新關稅，為期 90 天，但對中國進口產品徵收的關稅則大幅提高。 據報中央將召開會議，討論促進經濟增長及穩定資本市場的措施，李強亦 表示將根據需要及時推新增量政策，以有力政策應對外部不確定性。市場 預期中央將加大力度穩經濟，第三季將額外發債，以刺激國內需求並減輕 關稅打擊，同時憧憬在人民銀行的支持下，「國家隊」將加大力度入市， 並要求國企加大回購規模，以穩定市場。近日美國或轉軚，特朗普表示將 大減對華關稅，白宮發言人表示，美中就達成潛在貿易協議方面的進展順 利，恒指初步阻力參考 23,000 點。 短期看好板塊 每日港股評析 港股早晨快訊 2025 年 4 月 25 日星期五 2012-01- 17 ➢ 內需股：憧憬政策更大力度支持消費 今日市場焦點 企業消息 ➢ 滬上阿姨及綠茶集團齊通過上市聆訊； 博雷頓(1333)今日(25日)起招股，集資最多2.3億元； 京東集團(9618)據報擬發15億元人民幣境內定向債務融資工具； 泡泡瑪特(9992)擬今年底在美出售貨全由越南廠生產； 周大福(1929)上季港 ...

短期看好板塊 ➢ 出口股：憧憬美國下調對華關稅，短期有利出口相關股反彈 今日市場焦點 企業消息 每日港股評析 港股早晨快訊 2025 年 4 月 24 日星期四 2012-01- 17 市場回顧 中港股市短期展望 恒指上試 23,000 點：美國總統特朗普早前宣布，對部分國家暫停實施新 關稅，為期 90 天，但對中國進口產品徵收的關稅則大幅提高。據報中央 將召開會議，討論促進經濟增長及穩定資本市場的措施，李強亦表示將根 據需要及時推新增量政策，以有力政策應對外部不確定性。市場預期中央 將加大力度穩經濟，第三季將額外發債，以刺激國內需求並減輕關稅打擊， 同時憧憬在人民銀行的支持下，「國家隊」將加大力度入市，並要求國企 加大回購規模，以穩定市場。近日美國或轉軚，特朗普表示將大減對華關 稅，白宮發言人表示，美中就達成潛在貿易協議方面的進展順利，有利恒 指挑戰 23,000 點。 頁 1 / 7 ➢ 騰訊控股(0700)混元3D再升級，實現超高清幾何建模； 比亞迪股份(1211)據報戰略失誤，全面整改歐洲業務； 天齊鋰業(9696)發盈喜，料第一季轉賺最多1.2億元人民幣； 金沙(1928)首季淨收入跌32%；新東方 ...

每日港股評析 港股早晨快訊 2025 年 4 月 23 日星期三 2012-01- 17 市場回顧 中港股市短期展望 恒指反彈料受制 22,000 點：美國總統特朗普宣布，對部分國家暫停實施 新關稅，為期 90 天，但對中國進口產品徵收的關稅提高至 125%。據報 中央將召開會議，討論促進經濟增長及穩定資本市場的措施，李強亦表示 將根據需要及時推新增量政策，以有力政策應對外部不確定性。市場預期 中央將加大力度穩經濟，第三季將額外發債，以刺激國內需求並減輕關稅 打擊，同時憧憬在人民銀行的支持下，「國家隊」將加大力度入市，並要 求國企加大回購規模，以穩定市場。不過，中美貿易緊張料續困擾投資情 緒及打擊企業盈利，除非中美最終就貿易衝突重啟談判，否則恒指反彈料 受制 22,000 點。 短期看好板塊 今日市場焦點 ➢ 美國4月標普全球製造業及服務業PMI； 頁 1 / 8 宏觀焦點 ➢ IMF調低中美日及全球經濟增長預測； 李強據報去信石破茂籲攜手應對美國關稅措施； 外管局指美所謂對等關稅下人民幣滙率雙向浮動，保持相對穩定； 內地保險預定利率上限或下降；內地第一季新能源車出口增27%； 騰訊控股成內地公募基金首季「頭 ...

Market Overview - The Hang Seng Index is expected to face resistance at 22,000 points due to increased tariffs on Chinese imports by the US, which have risen to 125% [2] - The Chinese government is anticipated to implement measures to stimulate economic growth and stabilize the capital market, including additional bond issuance in Q3 [2][3] - The US Federal Reserve has maintained interest rates but is expected to reduce rates twice this year, with a total reduction of 50 basis points [3][5] Economic Indicators - China's GDP growth for Q1 was reported at 5.4%, surpassing market expectations of 5.2% [6] - The retail sales in China for Q1 reached 12.47 trillion yuan, growing by 4.6% year-on-year, also exceeding expectations [6] - Fixed asset investment in China for Q1 was 10.32 trillion yuan, with a year-on-year growth of 4.2% [6] Corporate News - Xiaomi has become the top smartphone vendor in China for Q1, with a shipment of 13.3 million units, marking a 39.9% year-on-year increase [7] - China Southern Airlines is considering an IPO for its logistics subsidiary in Hong Kong, aiming to raise several hundred million dollars [8] - Giant Bio announced a share placement at a 9.5% discount to raise 2.33 billion yuan for business development and working capital [8] Sector Performance - High-yield stocks are favored in the current volatile market as investors seek safe havens amid rising interest rate expectations [3] - The real estate sector in China has seen a decline in new housing sales, with a 2.1% drop in sales value for Q1 [6] - The technology sector, particularly in the smartphone market, continues to show growth, with Xiaomi leading the market [7]

Market Overview - The Hang Seng Index is expected to face resistance at 22,000 points due to increased tariffs on Chinese imports by the US, which have risen to 125% [2] - The Chinese government is anticipated to implement measures to stimulate economic growth and stabilize capital markets, including additional bond issuance in Q3 to boost domestic demand [2][3] - The market sentiment is likely to remain affected by ongoing US-China trade tensions unless negotiations are resumed [2] Corporate News - Xiaomi (1810) achieved a market share of 18% in March, leading the Chinese smartphone market, with a year-on-year activation increase of 17% [4][10] - JD.com is focusing on maintaining a profit margin of no more than 5% for its food delivery services, as stated by founder Liu Qiangdong [10] - XPeng Motors (9868) plans to mass-produce its first flying car next year, with a sales target of 10,000 units [4][10] - CIMC Group (2039) expects a significant increase in net profit for the first quarter, projected to rise by 4.4 to 6.8 times [4] - Baidu (9888) has upgraded its map service and partnered with BYD (1211) for enhanced navigation capabilities [10] Economic Indicators - The US Federal Reserve is expected to maintain interest rates, with predictions of two rate cuts this year totaling 50 basis points, while GDP growth forecasts for 2025 have been lowered from 2.1% to 1.7% [4] - The Chinese government is emphasizing the need to boost domestic consumption and expand internal demand to counter external shocks [3][8] - The industrial and retail data from China for Q1 and March are anticipated to be released soon, which may provide further insights into economic performance [7] Trade Relations - Reports indicate that China has requested domestic airlines to halt the acceptance of Boeing aircraft deliveries amid escalating trade tensions with the US [8] - The US is investigating the import of critical minerals, which may lead to new tariffs if deemed a threat to national security [9] - The trade negotiations between the US and its major partners are expected to take longer than the 90-day tariff suspension period announced by President Trump [9]

Market Overview - The Hang Seng Index is expected to face resistance at 22,000 points due to increased tariffs on Chinese imports and ongoing trade tensions between the US and China [1] - The Chinese government is anticipated to implement measures to stimulate economic growth and stabilize capital markets, including additional bond issuance in Q3 [1] Sector Outlook - High dividend stocks are favored in the current volatile market as investors seek safe havens amid rising expectations for interest rate cuts [2] Macro Focus - China's exports in March increased by 12.4% year-on-year, surpassing expectations, while imports fell by 4.3%, leading to a trade surplus of $102.64 billion [4][7] - The US Federal Reserve maintained interest rates but projected two rate cuts this year, with GDP growth forecasts for 2025 revised down from 2.1% to 1.7% [4] - The US inflation expectations for March reached an 18-month high, indicating rising concerns about stagflation risks [4][7] Company News - Pop Mart (9992) announced a global organizational restructuring to enhance its international strategy [9] - Xiaomi (1810) has postponed the launch of new products, including its electric vehicle, with the investor day rescheduled to June [9] - Shandong Gold (1787) expects a significant profit increase of over 60% for Q1 [9] - Nvidia plans to produce AI supercomputers domestically in the US, projecting a value of $500 billion over five years [9] Economic Data - China's new RMB loans for Q1 were reported at 97.8 billion yuan, exceeding expectations [10] - The US PPI for March showed a year-on-year increase of 2.7%, lower than the previous value of 3.2% [10]

Market Overview - The Hang Seng Index is expected to face resistance at 22,000 points due to increased tariffs on Chinese imports by the US, while the Chinese government is anticipated to implement measures to stabilize the economy and capital markets [1] - The US Federal Reserve is expected to maintain interest rates, with predictions of two rate cuts this year, reflecting rising stagflation risks and increased economic uncertainty [4] Sector Outlook - High-yield stocks are favored in the current volatile market as investors seek safe havens amid rising expectations for interest rate cuts [2] Key Economic Indicators - China's March import and export data is a focal point for market participants [3] Corporate News - 361 Degrees reported a retail sales growth of 10% to 15% for its main brand in the first quarter [10] - Jiumaojiu's same-store daily sales fell by 18.6% to 24.2% year-on-year in the first quarter, indicating ongoing pressure from external factors [10] - China Property Insurance is expected to see a net profit increase of 80% to 100% in the first quarter [11] - The total box office in China has surpassed 25 billion yuan, ranking first globally [10] Financial Market Developments - The US high-yield bond funds experienced record outflows of $9.6 billion due to concerns over the economic impact of tariff policies [8] - The People's Bank of China reported a significant increase in new loans, exceeding expectations, indicating potential easing measures in response to the trade war [9] Strategic Moves - The Chinese government is considering limits on daily net stock sales by hedge funds to support the domestic market [9] - The Hong Kong Stock Exchange is preparing to attract Chinese companies listed abroad to return to the market [10]

Market Overview - The Hang Seng Index is expected to face resistance at 22,000 points due to increased tariffs on Chinese imports by the US, which have risen to 125% [2] - The Chinese government is anticipated to implement additional economic stimulus measures to stabilize the capital market and promote economic growth [2][9] - The market sentiment is likely to be affected by ongoing US-China trade tensions unless negotiations are resumed [2] Sector Outlook - High dividend stocks are favored in the current volatile market as investors seek safe havens amid rising expectations for interest rate cuts [3] Macro Focus - China's CPI fell by 0.1% in March, marking two consecutive months of deflation, while PPI decreased by 2.5%, indicating economic challenges [5][9] - The US CPI rose by 2.4% year-on-year in March, which was below expectations, suggesting a potential slowdown in inflation [10] - The US Federal Reserve is expected to maintain interest rates steady, with two rate cuts anticipated later this year [7] Corporate News - Contemporary Amperex Technology Co., Ltd. (CATL) has received approval to list in Hong Kong, aiming to raise at least $5 billion [6] - Geely Automobile's first-quarter profit is projected to increase by over 2.2 times following changes in accounting policies [6] - Anta Sports has acquired the German brand Jack Wolfskin for $290 million [6] - Prada has purchased Versace for over $1.375 billion [6] - Sunny Optical's smartphone lens shipments fell by 16% in March [6] International Market Outlook - The US is experiencing increased economic uncertainty, with predictions of a potential recession due to tariff impacts [10] - The European Union plans to delay the implementation of retaliatory tariffs against the US for 90 days, allowing for negotiation opportunities [10] - The EU is also seeking to establish a minimum pricing mechanism with China to replace tariffs on electric vehicles [10]

Market Overview - The Hong Kong stock market is expected to test the level of 18,671 points, with the government setting a GDP growth target of around 5% for 2025, aligning with market expectations [1] - The Chinese government is implementing more proactive fiscal policies and moderate monetary easing to boost the real estate and stock markets, as well as to enhance technological innovation and consumer spending [1] - The U.S. has announced a 10% minimum baseline tariff on trade partners, impacting global trade activities, with new tariffs on Chinese imports reaching 34%, exceeding expectations [1] Sector Outlook - High-yield stocks are favored in the current volatile market as investors seek safe-haven assets amid rising expectations for interest rate cuts [2] Economic Indicators - Key economic indicators to watch include China's March CPI and PPI, as well as the U.S. March CPI and core CPI [3] Macro Focus - The U.S. has temporarily suspended new tariffs on certain countries for 90 days while increasing tariffs on Chinese imports to 125% [4] - The Federal Reserve's meeting minutes indicate that tariffs may raise inflation, leading to a more resilient inflation outlook [4] - The WTO estimates that trade tensions between the U.S. and China could reduce bilateral trade by up to 80% [8] - China has raised tariffs on U.S. imports from 34% to 84% in response to U.S. tariff actions [8] - China has placed 12 U.S. entities on an export control list, restricting their ability to engage in trade with China [9] Company News - JD Group is expanding its online retail presence in Europe with a trial launch in London [4] - Huatai Securities and China Galaxy have issued positive earnings forecasts [4] - Prada's acquisition of Versace is reportedly facing negotiation risks [4] External Market Outlook - The U.S. Federal Reserve is expected to maintain interest rates, with two rate cuts anticipated this year totaling 50 basis points [4] - The U.S. stock market rebounded sharply following the announcement of tariff suspensions, with significant gains in major indices [6]