Group 1 - The offshore RMB to USD exchange rate has appreciated, breaking the 7.19 mark for the first time since November last year, driven by multiple factors including the US-China trade dialogue and strong consumption during the May Day holiday [1][2] - On May 2, the offshore RMB to USD exchange rate saw a significant increase, with a single-day rise exceeding 600 basis points, and on May 5, it continued to rise, touching 7.18940 with an intraday increase of over 130 basis points [2] - Analysts attribute the RMB appreciation to several factors, including positive signals from the US regarding tariff negotiations, strong domestic consumption during the holiday, and increased foreign investment in RMB-denominated bonds amid heightened global market volatility [2] Group 2 - Looking ahead, the RMB exchange rate is expected to remain stable with a solid foundation, fluctuating around a reasonable equilibrium level [3] - The domestic economic fundamentals have improved since late last year, with factors such as economic recovery, confidence boosting, risk mitigation, and technological empowerment contributing to the stability of the RMB [3] - The People's Bank of China emphasizes a managed floating exchange rate system based on market supply and demand, aiming to enhance market resilience and stabilize expectations while preventing excessive fluctuations in the exchange rate [3]

Market Overview - The Hong Kong stock market showed mixed performance with the Hang Seng Index up by 0.16%, the Hang Seng China Enterprises Index down by 0.15%, and the Hang Seng Tech Index up by 0.62% [1] Education Sector - Education stocks led the gains, with China Oriental Education rising by 7.5%, Dazhong Education up by 5.19%, and New Oriental-S increasing by 3.16% [1] Healthcare Sector - The healthcare sector saw significant increases, particularly in internet healthcare, biopharmaceuticals, and AI medical concepts. Notable performers included Alibaba Health up by 7.16% and WuXi AppTec up by 4.21% [1] Consumer Sector - The consumer sector, including tobacco, cosmetics, and luxury goods, continued to rise. China Tobacco Hong Kong increased by 6.14%, and Meituan-W rose by 2.88% [2] - The upcoming May Day holiday is expected to boost consumer spending, with potential benefits for the food and beverage industry as well as travel and hospitality sectors [2] Automotive Sector - The automotive sector faced declines, particularly in lithium battery and smart driving concepts. Xpeng Motors fell by 4.48%, and BYD dropped by 2.57% [2] Power Sector - Power stocks, including nuclear and green energy, experienced pullbacks. Longyuan Power decreased by 4.09%, with a reported 21.82% drop in net profit year-on-year [3] Real Estate and Construction - Real estate and construction stocks were under pressure, with CIFI Holdings down by 1.72% and China Resources Cement falling by 2.37% [3] Beverage and Sportswear - Beer and sportswear stocks performed poorly, with Qingdao Beer down by 4.07% and Li Ning down by 2.53% [3] Notable Stocks - Leap Motor saw a significant increase of 8.08% following news of substantial share purchases by its chairman and shareholders [3] - Horizon Robotics rose by 13.71% after announcing a strategic partnership with Denso, a global automotive parts giant [4]

饲料养殖产业日报 日度观点 ◆生猪： 研究员 叶 天 咨询电话：027-65777093 从业编号：F03089203 投资咨询编号：Z0020750 4 月 29 日辽宁现货 14.3-15 元/公斤，较上日涨 0.1 元/公斤；河南 14.6- 15.2 元/公斤，较上日涨 0.1 元/公斤；四川 14.2-14.5 元/公斤，较上日稳 定；广东 15.4-16 元/公斤，较上日稳定，今日早间猪价北涨南稳。月底月 初规模企业缩量、散户抗价情绪仍存，支撑价格，但前期二育强势进场，二 育栏舍利用率已超过一半，部分养殖户预计五一前后出栏，且肥标价差倒挂 以及成本提升，二次育肥进场积极性减弱，后期供应增加。需求端，五一假 期备货需求小幅增加，但猪价偏高，消费处于淡季，屠企利润仍亏损，需求 增量有限，整体供需博弈加剧，猪价频繁震荡整理，关注企业出栏节奏、二 育进出情况。中长期来看，能繁母猪存栏 2024 年 5-11 月缓增，生产性能 提升，在疫情平稳情况 下，4-9 月供应呈增加态势，根据仔猪数据，2024 年 11-2025 年 2 月仔猪同比增加，二季度出栏压力仍大，叠加生猪体重偏 高，而上半年消费淡季，在供 ...