中泰国际每日晨讯-20250527

Market Overview - The Hong Kong stock market experienced a decline on May 26, with the Hang Seng Index falling by 319 points or 1.4%, closing at 23,282 points, marking the first time since April 16 that it fell below the 20-day moving average [1] - The Hang Seng Tech Index dropped by 1.7%, closing at 5,157 points, reaching its lowest closing price in May [1] - The increase in trading volume to HKD 223.5 billion indicates a shift towards defensive investments, particularly in state-owned enterprises, as risk appetite weakens [1] Real Estate Dynamics - New home sales in 30 major cities showed a slight year-on-year increase of 0.2%, with a notable rise in first-tier cities [2] - The transaction volume reached 202 million square meters, with a week-on-week increase of 9.8%, although this was lower than the previous week's growth [2] Automotive Industry Trends - The automotive sector faced a significant downturn, with major players like BYD and Geely experiencing stock declines of 8.6% and 9.5%, respectively, amid concerns over a price war in the domestic car market [3] - The first four months of 2025 saw over 4.4 million new energy vehicles sold in China, indicating a rising market penetration despite fierce competition [3] Nuclear Power Sector - Nuclear power stocks continued to rise following the signing of an executive order by Trump to reform the nuclear regulatory commission, which is expected to accelerate the development of the U.S. nuclear energy industry [4] - Companies like China General Nuclear Power and Harbin Electric saw stock increases of 3.9% to 8.4% [4] Strategic Outlook - The report from Zhongtai International suggests a cautious approach to the Hong Kong stock market, emphasizing a "defensive counterattack" strategy focusing on high-dividend sectors and policy-supported consumption [7] - Recommended sectors include telecommunications, utilities, and energy, as well as consumer sectors benefiting from policy support and upcoming sales events [7] Stock Recommendations - The report highlights several stocks as potential investment opportunities, including Tencent, Midea Group, and China Water Affairs, among others [8]