1124港股日评：港股市场情绪回暖，权重拉升恒生科技-20251125

Market Overview - On November 24, 2025, the Hong Kong stock market recorded a total trading volume of HKD 302.64 billion, with net inflows from southbound funds amounting to HKD 8.571 billion. All three major indices in Hong Kong closed higher, with the Hang Seng Tech Index performing particularly well due to the influence of heavyweight stocks [2][5][8]. Key Events - The Hang Seng Index rose by 1.97% to 25,716.5, the Hang Seng Tech Index increased by 2.78% to 5,545.56, and the Hang Seng China Enterprises Index climbed by 1.79% to 9,079.42. In contrast, the A-share market saw the Shanghai Composite Index rise by 0.05%, while the CSI 300 experienced a slight decline of 0.12% [5][12]. Industry Insights - The defense and military sector saw a significant increase of 5.64%, driven by the Ministry of Industry and Information Technology's announcement of the commercial trial for satellite IoT services and the progress of the Zhuque-3 rocket test. The media sector also performed well, with leading companies reporting strong Q3 results and receiving authoritative recognition for their AI applications [5][8]. Future Outlook - The report suggests a potential recovery in market sentiment, with historical data indicating that the market may rebound from its current low levels. The medium to long-term outlook is driven by the "14th Five-Year Plan," focusing on four key areas: technological innovation, strategic resource reassessment, supply chain optimization, and improved financial conditions. This indicates a structural upgrade opportunity in various industries [8][10].