港股收评：探底回升！新消费股涨势继续，半导体股低迷

Market Overview - The Hong Kong stock market showed a rebound after hitting a low, with the Hang Seng Index closing up 0.18% at 26,696 points, the Hang Seng China Enterprises Index up 0.19%, and the Hang Seng Tech Index up 0.15% [1][2] - Overall market sentiment remained stable, with various sectors experiencing mixed performances [1] Sector Performance - Large tech stocks had mixed results, with Baidu rising over 2%, while Alibaba, Bilibili, and Meituan fell over 1% [4] - Consumer stocks, including retail, pork, and dining sectors, continued to rise, while semiconductor stocks generally performed weakly [2][4] - The film industry saw significant gains, with Huayi Brothers rising over 16% and Cat's Eye Entertainment up over 5%, driven by upcoming film releases [6][7] Investment Insights - The AI technology investment landscape is growing, with expectations for significant capital expenditure increases among major tech firms [4] - New consumption trends are emerging, focusing on brand expansion, emotional value, functional value, and channel transformation [5] - The aviation sector is expected to enter a super cycle, with high passenger load factors and low ticket prices driving profitability [9] Notable Stock Movements - Xpeng Motors surged over 17%, while other new consumption stocks like Nayuki Tea and Xiaomi also saw gains [6][5] - Property management and real estate stocks strengthened, with Kaisa Group rising over 5% [8] - Semiconductor stocks faced declines, with Huahong Semiconductor down over 3% and SMIC down over 2% [10] Capital Flows - Southbound funds recorded a net inflow of HKD 4.467 billion, indicating strong interest in Hong Kong stocks [12] Future Outlook - Analysts suggest that the Hong Kong market may reach new highs in the medium term, driven by increased capital inflows and the concentration of quality assets [13]