港股5月开门红，恒生科技指数涨3.08%

Market Performance - The Hang Seng Index rose by 1.74% to close at 22,504.68 points on May 2, with the Hang Seng Technology Index increasing by 3.08% to 5,244.06 points, and the Hang Seng China Enterprises Index up by 1.92% [2] - The market saw a cumulative increase of over 2% for the Hang Seng Index this week, marking the third consecutive week of gains, while the Hang Seng Technology Index rose over 5%, indicating a second consecutive week of growth [2] - Major technology stocks performed well, with Alibaba up by 3.83%, Tencent by 2.22%, and Xiaomi by 6.31% [2] Industry Highlights - The electric vehicle sector saw significant gains, with Li Auto rising by 3.57%, Xpeng by 6.66%, and BYD by 3.3% [3] - Apple-related stocks also experienced a rally, with Weishi Jiajie up by 7.39% and Sunny Optical Technology up by 3.59% [3] - The tea beverage sector continued its upward trend, with Nayuki's Tea increasing by 8.85% [3] Economic and Policy Context - The impact of tariff policies has diminished, leading to a recovery in global stock indices, with the Hang Seng market showing signs of positive sentiment [5] - The Chinese government is expected to implement additional fiscal policies ranging from 1 trillion to 3 trillion yuan to support economic growth amid external pressures [6] - UBS anticipates that the People's Bank of China may lower reserve requirements by 100 to 200 basis points and interest rates by 30 to 50 basis points within the next 12 months [6] Investment Recommendations - The investment strategy suggested by CMB International focuses on a balanced allocation of "high elasticity + high dividend" to navigate uncertainties, particularly favoring AI and technology sectors [6] - Defensive state-owned enterprises in finance, energy, telecommunications, and utilities are recommended for their resilience against tariff and economic growth risks [6]