平安证券（香港）港股晨报-20251014

Market Overview - The Hong Kong stock market experienced volatility, with the Hang Seng Index closing at 23,831 points, down 145 points or 0.61% [1] - The US stock market saw gains, with the Dow Jones up 1.29% at 46,067.58 points, and the Nasdaq rising 2.21% to 22,694.608 points, amid easing tariff concerns from the US government [2] Key Companies and Sectors - In the Hong Kong market, local real estate, software, and 5G sectors faced significant declines, while gold stocks performed well [1] - China Mobile announced an "AI+" action plan, aiming to double its investment in AI by 2028 and enhance its intelligent computing infrastructure [9] - China Unicom reported a 4.3% year-on-year increase in its smart network revenue, reaching 45.4 billion yuan in the first half of 2025 [10] Investment Recommendations - The report suggests focusing on sectors such as artificial intelligence, semiconductors, and industrial software, which are expected to maintain strong growth [3] - It highlights the potential of upstream non-ferrous metals benefiting from anticipated interest rate cuts and strong mid-term performance [3] - The report recommends monitoring state-owned enterprises with low valuations and high dividends, as well as technology leaders benefiting from AI advancements [3] Stock Performance - The report notes that the Hang Seng Index has seen a decline of 1.5% over the past month, while the Hang Seng Technology Index has decreased by 1.8% [16] - Key technology stocks like Tencent and Alibaba have also experienced declines of 1.9% and 1.7%, respectively, over the same period [16]