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][5] - The market turnover decreased to 82.799 billion, with net inflows of 484 million from the Hong Kong Stock Connect [1][5] - The US stock market closed lower as investors anticipated a successful interest rate cut by the Federal Reserve [2] Key Insights - The report emphasizes that technological self-reliance will remain a core theme for the future of the Hong Kong stock market, with leading companies in relevant sectors likely to see medium to long-term growth opportunities [3] - The semiconductor and robotics sectors showed strong performance last week, indicating a potential for further investment opportunities [3] - The report suggests focusing on sectors such as artificial intelligence, semiconductors, and state-owned enterprises with low valuations and high dividends [3] Company Performance - Notable stock movements included Baidu Group-SW rising by 3.45% and Semiconductor Manufacturing International Corporation increasing by 2.94% [1][5] - In contrast, Pop Mart and Innovent Biologics saw declines of 8.49% and 6.96% respectively [1][5] - The report highlights the performance of companies like Tencent and Alibaba, with Tencent's stock down 0.8% and Alibaba down 1.0% over the past month [15] Industry Trends - The global semiconductor market is projected to reach $208 billion by Q3 2025, marking a 15.8% increase from the previous quarter [9] - The report notes that the domestic semiconductor industry is expected to benefit from favorable policies aimed at promoting self-sufficiency in chip production [9] - The report also highlights the growth in the new energy vehicle market, with a 30% year-on-year increase in sales for the first ten months of 2025 [9]