农银国际证券：每天导读-20241201

Core Insights - The report highlights the resilience of the Hong Kong stock market despite external pressures, particularly from U.S. trade policies and tariffs [6][21] - It notes a significant rebound in technology stocks in the U.S., which has positively influenced market sentiment [6][21] - The report emphasizes the mixed performance of various sectors within the Chinese stock market, with consumer sectors leading while industrial sectors lagged [6][21] Market Performance Summary - The Hang Seng Index closed at 19,159.20, showing a slight increase of 0.04% for the day but a decline of 2.57% over the past five days [3] - The H-share index closed at 6,851.56, down 0.16% for the day and 3.26% over the last five days [3] - The Shanghai Composite Index and Shenzhen Component Index both experienced declines, with the Shenzhen Component showing a more significant drop [6][21] Economic Indicators - The report provides key economic data, including U.S. new home sales at an annual rate of 725,000, surpassing expectations of 610,000 [6] - The FHFA House Price Index showed a month-over-month increase of 0.3%, slightly below the expected 0.7% [6] - China's civil aviation data indicates a recovery in international passenger traffic, reaching 580.3 million in October, a 76.1% year-on-year increase [21] Corporate Developments - Huawei plans to launch new devices with its own operating system, HarmonyOS Next, starting in 2025, moving away from Android [23] - Qualcomm's interest in acquiring Intel is reportedly cooling due to the complexity of the deal [23] - The U.S. government is set to provide Intel with $7.9 billion in federal funding to boost domestic chip manufacturing [23] Sector Analysis - The report notes that the consumer sector in the Chinese market is performing well, while industrial sectors are facing challenges [6][21] - The report also highlights the potential for growth in the demand for tin due to advancements in artificial intelligence, as indicated by China Nonferrous Metal Mining Group's acquisition of a Brazilian tin producer [23]