农银国际证券：每天导读-20250205

Core Insights - The report highlights concerns regarding the impact of US President Trump's tariff policies on inflation and market stability, particularly affecting the US stock market which saw declines across major indices [6] - The report notes a mixed performance in the Hong Kong market, with continued investment in tech stocks driven by optimism around domestic AI developments [6] - Predictions for the price-to-earnings (P/E) ratios for major indices in 2025 are provided, indicating a P/E of 23.6 for the Dow Jones, 24.8 for the S&P 500, and 9.6 for the Hang Seng Index [6] Economic Data Summary - The report presents key economic indicators from the US, including personal spending and PCE price index figures for December, which met market expectations [7] - The actual personal spending month-on-month was reported at 0.7%, exceeding the market expectation of 0.5% [7] International Economic News - The report discusses the implications of Trump's tariffs, including a 10% tariff on Chinese goods and a 25% tariff on goods from Canada and Mexico, leading to retaliatory measures from these countries [9][10] - Canada announced a 25% tariff on $107 billion worth of US goods in response to the tariffs imposed by the US [10] - The EU warned of a firm response if the US imposes tariffs on its goods, reflecting discontent among traditional allies regarding Trump's trade strategies [10] Corporate News - Apple has reportedly abandoned its project to develop advanced augmented reality glasses that connect with its devices, indicating challenges in its product development strategy [9] - The US is investigating whether the Chinese AI startup DeepSeek acquired advanced Nvidia chips through a third party in Singapore, potentially violating export controls [9] - Hong Kong's Financial Secretary reported a 6% increase in visitor numbers during the Lunar New Year period, suggesting a recovery in consumer confidence [9]