港股收评：三大指数均涨超2%，半导体板块强势，医疗美容股走低

Market Overview - The Hong Kong stock market showed a strong upward trend, recovering all losses for the month, with the Hang Seng Index rising by 550 points to close at 26,485 points, while the Hang Seng Tech Index increased by 2.74% [1] - The market sentiment improved significantly, with major indices such as the Hang Seng Index and the Hang Seng China Enterprises Index rising by 2.12% and 2.1%, respectively [1] Sector Performance - The technology sector, a market bellwether, saw collective gains, with significant increases in semiconductor and non-ferrous metal sectors. China Aluminum surged over 11%, and China Hongqiao reached a historical high [2][6] - The semiconductor sector experienced notable growth, with stocks like Hua Hong Semiconductor rising over 9% and SMIC increasing by over 7% [4][6] - The hydrogen energy sector also performed well, with Weichai Power increasing by over 20% following a production licensing agreement with Ceres Power [10][9] - The insurance sector saw gains, with New China Life and China Life both rising nearly 5%, and China Ping An increasing over 3% [12] - Conversely, the publishing sector faced declines, with Huatai Securities dropping over 17% and other media stocks also falling [13] Key Company Highlights - Alibaba's stock rose by 4.1%, closing at 165.00, while JD.com and Midea Group increased by 3.34% and 3.08%, respectively [4] - New China Life reported a revenue of 137.25 billion yuan for the first three quarters of 2025, marking a 28.3% year-on-year increase, with a net profit of 32.86 billion yuan, up 58.9% [11] - In the semiconductor sector, Hua Hong Semiconductor and SMIC led the gains, reflecting strong demand driven by AI applications [5][6] Investment Sentiment - Analysts suggest that the storage chip sector is poised for a "super cycle" due to strong demand from AI servers, which use DRAM and NAND chips at significantly higher rates than standard servers [5] - Despite a generally weak fundamental outlook for the Hong Kong market, there is cautious optimism regarding mid-term trends, with a focus on technology innovation and domestic demand expansion [16]