平安证券（香港）港股晨报-20250916

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 turnover decreased to 82.799 billion HKD, with net inflows of 484 million HKD from the Stock Connect [1][5] - The US stock market showed positive performance, with the Dow Jones up 0.11% and the S&P 500 and Nasdaq reaching new historical highs [2] Investment Opportunities - The report highlights the significant inflow of southbound funds, totaling 10,874 billion HKD year-to-date, surpassing last year's total of 8,079 billion HKD [3] - Key sectors to focus on include artificial intelligence, semiconductors, and industrial software, which are expected to benefit from recent regulatory developments [3] - The report suggests continued attention on upstream non-ferrous metals benefiting from anticipated interest rate cuts and strong mid-year performance [3] Company Highlights - NIO Inc. and Li Auto saw significant stock price increases, with NIO rising over 7% and Li Auto up 4% [1][2] - The pharmaceutical sector showed strong performance, with a new stock, Yaojie Ankang, surging 110% in a single trading day, accumulating nearly 500% over four trading days [1] - The report recommends focusing on companies with low valuations and high dividends, particularly state-owned enterprises [3]