农银国际证券：每天导读-20250120

Core Insights - The report highlights a positive trend in the stock market, with major indices in the US and Asia showing gains, particularly in technology and consumer sectors [5][6][9] - Economic indicators from China and the US exceeded market expectations, suggesting a robust economic outlook [6][9] - The report notes significant developments in the gaming industry, with global consumer spending on mobile games increasing by 5.1% month-on-month [9] Economic Data Summary - China's GDP growth for Q4 was reported at 5.4%, surpassing the expected 5.0% [6] - Industrial output in China for December grew by 6.2%, exceeding the forecast of 5.4% [6] - In the US, industrial production increased by 0.9% in December, higher than the expected 0.3% [6] Market Performance Summary - The Hang Seng Index closed at 19,584.06, up by 0.31% for the day and 2.73% over the past five days [2] - The Nasdaq saw a significant increase of 1.51% on the last trading day, reflecting strong performance in technology stocks [5] - The report provides forward-looking P/E ratios for major indices, with the Dow Jones at 22.6x and the S&P 500 at 25.2x for 2024 [5] Industry Developments - Sensor Tower reported that global consumer spending on mobile games reached approximately $6.98 billion in December, with the US market contributing $2.2 billion [9] - The World Bank has slightly upgraded its global economic growth forecast for 2024 to 2.7%, indicating a stable outlook for major economies [9] - The report mentions that the real estate market in China is expected to improve, driven by government policies aimed at boosting consumer confidence [7][9]