Daily focus：Sunny Optical (2382)
The company plans to spin off its automotive optics business for a separate listing, covering high-margin segments such as lenses, modules, and LiDAR. Benefiting from the surge in demand for ADAS, this business has become a core growth engine and effectively diversifies risks associated with mobile phones. The spin-off aims to improve transparency and establish a clear market capitalization anchor, guiding the market to reassess its long-term profit structure and growth value, becoming a key catalyst for driving the company's valuation repair and stock price revaluation.
US military raid on Venezuela
The US military's surprise attack on Venezuela and the capture of Maduro was a geopolitical "black swan" event. However, investors did not panic excessively. Instead, they anticipated that the change in Venezuela's political situation would release its vast oil reserves back into the international market. This shift in supply-side expectations directly triggered a surge in energy stocks. This was mainly due to investors betting that the establishment of a pro-US regime would lead to the lifting of US sanctions, coupled with the possibility that US giants like Chevron would quickly take over and renovate Venezuela's aging oil field facilities. The market anticipated that this would release Venezuela's currently suppressed production capacity (it possesses the world's largest proven reserves). This expectation of increased future supply offset the risk premium of short-term political instability.
On Monday, Hong Kong Stock Connect saw a net inflow of HK$18.7 billion, with the Tracker Fund of Hong Kong (2800) experiencing the largest net inflow at HK$6.83 billion, followed by Kuaishou-W (1024); Tencent Holdings (700) saw the largest net outflow at HK$920 million, followed by China Mobile (941).
Hong Kong stocks rose across the board throughout the day. The Hang Seng Index opened higher and extended its gains, closing up 363 points or 1.38% at 26,710; the H-share Index rose 95 points or 1.05% to 9,244; and the Hang Seng Tech Index rose 83 points or 1.46% to 5,825. Total turnover for the day was approximately HK$291.7 billion. SenseTime-W (0020) led the gains, rising nearly 6%, driven by demand for artificial intelligence and market optimism. China Hongqiao (1378) rose 6.1%, benefiting from a rebound in non-ferrous metal prices. JD Health (6618) rose 5.4%, due to a general recovery in the healthcare sector.
Source: KGI Investment Products and Solutions Department
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Minutes from the December FOMC meeting showed notable division among officials on the policy path, raising the likelihood of a pause at an upcoming meeting. Most officials believe shifting policy toward neutral would help avoid further labor-market deterioration…