BYD(HK:01211) Ping An Securities Hongkong·2025-11-03 02:20Market Overview - The Hong Kong stock market experienced a decline, with the Hang Seng Index closing at 23,831 points, down 145 points or 0.61% [1][5] - The Hang Seng Technology Index fell by 2.37% for the month, while the Hang Seng China Enterprises Index decreased by 1.91% [1][5] - The total market turnover decreased to 82.799 billion HKD, with net inflows of 484 million HKD recorded in the Hong Kong Stock Connect [1][5] US Market Performance - The US stock market saw all three major indices close higher, with the Nasdaq rising by 0.61% and achieving a weekly gain of 2.24% [2] - Amazon's stock surged over 9%, reaching a historical high, while Tesla and Netflix also saw gains [2] - The Nasdaq China Golden Dragon Index increased by 0.53%, ending a previous five-week decline [2] Sector Analysis - The healthcare sector in Hong Kong showed resilience, with the Wande Hang Seng Healthcare Index rising by 1.93% [3] - The report emphasizes the importance of technological self-reliance as a core theme for future developments in the Hong Kong stock market, highlighting opportunities in sectors such as artificial intelligence, semiconductors, and industrial software [3] - Companies like ZTE, which are considered undervalued tech leaders, may present new investment opportunities following recent market fluctuations [3] Investment Recommendations - The report suggests focusing on sectors with strong growth potential, including AI applications, semiconductors, and state-owned enterprises with low valuations and high dividends [3] - The upstream non-ferrous metals sector is expected to benefit from anticipated interest rate cuts by the Federal Reserve and strong mid-term performance [3] - Companies benefiting from the "AI+" trend across various industries are also recommended for consideration [3] Company Highlights - The report highlights the strong performance of certain companies, such as Fosun Pharma, which saw a 6.7% increase despite market downturns [3] - The report also notes the impressive delivery figures from electric vehicle manufacturers, with Li Auto's CEO indicating strong demand for new models [9]