信达国际控股港股晨报-20250409

Market Overview - The Hong Kong stock market is expected to test the level of 18,671 points, with the government setting a GDP growth target of around 5% for 2025, aligning with market expectations [2] - The Chinese government aims to implement more proactive fiscal policies and moderate monetary easing to boost investor confidence in economic growth for 2025 [2] - The introduction of a "AI+" initiative and the launch of the DeepSeek domestic high-performance model are expected to lower reasoning costs and accelerate AI applications, which may positively impact corporate revenues and profit growth [2] Corporate News - BYD Company Limited (1211) has issued a profit warning, anticipating a profit increase of over 86% for the first quarter [4] - The three major oil companies are expected to increase their holdings in A and H shares, involving nearly 13 billion RMB [4] Macro Focus - The U.S. Federal Reserve maintained interest rates in March and is expected to reduce rates twice this year, with a total reduction of 50 basis points [5] - The U.S. has announced a minimum benchmark tariff of 10% on trade partners, which is expected to impact global trade activities [3][9] - The U.S. is considering raising tariffs on Chinese imports to 34%, which exceeds market expectations, and China is preparing retaliatory measures [3][9] Stock Market Performance - The Hang Seng Index closed at 20,128, up 1.51% year-to-date, while the Hang Seng Tech Index rose by 3.79% [6] - The U.S. stock market experienced declines, with major indices falling between 0.8% and 2.2% [7] Government and Regulatory Actions - The Central Huijin Investment Company has increased its holdings in exchange-traded funds (ETFs) to stabilize the capital market amid global stock market turmoil [10] - The State-owned Assets Supervision and Administration Commission (SASAC) supports state-owned enterprises in increasing share buybacks to enhance shareholder value [10] - The National Social Security Fund has actively increased its domestic stock holdings and plans to continue doing so [10]