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平安证券(香港)港股晨报-20250729
Ping An Securities Hongkong·2025-07-29 02:00

Market Overview - The Hong Kong stock market experienced fluctuations, with the Hang Seng Index closing at 23,831 points, down 145 points or 0.61% [1] - The market saw a net inflow of funds through the Stock Connect, amounting to 484 million, with the Shanghai and Shenzhen Stock Connects contributing 283 million and 201 million respectively [1] - The market's trading volume decreased to 82.799 billion [1] US Market Insights - Investors are digesting trade agreements between the US and EU while awaiting the Federal Reserve meeting and economic data [2] - The S&P 500 index closed slightly higher by 1 point, while the Nasdaq rose by 0.3% and the Dow Jones fell by 0.1% [2] - Tesla confirmed a $16.5 billion chip contract with Samsung, leading to a 3% increase in its stock price [2] Market Outlook - The report emphasizes a positive outlook for the Hong Kong stock market, citing low valuations and increasing trading activity under the "profit-making effect" [3] - The report suggests that the recent strong performance of A-shares and Hong Kong stocks will boost global and domestic capital confidence in Chinese equity assets [3] - Key sectors to watch include technology (AI, robotics, semiconductors), innovative pharmaceuticals, and consumer-related sectors benefiting from low-risk interest rates [3] Company Highlights - Hengrui Medicine (1276HK) saw a significant increase of 24% following an announcement of a project worth up to $12.5 billion [1] - Major financial stocks performed well, with Guotai Junan International (1788HK) rising over 9% [1] - The report highlights the performance of various companies, including ZTE Corporation (0763HK), which is focusing on AI and cloud computing solutions [10] Economic Policies - The Chinese government announced a child-rearing subsidy of 3,600 yuan per child per year for families with children under three years old, effective from January 1, 2025 [9] - This policy is expected to stimulate the maternal and infant consumption market and indirectly benefit the assisted reproductive industry [9]