Jinwu Financial News | The Hang Seng Index closed at 20066 on Friday (24th), up 365 points or 1.9%. The market traded 159.8 billion yuan a day. The national index rose 147 points, or 2.1%, to 7312. The index rose 142 points, or 3.1%, to 4657. The mainland stock market improved, and the Shanghai Composite Index rose 22 points, or 0.7%, to 3252; the Shenzhen Stock Index rose 1.2%. Shunyu (02382) hit a 52-week high and closed up 8%, making it the best performing blue chip. Ten blue chips fell, with Xinao Energy (02688) falling 3.2% as the worst performer.
The Dow closed at 44,424 points, down 140 points or 0.32% on Friday (24th); the index fell 0.29% to 6101 points; the NASDAQ retreated 0.5% to 19954 points; among the blockbuster stocks, Meta stock price rose 1.7%, and its CEO Zuckerberg said on Facebook that the company's capital expenditure this year will be between 60 billion and 65 billion US dollars, far exceeding analysts' estimates of $51.31 billion, and that it plans to significantly expand the artificial intelligence (AI) team; Huida ( NVIDIA) slipped 3.1%, the biggest decline in the Dow. Tesla (Tesla) plans to launch a new Model Y in Europe and the US. The stock price first rose and then fell 1.4%. Boeing recorded significant reserves last quarter, and its stock price fell 1.4% repeatedly; American Express spent more than expected last quarter, and its stock price fell 1.5%. The performance outlook for Texas Instruments fell short of expectations, and the stock price fell 7.5%. The Asia-Pacific stock market moved individually this morning (27th). The Nikkei 225 Index now reports 40043 points, up 111 points, or 0.28%. The South Korea Composite Index now stands at 2,536 points, up 21 points, or 0.85%. The results of the Federal Reserve's interest rate discussions this week may affect the trend of Hong Kong stocks.
Market Focus: Qiutai Technology (01478)
On January 20, the Mainland mobile phone subsidy officially began. A 15% subsidy will be provided for mobile phones, tablets and smartwatches with a price of less than 6,000 yuan, with an upper limit of 500 yuan. According to reports, several e-commerce platforms have already launched state subsidies. According to JD data, as of 12 o'clock on January 20, the state subsidized the launch of mobile phones in provinces and cities. Mobile phone sales increased 200% over the previous month, tablet sales increased 300% during the season, and smart children's watch sales increased 100% over the previous quarter. The stimulus subsidy program will stimulate the recovery of the consumer electronics market in 2025. Qiutai Technology may be one of the main beneficiaries. The Group announced that the consolidated profit for the year ended December 31, 2024 is expected to increase by about 2 to 2.8 times compared to the 2023 comprehensive profit of approximately RMB 83.531 million, to approximately RMB 0.25 billion to RMB 0.32 billion. The increase in comprehensive profit was mainly due to the further entry of artificial intelligence into the consumer scenario. The smartphone, intelligent driving and IoT smart terminal markets continued to improve, and the supply share of camera modules and fingerprint recognition modules increased, leading to an increase in sales volume and a year-on-year increase in revenue. Looking at the medium to long term, the mobile phone business is expected to continue to benefit from the industry's upturn; the non-mobile phone sector is also rapidly succeeding, and we are optimistic about the long-term growth opportunities of automotive CCM. Target price is $9.7, stop loss price is $5.5.
(The author is a licensed person from the Securities Regulatory Commission and the author does not hold the above shares)
Author: Dr. Tang Sheng-hing, Chairman of the Hong Kong Association of Equities Analysts
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