越秀证券每日晨报-20260224

Market Performance - The Hang Seng Index closed at 27,027, up 1.76% with a year-to-date increase of 5.45% [1] - The Hang Seng Tech Index rose by 1.34% to 5,417, but is down 1.78% year-to-date [1] - The Shanghai Composite Index increased by 1.41% to 4,123, with a year-to-date rise of 3.89% [4] - The Dow Jones Index reached a new high, closing at 50,135, up 0.04% [4] Currency Trends - The Renminbi Index stands at 98.340, with a 1-month increase of 0.36% and a 6-month increase of 1.44% [2] - The Euro to USD exchange rate is at 1.187, reflecting a 1-month increase of 1.98% [2] Commodity Prices - Brent crude oil is priced at $67.630 per barrel, up 7.71% over the past month [3] - Gold has seen a significant increase of 11.38% in the last month, priced at $5,022.91 per ounce [3] - Silver prices have surged by 2.49% to $81.850 per ounce, with a remarkable 117.60% increase over the past six months [3] Company Financials - Hong Kong Telecom (06823) reported a 4% increase in EBITDA for the year ending December 31, 2025, with total revenue rising by 5% to HKD 365.53 billion [9] - The number of 5G plan users in Hong Kong Telecom's postpaid customer base exceeded 2 million, accounting for 60% of the total [9][10] - Local data service revenue grew by 6% to HKD 143.10 billion, contributing to a 3% increase in overall telecommunications service revenue [10] Mortgage Insurance Trends - In January, new mortgage insurance applications in Hong Kong fell by 8.7% to 460 cases, marking a 7-year low [11] - The demand for high loan-to-value mortgage insurance has decreased significantly due to relaxed mortgage policies [12] Economic Indicators - The New York Fed reported a decrease in inflation expectations to 3.1% for the next year, down from 3.4% in December [13][14] - The Federal Reserve's outlook on the U.S. fiscal situation and economic growth remains optimistic, with expectations of a significant GDP growth boost [15]