TENCENT(HK:00700) Ping An Securities Hongkong·2025-11-11 01:42Market 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 US stock market saw gains, led by technology stocks, with the Nasdaq rising over 500 points [2] - Southbound funds through the Stock Connect recorded a net inflow of 6.654 billion HKD on November 10, marking a significant milestone for the Hong Kong market [3] Key Sectors - Consumer stocks, particularly in the liquor, tourism, and retail sectors, showed strong performance in the Hong Kong market [1] - The report emphasizes the importance of technology self-reliance as a core theme for future developments in the Hong Kong stock market, with opportunities in AI, semiconductors, and industrial software [3] - Central state-owned enterprises with low valuations and high dividends, such as China National Offshore Oil Corporation, are highlighted as attractive investment options [3][8] Company Highlights - Baidu Group launched the Xiaodu AI glasses Pro, which features advanced technology and is expected to drive growth in the upstream consumer electronics supply chain [8] - China National Offshore Oil Corporation saw a stock increase of 5.95%, reflecting its status as a low-valued, high-dividend central enterprise [1][3] - The report suggests monitoring companies like China Mobile and China Unicom for their leadership in the telecommunications sector, which is advancing in AI applications [8] Investment Recommendations - The report recommends focusing on sectors benefiting from the anticipated Federal Reserve interest rate cuts, particularly upstream non-ferrous metals [3] - It also suggests continued attention to technology sectors empowered by "AI+" applications and leading companies across various industries [3]