每日投资策略-20250513

Global Market Overview - The report highlights a significant increase in major global stock markets, with the Hang Seng Index rising by 2.98% and the Nasdaq gaining 4.35% year-to-date performance reaching 24.63% [1][3] - The report notes that the market sentiment was positively influenced by the preliminary results of the US-China trade negotiations, leading to a rally in sectors sensitive to trade and economic cycles [3] Sector Performance - In the Hong Kong market, sectors such as consumer discretionary, industrials, and information technology led the gains, while defensive sectors like healthcare and utilities lagged behind [3] - The report indicates that the Hang Seng Financial Index increased by 2.46% and the Hang Seng Industrial Index rose by 3.45% year-to-date performance for these sectors is 34.00% and 46.55% respectively [2] Economic Impact - The report discusses the reduction of tariffs between the US and China, with the average tariff rate for US goods to China dropping to approximately 53% and China's tariff rate to the US at around 33% [3] - The impact of tariff reductions on China's GDP growth forecast was adjusted from 1% to approximately 0.5%, leading to an upward revision of the second-quarter GDP growth forecast from 4.5% to 4.8% [3] Investment Opportunities - The report lists several companies with buy ratings, including Geely Automobile (target price: 23.00), XPeng Motors (target price: 28.00), and Anta Sports (target price: 119.08), indicating potential upside of 21%, 33%, and 26% respectively [4] - Notable mentions include Luckin Coffee with a target price of 40.61 and a potential upside of 23%, and BYD Electronics with a target price of 43.22, showing a 14% upside [4] Market Sentiment - The easing of trade tensions has significantly boosted global market risk appetite, leading to a rebound in global equities and emerging market currencies, while safe-haven assets like gold and US Treasuries saw declines [3] - The report anticipates a delay in the Federal Reserve's interest rate cuts, pushing the expected timing from July to September, with a potential additional cut in November or December [3]