中泰国际：港地产股领涨，新鸿基地产（16HK）2026上半年利润同比增长17%，高于市场预期

Market Overview - On February 27, Hong Kong stocks rebounded, with the Hang Seng Index closing down 249 points (0.9%) at 26,630 points[1] - The Hang Seng Tech Index rose 28 points (0.5%) to close at 5,137 points[1] - Total market turnover increased to HKD 288.4 billion from HKD 259.3 billion the previous day[1] - Net inflow of southbound funds approached HKD 15 billion[1] Sector Performance - Hong Kong real estate stocks led the gains, with Sun Hung Kai Properties (16 HK) reporting a 17% year-on-year profit increase for H1 2026, exceeding market expectations[1] - Sun Hung Kai Properties' shares rose 7.1%, reaching a one-year high[1] - The coal sector strengthened, with Yancoal Energy (1171 HK) up 4.1% and China Shenhua (1088 HK) rising 4%-7%, both hitting three-year highs[1] Economic Indicators - The USD/CNY exchange rate closed at 6.8559, down 162 pips, with the official closing price rising 1.35%, marking the largest monthly increase in 1.5 years[3] - The People's Bank of China announced a reduction in the forward foreign exchange risk reserve ratio, expected to ease the appreciation of the yuan[3] U.S. Market Insights - In January, U.S. PPI and core PPI rose 2.9% and 3.6% year-on-year, respectively, with core PPI reaching a new high since July last year[2] - The Dow Jones Index closed down 521 points (1.1%) at 48,977 points, while the Nasdaq fell 210 points (0.9%) to 22,668 points[2] Industry Developments - The automotive sector saw the inclusion of Xiaoma Zhixing (2026 HK) and Hesai (2525 HK) in the MSCI China Index, with Xiaoma reporting significant growth in paid orders during the Chinese New Year[4] - In the healthcare sector, the Hang Seng Healthcare Index rebounded 1.7%, with WuXi AppTec (2268 HK) announcing a strategic partnership with Earendil Labs, potentially worth up to USD 885 million[5]