Daily Investment Strategy
Daily focus：Pop Mart（9992）
1Q25 performance was impressive, with revenue growth of 165-170%, a 95-100% increase in the Chinese market, and a 475-480% surge in overseas markets. Looking ahead, the company is promoting globalization by establishing regional headquarters and plans to launch the new product LABUBU V3 at the end of April, which is expected to further drive growth in the second quarter. In the face of tariff challenges, Pop Mart has accelerated the diversification of its supply chain and actively expanded its international market, demonstrating strong growth potential and steady development prospects.
Trade Tensions Ease and Fed Risks Mitigated Drive Market Recovery
US equities staged a robust rebound on Tuesday, with the Dow Jones Industrial Average surging 1,017 points (+2.66%), the S&P 500 up 2.51%, and the Nasdaq climbing 2.71%, as optimism over a potential easing in US-China trade tensions fueled risk appetite. The rally was ignited after Treasury Secretary Scott Bessent told investors he expects the ongoing trade war with China to de-escalate soon, a message that reassured markets rattled by the previous session’s sharp sell-off and helped recover a significant portion of recent losses. This positive sentiment was further supported when President Trump clarified he had no intention of firing Federal Reserve Chair Jerome Powell, easing fears of a direct confrontation over Fed independence that had unsettled investors and contributed to Monday’s more than 2% drop in all major indices. Nevertheless, market participants remain cautious, as Trump’s persistent criticism of Powell and calls for immediate rate cuts continue to stoke concerns about the central bank’s autonomy and the outlook for US monetary policy. With attention now shifting toward upcoming corporate earnings and the trajectory of trade negotiations, the market’s sharp rebound underscores both the sensitivity of equities to political developments and the ongoing volatility driven by macroeconomic uncertainty.
Hong Kong Stock Connect recorded a net inflow of HK$21.4bn on Tuesday, of which Tracker Fund of Hong Kong (2800) recorded the largest net inflow of HK$9.4bn, followed by Hang Seng China Enterprises (2828); Xiaomi Group (1810) recorded the largest net outflow of HK$1.2bn, followed by Zijin Mining (2899).
Cheung Cho Shing, Joseph is a SFC licensed person accredited to KGI Group to carry on regulated activities (for details, please refer to:https://apps.sfc.hk/publicregWeb/indi/ACQ030/details). He and/or his associate do not have any financial interest in the recommended issuer or new listing applicant.
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