Stock Market Performance - In July 2025, global stock markets rose, with the KOSPI increasing by over 5%, and the NASDAQ rising nearly 4%[4] - The Hang Seng Index and Hang Seng Tech Index both saw monthly gains of nearly 3%[4] Hong Kong Stock Sector Performance - The healthcare sector surged by 22.8%, while the industrial and energy sectors also performed well with increases of 9.9% and 9.7% respectively[8] - The overall performance of the Hang Seng industry indices showed positive growth across all sectors in July 2025[8] IPO and Financing Overview - In July 2025, the Hong Kong IPO market saw 9 new listings, raising approximately HKD 17.63 billion, with a first-day loss rate of only 22.2%[13] - The major sectors for IPO financing included TMT, finance, consumer, and healthcare[13] - A total of 86 companies announced share placements in July, expected to raise around HKD 40.89 billion, primarily in the healthcare, TMT, and real estate sectors[13] U.S. Economic Indicators - The U.S. labor market remains resilient, with initial jobless claims dropping to 217,000, marking a six-week decline[15] - Despite weak home sales, the median home price increased by 1.97% year-on-year, indicating price stability in the real estate market[15] China Economic Policies - China continues to implement policies to combat "involution," with new regulations in various sectors including agriculture and healthcare[16] - The Yarlung Tsangpo River hydropower project has commenced, with a total investment of approximately CNY 1.2 trillion[16] - The AI industry is receiving new catalysts, with the government advocating for global cooperation in AI governance[16] Market Outlook - The U.S. economy shows resilience, with the Federal Reserve maintaining interest rates between 4.25% and 4.50%[18] - The Hong Kong market is expected to maintain an upward trend, supported by favorable domestic policies and improved U.S.-China relations[18] - Investment focus is recommended on technology assets, consumer sectors, and stable dividend-paying stocks[18]
资本市场月报-20250801
Ping An Securities Hongkong·2025-08-01 04:25