信达国际控股港股晨报-20250624

Market Overview - The Hong Kong stock market is expected to fluctuate within the range of 23,000 to 24,000 points due to a series of financial policies introduced in mainland China to stabilize the market and expectations, including reserve requirement ratio cuts and interest rate reductions [1] - The U.S. and China have agreed to lower tariffs, with the U.S. reducing tariffs on Chinese imports from 145% to 30%, and China reducing tariffs on U.S. imports from 125% to 10% for a 90-day period [1] Sector Outlook - Gold mining stocks are favored in the short term due to geopolitical tensions and central banks continuing to increase their gold holdings [2] Corporate News - Alibaba (9988) has integrated its food delivery platform Ele.me and travel platform Fliggy into its e-commerce business group, aiming for a strategic upgrade towards a comprehensive consumer platform [3][12] - Meituan (3690) is expanding its instant retail business, enhancing its supply chain digitalization capabilities and aiming to cover all first and second-tier cities [3][12] - BYD (1211) is reported to be providing rebates to dealers, with the scale expected to exceed 1 billion RMB [3] - China Hongqiao (1378) anticipates a 35% increase in net profit for the first half of the year due to product price increases [3] Economic Indicators - The U.S. Federal Reserve maintained interest rates, with expectations of two rate cuts totaling 0.5% in 2025, while the inflation outlook remains uncertain [4] - China's land sales revenue fell to 194.1 billion RMB in May, the lowest in a decade, indicating ongoing weakness in the real estate market [10] - The Ministry of Industry and Information Technology of China aims to increase gold resource volume by 5%-10% and silver production by over 5% by 2027 [10] IPO and Investment Climate - Hong Kong's IPO fundraising is expected to reach nearly 80 billion HKD this year, placing it among the top globally [11] - The Hong Kong Monetary Authority is preparing for potential interest rate increases as the Hong Kong dollar approaches its weak end of the trading band [10]