Market Overview - The Hang Seng Index faces resistance around 27,200 points, with a projected P/E ratio of approximately 13 times over the next 12 months, as the market reacts positively to the easing of trade tensions between China and the US and the Federal Reserve's interest rate cuts [1] - The market remains active with a risk appetite that is relatively positive, as capital rotates among different sectors [1] Short-term Sector Outlook - The focus is on the US jobless claims and the Bank of England's interest rate decision, with expectations of further rate cuts by the Federal Reserve [2] - The macroeconomic environment indicates a potential for two more rate cuts by the Federal Reserve by the end of the year, with the latest cut being a risk management decision [2][7] Corporate News - Zijin Mining is reportedly set to launch an IPO in Hong Kong, while Alibaba's AI chip development is noted to be competitive with Nvidia's offerings [3] - HSBC is rumored to be seeking to sell a real estate mortgage loan portfolio valued at 7.8 billion [3] Economic Indicators - The US Federal Reserve's recent rate cut of 0.25% aligns with market expectations, with projections for two additional cuts by year-end [3][7] - The unemployment rate in China for youth aged 16-24 has risen to 18.9%, marking a new high [8] Industry Developments - The Chinese government is pushing for leading companies to accelerate the development of self-controlled secure chips, indicating a shift towards risk-driven cybersecurity needs [7] - The Ministry of Commerce plans to expand service consumption and introduce high-quality development measures for the accommodation industry [8] Stock Market Performance - The Hang Seng Index closed at 26,908 points, up 1.78%, with a significant increase in trading volume to 360.3 billion [5] - The performance of various indices shows a year-to-date increase of 34.14% for the Hang Seng Index and 41.77% for the Hang Seng Tech Index [4] Regulatory Changes - The Chinese government has instructed major tech companies to halt purchases of Nvidia AI chips, indicating a focus on domestic chip production capabilities [7] - The Ministry of Industry and Information Technology is seeking public opinion on mandatory safety standards for intelligent connected vehicles [7]