平安证券（香港）港股晨报-20250826

Market Overview - The Hong Kong stock market showed a strong performance on Monday, with the Hang Seng Index rising by 1.94% to close at 25829.91 points, marking a new high for the period. The Hang Seng Technology Index increased by 3.14% to 5825.09 points, while the Hang Seng China Enterprises Index rose by 1.85% to 9248.0 points. The market turnover reached 3696.98 billion HKD, significantly higher than the previous trading day [1][5]. - In contrast, the US stock market experienced a decline on Monday, with the Dow Jones falling by 349.27 points (0.77%) to 45282.47 points, the Nasdaq dropping by 47.24 points (0.22%) to 21449.29 points, and the S&P 500 decreasing by 27.59 points (0.43%) to 6439.32 points. The market is closely watching the upcoming release of the July Personal Consumption Expenditures (PCE) price index, which is a key inflation indicator favored by the Federal Reserve [2]. Industry Insights - The metals sector in Hong Kong showed overall strength, influenced by expectations of a rate cut by the Federal Reserve in September. Recommended leading companies in the metals sector, such as Zijin Mining (2899HK), Luoyang Molybdenum (3993HK), and China Nonferrous Mining (1258HK), saw respective increases of 6.4%, 10.5%, and 9.4% on Monday [3]. - The technology sector remains active, driven by the recent release of the DeepSeek-V3.1 model, which has provided significant catalysts for related leading companies. ZTE Corporation (0763HK), recently recommended, surged by 34% last week and continued to rise by 2.9% on Monday [3]. - The report emphasizes the continued investment value of Hong Kong stocks centered on Chinese assets, recommending focus on sectors such as artificial intelligence, robotics, semiconductors, and industrial software, as well as new consumption sectors supported by policy initiatives [3]. Company Highlights - Dongfeng Group (00489HK) experienced a significant increase of 54.1% as it announced plans for privatization and the independent listing of its subsidiary, Lantu Motors [1]. - China Unicom (0762HK) is highlighted for its robust performance, with a reported revenue of 454 billion CNY from its smart network business in the first half of 2025, reflecting a year-on-year growth of 4.3% [10]. The company is transitioning towards a technology-driven digital enterprise, with a focus on cloud computing, IoT, big data, and AI applications [10].