平安证券（香港）港股晨报-20251021

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 Stock Connect, amounting to 484 million, with the Shanghai and Shenzhen Stock Connects contributing 283 million and 201 million respectively [1] - The US stock market showed positive performance, with the Nasdaq rising 1.37% and major tech stocks like Apple reaching a market cap of 3.89 trillion [2] Industry Performance - The non-essential consumer sector increased by 3.26%, while the information technology sector rose by 3.19% [3] - The report emphasizes the potential for Hong Kong stocks to rebound due to low valuations and active trading, particularly in technology sectors such as artificial intelligence, semiconductors, and industrial software [3] - The report highlights the performance of newly listed stocks, with Hai Xi Pharmaceutical rising 20.60% on its first trading day [3] Key Companies - China Mobile reported a net profit of 115.35 billion RMB for the first nine months, an increase of 4% [11] - CATL's net profit for the first three quarters reached 49.034 billion RMB, growing by 36.2% [11] - The report suggests focusing on companies with low valuations and high dividends, particularly state-owned enterprises [3] Investment Recommendations - The report recommends continued attention to sectors benefiting from AI applications and companies in the upstream non-ferrous metals sector, which are expected to perform well amid anticipated interest rate cuts by the Federal Reserve [3] - Specific companies to watch include China Gold International and Zijin Mining in the gold sector, and China Shipbuilding Leasing and CIMC Enric in the green shipping sector [9]