信达国际控股港股晨报-2025-04-07

Market Overview - The Hong Kong stock market is expected to test the 20,000 point level as the government sets a GDP growth target of around 5% for 2025, aligning with market expectations. The Prime Minister emphasized the implementation of more proactive fiscal policies and moderate monetary easing to boost investor confidence in economic growth for 2025 [2] - The introduction of a 34% tariff on Chinese imports by the US has negatively impacted investment sentiment and corporate earnings, leading to a forecasted decline in the Hang Seng Index [2][5] Sector Focus - High-yield stocks are favored in the current volatile market as investors seek safe havens amid rising expectations for interest rate cuts [3] - The service sector in China showed improvement with the Caixin Services PMI rising to 51.9 in March, exceeding expectations, indicating a faster expansion pace [8] Company News - Dongpeng Beverage has submitted an application for an H-share listing in Hong Kong, reporting a revenue of 15.83 billion yuan for the previous year, a year-on-year increase of 40.62% [9] - Sany Heavy Industry's board has approved the issuance of H-shares to enhance its global strategy and connect with overseas capital markets [9] - Lalamove's parent company has applied for a mainboard listing in Hong Kong, reporting a 27% year-on-year profit increase [9] - Meituan has initiated a pilot program for rider pension insurance, expanding coverage to 17 provinces and cities [9] Economic Indicators - The US Federal Reserve maintained interest rates, with expectations of two rate cuts this year, reflecting a cautious approach to inflation uncertainty [3] - China's foreign exchange reserves and macroeconomic indicators are being closely monitored as tariffs and trade tensions escalate [6][8] Trade Relations - The US has implemented a 34% tariff on all imports from China, effective April 10, 2025, which has prompted strong opposition from China, emphasizing the negative impact of trade wars [7][8] - Japan has announced export controls on semiconductor-related items, which China has condemned as harmful to global supply chains [8]