每日投资策略-20250613

Macro Economic Overview - US inflation in May was lower than expected, with energy prices declining and weak consumer demand offsetting tariff impacts, leading to a slight decrease in core goods prices [2] - The Federal Reserve is expected to maintain a wait-and-see approach in the short term, with potential rate cuts anticipated in September to December [2][4] Market Performance - The Hang Seng Index closed at 24,035, down 1.36% for the day but up 40.99% year-to-date [2] - The US stock market showed mixed results, with the Dow Jones up 0.24% and the S&P 500 up 0.38%, while the Nasdaq also increased by 0.24% [2] - European markets experienced a decline for the fourth consecutive day, while the UK index reached a historical high [4] Industry Insights - In the internet sector, the focus has shifted back to the effectiveness of competitive barriers and business model moats, with many companies reporting profits in line with or above market expectations [5] - Companies with strong ecosystems and network effects, as well as those with higher profit margins, are expected to perform better in a competitive landscape [5] - Recommended stocks in the online entertainment sector include Kuaishou, NetEase, and Tencent Music, which are expected to benefit from stable advertising growth and user engagement [5] Long-term Investment Focus - Two main investment themes are highlighted: companies with strong technology attributes and diverse application scenarios, particularly those benefiting from AI demand, such as Alibaba and Tencent [6] - Companies related to overseas services, including gaming and cloud services, are also recommended for long-term investment [6] Focus Stocks - Geely Automobile (175 HK) is rated as a buy with a target price of 24.00, representing a 37% upside [7] - Alibaba (BABA US) is also rated as a buy with a target price of 155.50, indicating a 28% upside [7] - Other recommended stocks include Tencent, Ctrip, and Luckin Coffee, all rated as buy with significant upside potential [7]