越秀证券：每日晨报-20241028

Core Insights - The Hang Seng Index closed at 20,590, up 0.49% for the day and up 20.78% year-to-date [1] - The Hang Seng Technology Index rose by 1.21% to 4,538, reflecting a year-to-date increase of 20.55% [1] - The report highlights a mixed performance in major global indices, with the Dow Jones down 0.61% and the Nasdaq up 0.56% [3] Market Overview - The Hong Kong stock market showed stability with the Hang Seng Index reaching a high of 20,784 before closing at 20,590, marking a 0.49% increase [3] - The A-share market remained steady, with the Shanghai Composite Index closing at 3,299, up 0.59% [3] - In the US market, the Nasdaq reached a new high, while the Dow Jones and S&P 500 indices experienced declines [3] Sector Performance - The report indicates that the semiconductor and biotechnology sectors performed well, with significant gains in the semiconductor and automotive sectors [15] - The report also notes a strong performance in the solar energy sector, particularly with Xinyi Solar Holdings, which surged by 16.99% [12] Company Developments - Meituan has launched the first cross-border drone delivery route in mainland China, supported by WeChat Pay HK, indicating a push towards low-altitude economy development [6] - Alibaba has reached a settlement in a US antitrust lawsuit, agreeing to pay approximately HKD 33.8 billion, marking one of the largest securities class action settlements in the US [11] - SenseTime has partnered with Zhongzhi to enhance AI capabilities in human resources, showcasing advancements in AI applications within the industry [10] Housing Market Insights - The Hong Kong Housing Authority reported that 3,800 private residential units were completed in Q3, with an estimated potential supply of 108,000 units over the next 3 to 4 years [9] - The report indicates that a significant portion of the upcoming supply will consist of small-sized units, with 87% expected to have a usable area of less than 70 square meters [9]