中泰国际每日晨讯-20260114

Market Overview - The Hong Kong stock market showed a narrowing upward trend, with the Hang Seng Index and the Hang Seng China Enterprises Index closing at 26,848 points and 9,285 points, up 0.9% and 0.7% respectively, indicating sustained investor confidence as the total turnover reached HKD 315.2 billion, slightly higher than the previous day's HKD 306.2 billion [1] - In sector performance, materials, energy, and healthcare indices rose by 1.9%, 1.6%, and 1.6% respectively, while consumer staples, telecommunications, and information technology sectors saw declines of 0.4%, 0.3%, and 0.1% [1] Real Estate Sector - The Hong Kong real estate sector continued its upward trend, with major companies such as Henderson Land (12 HK), Sun Hung Kai Properties (16 HK), and New World Development (17 HK) rising by 3.0%, 1.2%, and 7.2% respectively [2] - Recent adjustments in housing price forecasts by financial institutions support the view of an improving real estate market, driven by declining interest rates and a projected decrease in new housing supply [2] - The anticipated government announcement at the end of January regarding new housing supply statistics for 2025 is expected to further confirm this trend, with a projected 61.9% year-on-year decrease in private residential construction units for the first three quarters of 2025 [2] Macro Dynamics - The U.S. Consumer Price Index (CPI) for December showed a year-on-year growth of 2.7%, consistent with November's figure and market expectations [3] Automotive Sector - The automotive sector is experiencing changes due to a government announcement that will reduce battery export tax rebates from 9% to 6% starting in April, with a complete elimination by 2027, prompting downstream battery manufacturers to accelerate production and order placements [4] - This policy is expected to lead to a short-term surge in demand for lithium resources, with companies like CATL (3750 HK), Tianqi Lithium (9696 HK), Ganfeng Lithium (1772 HK), and BYD (1211 HK) showing stock price increases of 0.9%, 0.8%, 3.9%, and 1.6% respectively [4] Healthcare Sector - The Hang Seng Healthcare Index rose by 1.7%, with WuXi AppTec (2359 HK) announcing a positive earnings forecast, projecting a 15.8% year-on-year revenue increase to RMB 45.46 billion and a 102.7% increase in net profit to RMB 19.15 billion for 2025 [5] - WuXi AppTec's core business profitability, as measured by Non-IFRS adjusted net profit, is expected to rise by 41.3% to RMB 14.96 billion, exceeding Bloomberg's forecasts, which contributed to an 8.3% increase in its stock price [5] - WuXi Biologics (2269 HK) is also expected to report strong 2025 results, while Rongchang Biologics (9995 HK) signed an exclusive licensing agreement with AbbVie (ABBV US) for its new PD-1/VEGF dual-specific antibody drug, RC148, which includes an upfront payment of USD 650 million and potential milestone payments of up to USD 4.95 billion [5] Energy Sector - The new energy and utilities sectors displayed mixed performance, lacking significant new developments, while the thermal power sector generally rose, benefiting from stable coal prices despite colder weather in some regions [6] - Companies such as Huaneng International (902 HK), Datang International (991 HK), and Huadian International (1071 HK) saw stock price increases ranging from 1.4% to 2.2% [6]