国元香港晨报-2025-03-19

Group 1 - The investment rating for the Hong Kong technology sector is currently positive, with a notable increase in the Hang Seng Index by 7.04% over the past week, indicating a bullish sentiment in the market [1] - The core viewpoint of the report highlights that the recent surge in Hong Kong technology stocks is driven by market sentiment, with significant valuation increases for related stocks. However, the report cautions that the degree of future positive expectations being met will be crucial for sustaining this momentum [1] - The report emphasizes that despite uncertainties in the global environment, the Hong Kong market still has strong support from recent developments, such as the introduction of the AI model deepseek, which has significantly boosted investor confidence [1] Group 2 - In the offshore bond market, there has been a rebound in primary market issuances, with 11 new bonds issued totaling $1.56 billion, primarily in the urban investment sector. Notably, Greentown China issued a$350 million bond with a coupon rate of 8.45%, which was the largest single issuance of the week [2] - The secondary market performance shows that high-yield bonds outperformed investment-grade bonds, with the Markit iBoxx index for high-yield bonds rising by 0.85% while the investment-grade index increased by 0.25% [2]