Xin Da Guo Ji Kong Gu·2025-12-30 01:53Market Overview - The Hang Seng Index (HSI) has short-term support at the 25,000 point level, with expectations of two interest rate cuts in 2026 following the Federal Reserve's recent 0.25% rate cut, which aligns with market predictions [1] - The Chinese government is focusing on stabilizing investment and addressing supply-demand imbalances, with a slight increase in growth signals compared to previous meetings [1] - The HSI has seen significant gains this year, leading to profit-taking incentives as trading volume decreases [1] Company News - Semiconductor Manufacturing International Corporation (SMIC) is acquiring a 49% stake in Northern SMIC for a total consideration of 40.6 billion RMB, enhancing its asset quality and business synergy [3][10] - Meituan is distributing 45 million large consumption vouchers to consumers, aiming to boost sales during the promotional period [3][10] - Wall Street's recent performance shows a decline, with the Dow and Nasdaq both down by 0.5% [5] Industry Insights - The AI chip sector is gaining traction, with companies like Birran Technology seeing oversubscription of over 1,890 times in their public offering [3][10] - The electric vehicle export from China surged by 87% year-on-year in November, indicating strong demand in international markets [8] - The Chinese government plans to lower import tariffs on key components and battery materials starting January 1, 2026, to support technological advancement and economic growth [8] Economic Indicators - The U.S. Federal Reserve has adjusted its GDP growth forecast for 2026 to 2.3%, while lowering the inflation forecast to 2.4% [3] - Hong Kong's exports rose by 18.8% and imports by 18.1% in November, exceeding market expectations [8] - The profit of state-owned enterprises in China decreased by 3.1% year-on-year in the first eleven months of the year, with total revenue reaching 75.63 trillion RMB [8]