Core Insights - The Thai Board of Investment (BOI) and the Stock Exchange of Thailand (SET) have announced a strategic partnership to attract foreign high-tech companies to the Thai capital market and support existing listed companies in their transformation towards a technology-driven "new economy" [1] Group 1: Strategic Focus - The collaboration will focus on two main areas: attracting foreign high-tech companies to list in Thailand and supporting existing listed companies in their transformation and upgrading [1] - The initiative aims to encourage companies to invest in improving production efficiency and increasing added value while achieving long-term growth through sustainable development [1] Group 2: Target Industries - The partnership will initially target three high-tech industries: smart electronics and appliances, electric vehicles, and the digital industry [1] - These industries have seen significant foreign investment in Thailand, with successful listing cases such as Delta Electronics (Thailand) PCL and Cal-Comp Electronics (Thailand) PCL [1] Group 3: Support Mechanisms - The SET will provide support through the "JUMP+ Program," which includes growth planning, investor communication, and enhancing corporate visibility [2] - The BOI will offer tax incentives through the "Smart and Sustainable Industry Plan" [2] - A Fast-Track service will be established to facilitate companies in obtaining both types of support simultaneously [2]

Core Insights - Prologis Group, a leading global provider of supply chain, big data, and new energy infrastructure services and investments, announced a $1.5 billion investment from Abu Dhabi Investment Authority (ADIA) to support the next phase of its business growth [1][2] - The investment will enhance Prologis' financial strength and accelerate the development of its new economy business, focusing on logistics supply chain, digital infrastructure, and new energy sectors [1] Investment Details - The initial deployment of the investment will be $500 million, aimed at strengthening the company's financial capabilities [1] - This investment is a recognition of Prologis' ability to create value in high-growth new economy sectors and its outstanding performance [1] Strategic Partnerships - Prologis has successfully collaborated with ADIA for many years at the fund level, and this new investment marks a deeper partnership at the company level [2] - The investment aligns with ADIA's strategy to expand its investments in the new economy sector [2] Market Opportunities - The new economy sectors that Prologis focuses on are experiencing long-term expansion, driven by trends such as the growth of e-commerce, the acceleration of artificial intelligence and cloud technology, and the global energy transition towards cleaner and sustainable energy [1]

Group 1 - The Chief Investment Officer of China Life, Liu Hui, stated that the overall valuation of A-shares is reasonable and the market bottom is solidified, maintaining an optimistic outlook for A-share investments in the second half of the year [1] - China Life has been approved for QDII investment quotas, which will be directed towards the Hong Kong stock market, focusing on opportunities in the new economy and high dividend sectors [1]

金融界8月26日消息，周二，港股市场低开后震荡续上行，截止午盘，恒生指数跌0.22%报25773.56点， 恒生科技指数涨0.27%报5840.71点，国企指数跌0.11%报9237.89点，红筹指数跌0.43%报4369.65点。 盘面上，大型科技股部分由跌转涨，网易、快手、小米、腾讯均翻红，阿里巴巴仍跌超1%，美团、百 度小幅走低；美联储转"鸽"，降息预期下金价上涨逻辑更为清晰，黄金股带领有色金属股齐涨，中国黄 金国际、灵宝黄金涨超6%；9月新品催化苹果概念股普升，高伟电子、蓝思科技领涨；濠赌股拉升，金 界控股绩后放量大涨超19%表现最佳，且刷新阶段新高，汽车股、纸业股、乳制品股、航空股多数上 涨。另一方面，特朗普称将迅速对药品征收关税，生物医药股普遍走低，信达生物、石药集团等创新药 概念股齐跌；昨日上海调整限购，分析指市场更需要的是"持续添柴"，昨日走强的内房股普跌，军工 股、中资券商股、半导体芯片股表现低迷。 企业新闻 海底捞(06862.HK)：上半年收入207.03亿元，同比下降3.7%；净利润17.6亿元，同比下跌13.7%。 钧达股份(02865.HK)：上半年收入约36.56亿元，同比减少4 ...

Group 1 - The Hang Seng Technology Index increased by 3.1%, while the CSI Hong Kong Stock Connect Consumer Theme Index rose by 2.8%, and the CSI Hong Kong Stock Connect Internet Index gained 2.6% [1] - The Hang Seng Hong Kong Stock Connect New Economy Index saw an increase of 2.4%, whereas the CSI Hong Kong Stock Connect Medical and Health Comprehensive Index decreased by 0.3% [1] - The E Fund Hang Seng Technology ETF (513010) recorded a trading volume exceeding 1 billion yuan, with a net inflow of 2.39 billion yuan over the past month, bringing its total size to over 15 billion yuan [1] Group 2 - The Hang Seng New Economy ETF (513320) tracks the Hang Seng Hong Kong Stock Connect New Economy Index, which consists of the 50 largest stocks in "new economy" sectors within the Hong Kong Stock Connect range [2] - The index has a rolling price-to-earnings ratio of 23.9 times and has a valuation percentile of 49.3% since its inception in 2018 [2] - The E Fund Hang Seng Technology ETF (513010) tracks the Hang Seng Technology Index, composed of the 30 largest stocks related to technology listed in Hong Kong, with over 90% of its composition in information technology and consumer discretionary sectors [2] Group 3 - The CSI Hong Kong Stock Connect Medical and Health Comprehensive Index (513200) includes 50 liquid and large-cap stocks in the healthcare sector, with a weight of over 90% in the healthcare industry [2] - This index has a rolling price-to-earnings ratio of 31.7 times and a valuation percentile of 49.0% since its inception in 2017 [2] - The CSI Hong Kong Stock Connect Internet Index (513040) consists of 30 leading internet companies, primarily in information technology and consumer discretionary sectors, with a rolling price-to-earnings ratio of 23.6 times and a valuation percentile of 19.1% since its inception in 2021 [2] Group 4 - The E Fund Hong Kong Consumption ETF (513070) tracks the CSI Hong Kong Stock Connect Consumer Theme Index, which includes 50 large-cap consumer stocks with good liquidity, where consumer discretionary accounts for nearly 70% [3] - This index has increased by 2.8% and has a rolling price-to-earnings ratio of 21.3 times, with a valuation percentile of 19.3% since its inception in 2020 [3]

招商策略认为，展望后市，仍然对港股市场保持乐观态度。截至目前数据，港股中报盈利向好，业绩预 喜率创三年来新高，"新经济"含量更高的港股盈利或先于A股持续改善。在前几次牛市中港股指数高度 略逊于A股，所以在本轮配置时，建议聚焦与A股存在差异化的方向，节奏上建议先创新药(流动性宽松 +BD数据持续向好)，再互联网(外卖大战拐点出现)，最后新消费(宏观经济与盈利拐点出现)。 本文转载自"腾讯自选股"，智通财经编辑：徐文强。 国金证券指出，由于9月降息或已成定局，考虑到港股今年相对A股的超额已经大幅回吐，A-H市场将重 回统一起跑线，企业盈利变化将成为两地市场表现差异的驱动。 华泰证券发布港股策略研报称，往后看，外资依然有继续增配中国市场空间：1)海外流动性易松难紧， 不仅因为货币政策，还有金融监管、发债久期调整等，美元流动性可能趋势偏松；2)国内基本面预期改 善，人民币汇率仍有升值空间。但也需要注意的是，当前外资在港股市场重要性已经有所下降，南向资 金在互联互通标的中成交占比已经超过40%，其未来流入的持续性同样甚至更加值得关注。 恒生指数高开1.06%，恒生科技指数涨1.49%。蔚来涨近15%，百度集团涨近3%， ...

Market Overview - The Hong Kong stock market saw a significant rise, with the Hang Seng Index increasing by 0.93% to close at 25,339.14 points, and the Hang Seng Technology Index rising by nearly 3% [1] - The overall trading volume for the day was HKD 285.58 billion, with the Hang Seng Index gaining 0.27% over the week [1] Blue Chip Performance - Semiconductor company SMIC (00981) led the blue-chip stocks, surging by 10.06% to HKD 56.9, contributing 36.87 points to the Hang Seng Index [2] - Other notable performers included Li Ning (02331) up 8.78% and BYD Electronics (00285) up 6.13% [2] Sector Highlights - The technology sector saw a collective rise, with major stocks like Kuaishou and Alibaba increasing by over 4% and nearly 2%, respectively [3] - Chip stocks experienced a significant boost, with Huahong Semiconductor rising by 17.85% and ZTE Corporation increasing by 15.13% [3] Earnings Reports - Miniso (09896) reported a 23.1% year-on-year revenue increase to HKD 4.97 billion, with a net profit growth of 10.6% to HKD 690 million [6] - Kuaishou's revenue grew by 13.1% year-on-year to HKD 35 billion, with adjusted net profit increasing by 20.1% [6] Notable Stock Movements - XPeng Motors (09868) saw a strong performance, rising 13.6% after its CEO purchased shares worth approximately HKD 250 million [7] - NIO (09866) also climbed 11.12% following the announcement of its new ES8 model, which is set to launch in September 2025 [8] Industry Trends - The aviation sector faced declines, with China Southern Airlines (01055) dropping 1.77% amid concerns over demand despite a seasonal increase in capacity [5] - The domestic airline industry reported a 2.3% year-on-year increase in capacity for July, but the growth rate was considered low [5]

Core Viewpoint - The Hong Kong stock market is experiencing a strong performance in the new consumption sector, with notable gains in stocks such as Miniso, XPeng Motors, and NIO, indicating a positive outlook for the market [1] Group 1: Stock Performance - Miniso's stock surged over 19%, reaching a high of 47.16 HKD, marking the highest price since January of this year [1] - Other stocks in the sector, including XPeng Motors and NIO, also saw significant increases of over 11% and 7% respectively [1] - The Hong Kong consumption ETF (513230), which includes leading companies like Miniso and Pop Mart, maintained a strong performance, rising nearly 1.5% during the trading session [1] Group 2: Market Outlook - According to招商策略, there is an optimistic outlook for the Hong Kong stock market, with mid-year earnings showing improvement and a record high in earnings forecast rates over the past three years [1] - The profitability of Hong Kong stocks, particularly those with a higher "new economy" component, is expected to improve ahead of A-shares [1] - The report suggests focusing on differentiated investment strategies compared to A-shares, recommending a sequential approach starting with innovative drugs, followed by the internet sector, and finally new consumption [1] Group 3: Investment Recommendations - Key investment vehicles highlighted include: - Core broad-based Hong Kong ETF: 恒生ETF (159920) [1] - AI and platform economy: 恒生科技指数ETF (513180) [1] - Core consumption assets in Hong Kong: 港股消费ETF (513230) [1] - Global pharmaceutical industry representation: 恒生医药ETF (159892) [1] - Chinese AI technology concept companies: 恒生互联网ETF (513330) [1]

人民财讯8月22日电，招商策略认为，展望后市，仍然对港股市场保持乐观态度。截至目前数据，港股 中报盈利向好，业绩预喜率创三年来新高，"新经济"含量更高的港股盈利或先于A股持续改善。在前几 次牛市中港股指数高度略逊于A股，所以在本轮配置时，建议聚焦与A股存在差异化的方向，节奏上建 议先创新药(流动性宽松+BD数据持续向好)，再互联网(外卖大战拐点出现)，最后新消费(宏观经济与盈 利拐点出现)。 ...

Market Overview - The A-share market experienced fluctuations with mixed performance across the three major indices, and the total trading volume exceeded 2.4 trillion, marking a slight increase compared to the previous day, with trading volume surpassing 2 trillion for seven consecutive trading days [1] Index Performance - Major indices such as the CSI A50 and CSI A100 showed relative activity, while smaller indices like the Sci-Tech Innovation 200 and Shanghai Stock Exchange 580 faced declines [1] - The CSI A50 index rose by 0.77%, and the CSI A100 increased by 0.61%, while the Sci-Tech Innovation 200 fell by 1.33% [2] Sector Analysis - The Hong Kong pharmaceutical sector showed a strong recovery, with related indices such as the CSI Hong Kong Stock Connect Innovative Drug Index and the Hang Seng Innovative Drug Index rising over 2% [1] - The Hang Seng Innovative Drug ETF saw a net subscription of 16 million units, indicating high investor interest [1] Investment Outlook - According to China Merchants Securities, there is an optimistic outlook for the Hong Kong market, with improving mid-year earnings and a higher proportion of "new economy" companies compared to A-shares [1] - The recommendation is to focus on sectors that differ from A-shares, suggesting a sequence of investment starting with innovative drugs, followed by the internet sector, and finally new consumption [1]