信达国际控股港股晨报-20251210

Market Overview - The Hang Seng Index has short-term support at the 25,000 point level, with recent hawkish signals from the Federal Reserve indicating limited rate cut space in 2026. Economic conditions in mainland China are cooling, and corporate earnings in Hong Kong are unlikely to improve significantly in the short term [2][3] - The Hang Seng Index closed at 25,434, down 1.29% year-to-date, with a cumulative increase of 26.79% [5] Sector Focus - The AI sector is gaining attention with the launch of AI glasses and smartphones, benefiting related stocks [7] - The biopharmaceutical sector is expected to thrive due to rising flu cases and favorable financing conditions [7] - The insurance sector is seeing improved investment returns driven by strong A-share performance [7] Corporate News - Vanke (2202) is reportedly willing to pay some interest to bondholders to facilitate debt extension negotiations [10] - Xiaomi (1810) is undergoing personnel adjustments in China and plans to close unprofitable stores [10] - Longi Green Energy (6869) is raising over HKD 2.2 billion through a nearly 15% discounted share placement [10] - SenseTime (0020) reports double-digit growth in domestic chip computing power and plans to launch a new generation of AI models in spring [10] - Novartis (NVS) has reached a USD 1.7 billion drug target collaboration agreement with UK biotech company Relation [10] - Midea (0300) has completed its share repurchase plan, buying back 135 million A-shares for approximately CNY 10 billion [10] Economic Indicators - The U.S. job openings reached 7.67 million in October, the highest in five months, alleviating concerns about labor market deterioration [8] - China's urban rail transit completed a passenger volume of 2.83 billion in November, showing a 4.4% year-on-year increase [8] - The Chinese express delivery development index for November was 478.1, up 3% year-on-year, indicating a positive trend in the industry [8] Investment Sentiment - Approximately half of the surveyed companies in Hong Kong are optimistic about the economic outlook for next year, a significant increase from 18% last year [9] - The Hong Kong government is planning to implement an automatic exchange of tax information related to cryptocurrency transactions starting in 2028 [9]