Zhao Yin Guo Ji·2025-04-24 05:51Core Insights - The report highlights a significant rebound in global markets, particularly in Hong Kong stocks, driven by consumer discretionary, information technology, and financial sectors, while raw materials and telecommunications services faced declines [3] - The report indicates that the U.S. market experienced volatility, with early gains reversing due to comments from Treasury Secretary suggesting no immediate tariff reductions on China, impacting market sentiment [3] - The report emphasizes the ongoing impact of tariff shocks on the U.S. economy, predicting risks of stagflation in the short term and recession in the long term due to rising import costs and declining demand [3] Company Analysis - New Oriental (EDU US) reported a 2% year-on-year decline in net revenue to $1.18 billion, with a forecasted growth of 10%-13% in the next quarter, reflecting pressures from its overseas business [4] - ZTE Corporation (763 HK) showed an 8% year-on-year revenue growth to RMB 33 billion, driven by strong performance in its enterprise business, although net profit fell by 11% due to declining gross margins [4] - The report provides a list of focus stocks with target prices and potential upside, including Geely Automobile (175 HK) with a target price of HKD 23.00, indicating a 43% upside [5] Market Performance - The Hang Seng Index closed at 22,073, up 2.37% for the day and 29.48% year-to-date, while the Hang Seng Tech Index rose by 3.07% [1] - The report notes that European markets rebounded, particularly Germany's DAX, which increased by 3.14%, reflecting a recovery from tariff impacts [3] - The report highlights the performance of various sectors within the Hong Kong market, with the Hang Seng Financial Index up 2.15% and the Hang Seng Industrial Index up 2.68% [2]