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平安证券（香港）港股晨报-20250821
Ping An Securities Hongkong·2025-08-21 02:47

Market Overview - The Hong Kong stock market showed mixed performance, with the Hang Seng Index closing at 25,166 points, up 0.17%, while the Hang Seng Technology Index fell by 0.01% [1][5] - The market turnover decreased to HKD 285.29 billion, with significant net selling from southbound funds amounting to HKD 14.68 billion [1][5] - Notable stock movements included Sunny Optical Technology (2382HK) rising by 9.7% due to a 52.56% year-on-year increase in net profit for the first half of the year [1][5] U.S. Market Insights - The S&P 500 index fell for four consecutive days, influenced by a general decline in technology stocks, while the Dow Jones saw a slight increase of 16 points to 44,938 points [2] - Initial jobless claims in the U.S. for August 9 were reported at 224,000, lower than the previous figure of 227,000, indicating a slight improvement in the labor market [2] Sector Performance - The semiconductor, communication, and artificial intelligence sectors in the Hong Kong market showed renewed activity, with ZTE Corporation (0763HK) rising by 3.8% and accumulating a 10.7% increase for the week [3] - The report emphasizes the investment value of Hong Kong stocks centered on Chinese assets, particularly in technology sectors such as artificial intelligence, robotics, and semiconductors [3] Key Company Updates - Hong Kong Exchanges and Clearing Limited (00388) reported a 39% year-on-year increase in net profit to HKD 8.519 billion for the first half of the year, with a significant rise in trading volumes [9] - The average daily trading amount in the securities market reached HKD 240.2 billion, up 118% year-on-year, indicating robust market activity [9] Investment Recommendations - The report suggests focusing on sectors with strong growth potential, including artificial intelligence, robotics, and new consumer sectors supported by policy initiatives [3][9] - Specific companies to watch include BeiGene (6160HK) and CSPC Pharmaceutical Group (1093HK), which are highlighted for their innovation and market position in the biopharmaceutical industry [9]