中泰国际每日晨讯-20250714

Market Overview - The Hang Seng Index rose by 0.9% last week, closing at 24,139 points, while the Hang Seng Tech Index increased by 0.6% to 5,248 points[1] - Weekly market turnover decreased by 1.7% to HKD 242.5 billion, with a net inflow of HKD 20.7 billion through the Stock Connect[1] - The market is experiencing significant rotation among sectors, with strong inflows into stablecoin concept stocks, brokerages, and biopharmaceuticals, indicating a positive investment cycle[1] Macroeconomic Insights - The latest FOMC minutes revealed that only a few Fed officials support a rate cut in July, with most concerned about inflation risks from new tariffs[2] - Initial jobless claims in the U.S. unexpectedly fell to 227,000, the lowest in seven weeks, indicating a resilient labor market[2] Sector Performance - The consumer sector saw declines, with stocks like Maogeping and Lao Pu Gold dropping between 5% and 9% last week[3] - The vocational education sector performed well, with New Higher Education and China Spring rising by 24.2% and 14.6%, respectively[3] Healthcare Sector - The Hang Seng Healthcare Index slightly declined by 0.05% after two weeks of gains, despite WuXi AppTec's stock surging by 10.5% following a positive earnings announcement[4] - WuXi AppTec expects a revenue of approximately RMB 20.8 billion for H1 2025, reflecting a year-on-year growth of about 20.6%[4] Energy and Utilities - The renewable energy and utilities sectors experienced slight fluctuations, with notable increases in stocks like Xinyi Solar and GCL-Poly Energy, rising by 2.4% and 9.8%, respectively[5] - Environmental stocks also saw gains, with Everbright Environment and Beijing Enterprises Water rising by 3.8% and 5.7%[5] Company-Specific Updates - Tianlun Gas is expected to return to profit growth starting FY25, with a projected CAGR of 12.0% for net profit from FY24 to FY27[6] - The company aims to increase its dividend payout ratio from 30.0% in FY23 to 35.0% by FY25, indicating a commitment to shareholder returns[11]