信达国际控股港股晨报-20260108

Market Overview - The Hang Seng Index is expected to fluctuate around 26,000 points in the short term, influenced by the Federal Reserve's recent interest rate cut and anticipated dovish monetary policy shifts in 2026 [2] - The U.S. Federal Reserve announced a 0.25% interest rate cut, marking the third consecutive reduction in 2025, with projections for one more cut in 2026 and 2027 [3] - The Chinese economy is facing challenges, with a focus on stabilizing growth and investment, as indicated by the recent Central Economic Work Conference [2] Company News - Baidu Group plans to spin off its Kunlun Chip business, aiming to raise up to $2 billion through an IPO [9] - Kuaishou is reportedly considering its first issuance of offshore bonds, joining the trend of Chinese tech companies tapping into global debt markets [9] - Alibaba's Gaode has upgraded its street view feature, providing immersive experiences for over one million merchants [9] - Lenovo has launched its first personal super intelligent device, Lenovo Qira, at the CES, enhancing AI integration across various platforms [9] Economic Indicators - China's foreign exchange reserves increased for five consecutive months, with a notable rise in gold purchases over the past 14 months [7] - The U.S. ADP reported a lower-than-expected increase in private sector jobs for December, with only 41,000 new positions added [8] - The JOLTS report indicated a decline in job openings in the U.S. to 7.146 million, below market expectations [8] Sector Focus - The biopharmaceutical sector in China saw a record high in new drug licensing transactions last year, indicating sustained demand [6] - The chip sector is witnessing domestic GPU companies entering the Hong Kong market, reflecting growth in the semiconductor industry [6] - The insurance sector is benefiting from strong A-share performance, leading to improved investment returns [6]