Daily focus：UBTECH (9880)
UBTECH recently signed a strategic cooperation agreement with Zhuoshi Future. The two companies will focus on "industry models + embodied intelligence," planning to jointly deploy 10,000 humanoid robots over the next five years. This cooperation not only covers industrial manufacturing but also extends to high-potential fields such as healthcare and education, targeting commercial orders worth tens of billions of RMB. This signifies that UBTECH has successfully moved beyond the simple "proof of concept" stage and officially entered the fast lane of large-scale commercialization, providing a high degree of certainty for future revenue.
Markets Incline for Precautionary Easing by the Fed
Overnight, US initial jobless claims unexpectedly fell to a three-year low, creating a strong "data divergence" with the earlier weak ADP employment report and record corporate layoffs, leading to a divergence in market opinions regarding a soft landing for the US economy. However, the interest rate futures market has become more aggressive in betting that the Fed will ignore the data noise and implement rate cuts. This unusual phenomenon reveals a key shift in the current macroeconomic logic: investors believe the Fed's policy response function has shifted from simple "data dependence" to "precautionary easing," meaning policymakers are more inclined to proactively cut rates to hedge against potential economic slowdown risks.
Hong Kong Stock Connect saw a net inflow of HK$1.5 billion on Thursday, with the Tracker Fund of Hong Kong (2800) experiencing the largest net inflow at HK$2.61 billion, followed by WuXi Biologics (2269). On the other hand, Tencent Holdings (700) recorded the largest net outflow at HK$1.35 billion, followed by SMIC (981).
The stock market opened lower but rallied throughout the day, with a sustained upward trend in the afternoon. The Hang Seng Index closed up 0.58%, once again surpassing the 26,000-point mark; the H-share Index rose 1.01%; and the Hang Seng Tech Index rose 0.84%. Insurance stocks performed best, with China Taiping (966) surging 7.10% and Ping An Insurance (2318) rising 6.71%. In the technology sector, Baidu Group (9888) saw a sharp rise in the afternoon, closing up 5.01%, amid rumors that its subsidiary Kunlun Core plans to list in Hong Kong. Non-ferrous metal stocks remained active, with Jiangxi Copper (358) rising 6.11% and Aluminum Corporation of China (2600) rising 5.41%. On the downside, catering stock Meet Noodles (2408) plummeted 27.84%.
Source: KGI Investment Products and Solutions Department
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