越秀证券每日晨报-20250925

Market Performance - The Hang Seng Index closed at 26,518, up 1.37% with a year-to-date increase of 32.20% [1] - The Hang Seng Tech Index rose by 2.53% to 6,323, marking a year-to-date increase of 41.52% [1] - The Dow Jones Index decreased by 0.37% to 46,121, with a year-to-date increase of 8.41% [1] - The S&P 500 Index fell by 0.28% to 6,637, with a year-to-date increase of 12.86% [1] Currency and Commodity Trends - The Brent crude oil price is at $68.22 per barrel, up 1.50% over the past month but down 2.43% over six months [1] - Gold prices increased by 11.77% over the past month, reaching $3,762 per ounce, and up 24.94% over six months [1] - The Chinese Yuan Index stands at 96.360, with a 1-month increase of 0.20% but a 6-month decrease of 2.48% [1] Company News - Chow Tai Fook (00659.HK) reported a net profit of HKD 2.162 billion, up 3.7% year-on-year, with a final dividend of HKD 0.35 and a bonus share issuance [19] - Chow Tai Fook is seeking to issue HKD 2.218 billion in exchangeable bonds, which can be converted into shares of First Holdings (00697) [21] - The company has reduced its average borrowing cost to approximately 4.1% from 4.7% year-on-year [19] Economic and Trade Developments - The U.S. Treasury Secretary highlighted key products such as aircraft engines and chemicals that China relies on from the U.S. during trade negotiations [8] - The U.S. has officially reduced the EU's automobile import tariff to 15%, effective retroactively from August 1 [9] - The U.S. is negotiating a $20 billion currency swap agreement with Argentina to stabilize financial markets [17] Stock Market Insights - Alibaba's stock surged over 9%, driven by announcements of AI product developments and a planned investment of RMB 380 billion in AI infrastructure [3] - Semiconductor stocks performed well, with ASMPT and SMIC rising nearly 6% or more [3] - The overall trading volume in the Hong Kong main board decreased to approximately HKD 288.8 billion [3]