平安证券（香港）港股晨报-20250915

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 Southbound Stock Connect, totaling 10,729 million HKD year-to-date, surpassing last year's total of 8,079 million HKD [3] - The US stock market showed mixed results, with the Nasdaq reaching a historical high of 22,141 points, while the Dow Jones fell by 0.6% [2] Sector Performance - The local real estate, software, and 5G sectors faced declines, while gold stocks performed well [1] - The AI sector showed strong performance, with notable gains from companies like Baidu Group, which rose by 19% last week [3] - Pharmaceutical stocks rebounded significantly, with notable increases in companies such as Yao Jian Kang, which surged by 77% [1] Investment Recommendations - Continued focus on sectors such as artificial intelligence, semiconductors, and industrial software is advised due to their growth potential [3] - Companies benefiting from expectations of interest rate cuts and strong mid-term performance in the upstream non-ferrous metals sector are recommended [3] - Attention is drawn to leading companies in the technology sector empowered by "AI+" applications, as well as state-owned enterprises with low valuations and high dividends [3] Key Company Updates - Tencent repurchased 852,000 shares for 550 million HKD, indicating confidence in its stock [12] - Meituan launched its first AI Agent product, showcasing advancements in technology [12] - Xiaomi's AI laboratory released the ZipVoice series voice synthesis model, reflecting innovation in the tech space [12]