港股速报｜港股高开 贵金属板块早盘反弹 机构观点：黄金长期行情将延续

Core Viewpoint - The Hong Kong stock market experienced a rebound with the Hang Seng Index opening at 26,995.76 points, up by 220.19 points, or 0.82% [2]. Market Performance - The Hang Seng Technology Index opened at 5,563.79 points, increasing by 37.48 points, or 0.68% [4]. - Gold stocks showed a rebound, with companies like Lingbao Gold (HK03330), Luoyang Molybdenum (HK03993), and China Gold International (HK02099) rising over 3%, while Zijin Mining, Shandong Gold, Zhaojin Mining, and Jiangxi Copper gained over 2% [6]. Sector Analysis - According to Guotai Junan, the primary reason for the recent decline in precious metals was the previous irrational surge, leading to profit-taking and increased volatility due to retail leverage [7]. - The medium-term outlook suggests that as the deleveraging process concludes, gold prices may stabilize, with a long-term bullish trend expected due to ongoing global monetary system restructuring and central bank gold purchases [7]. Stock Highlights - Tech stocks generally rose, with NetEase increasing over 3%, Bilibili over 2%, and Alibaba and Kuaishou both up over 1% [6]. - Chinese brokerage stocks were active, with China Merchants Securities rising over 1% [6]. - Chip stocks opened higher, with Zhaoyi Innovation increasing over 5% [6]. Future Outlook - Huatai Securities believes that the recent pullback in the Hong Kong market creates an opportunity for entry, with expectations of a recovery trend [8]. - Key areas to focus on include the AI supply chain and semiconductor sectors, which are expected to benefit from clearer market dynamics and stronger performance [8]. - The report suggests maintaining an overweight position in resource stocks, insurance, and local Hong Kong stocks after stabilization [8].