智通财经网·2026-01-29 01:40Group 1 - The Hang Seng Index opened down 0.72% and the Hang Seng Tech Index fell 0.79%, with strong performance in the precious metals sector, particularly Chifeng Jilong Gold Mining up over 6% and Shandong Gold up over 4%, while lithium stocks weakened with Ganfeng Lithium and Tianqi Lithium down about 2% [1] - Guotai Junan Strategy suggests that with low macro risks in AI investment and a global manufacturing recovery, more industries may see improved conditions, leading investors to focus more on growth rates rather than dividend yields, indicating a preference for fundamental resilience in sector selection [1] - Huatai Strategy forecasts a more than 4% appreciation of the RMB against the USD by 2025, driven by factors such as expanding trade surpluses and capital inflows into Chinese assets, with historical data showing that during RMB appreciation, AH equities typically perform well, and Hong Kong stocks are more sensitive [1] Group 2 - CITIC Securities anticipates that the spring market rally for Hong Kong stocks, which began in late December 2025, will continue into February, with large-cap stocks expected to yield relative returns and growth sectors supported by policy performing better [2] - The report highlights three main investment themes to focus on in the short term: 1) "14th Five-Year Plan" policy directions including biomanufacturing, embodied intelligence, and 6G core stocks; 2) recovery in expectations for delivery platforms and real estate driven by policy; 3) non-bank sectors benefiting from spring market enthusiasm [2]