中泰国际每日晨讯-20250724

Market Overview - On July 23, the Hang Seng Index rose by 408 points or 1.6%, closing at 25,538 points, marking its highest closing level of the year[1] - The Hang Seng Tech Index increased by 2.5%, closing at 5,745 points, with total market turnover reaching HKD 333.1 billion, the highest since April 10[1] - Despite the rise, net outflow from Hong Kong Stock Connect was HKD 1.319 billion, indicating a lack of broad-based market strength[1] Sector Performance - Major tech stocks drove the index higher, with Tencent (700 HK) up 4.9% to HKD 552, a new high for the year[1] - Other notable gains included Alibaba (9988 HK) and Meituan (3690 HK), which rose between 2.5% and 3.3%[1] - AI and robotics stocks showed strong performance, with companies like UBTECH (9880 HK) rebounding by 5.8% after a recent share placement[4] Economic Dynamics - The Trump administration is shifting from broad tariffs to targeted investment agreements, maintaining at least a 10% baseline tariff while negotiating investment commitments from countries like Japan and the Philippines[3] - This strategy may help control inflationary pressures from imported goods, as certain key agricultural and energy products receive exemptions[3] Real Estate Insights - New home sales in 30 major cities fell to 1.23 million square meters, a year-on-year decline of 21.7%, although this was an improvement from the previous week's 24.9% drop[6] - The cumulative transaction volume for new homes in first-tier cities showed mixed results, with Guangzhou up 15.6% year-on-year, while Beijing and Shanghai saw declines[7] Investment Strategy - The overall sentiment in the Hong Kong market remains positive, with expectations of foreign capital inflows potentially accelerating the market's upward momentum[2] - Investors are advised to focus on high-dividend sectors such as telecommunications, utilities, and financials while looking for opportunities in growth areas like AI and biomedicine[13]