平安证券（香港）港股晨报-20260116

Market Overview - The Hong Kong stock market experienced fluctuations, with the Hang Seng Index closing at 23,831 points, down 145 points or 0.61% [1] - The US stock market saw slight gains, with the Dow Jones up 0.6% at 49,442.44 points, driven by strong financial sector performance and AI demand [2] - The semiconductor sector in Hong Kong showed positive performance, with Huahong Semiconductor rising 6.3% to a historical high [3] Investment Opportunities - The report emphasizes the importance of "technological self-reliance" and AI applications as key themes for future growth in the Hong Kong stock market, suggesting that leading companies in these sectors may see long-term development opportunities [3] - Recommended sectors for investment include: 1. Technology sectors supported by policies for AI, semiconductors, and industrial software [3] 2. Consumer sectors benefiting from domestic demand expansion policies, such as sports apparel and non-essential services [3] 3. Central state-owned enterprises with low valuations and high dividends across various industries [3] 4. Upstream non-ferrous metals benefiting from anticipated interest rate cuts by the Federal Reserve in 2026 [3] Company Highlights - China Unicom (0762.HK) is highlighted for its strong performance in digital technology services, with a projected revenue increase in its smart network business and significant R&D investment [10] - Tencent (00700.HK) repurchased 1.006 million shares for 636 million HKD, indicating confidence in its stock [12] - Alibaba (09988.HK) launched AI shopping features in its app, achieving over 100 million monthly active users within two months [12]