Daily Investment Strategy
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Swire Pacific (19) : Swire Pacific maintained a solid overall operating performance as of the fourth quarter of 2025. While the Hong Kong office market remained in a period of adjustment, with the overall occupancy rate slightly adjusted to 91%, the decline was controlled. The Mainland retail segment performed exceptionally well, becoming the core engine of revenue growth. Benefiting from the effective tenant mix optimization strategy, HKRI Taikoo Hui in Shanghai recorded a remarkable 49.6% year-on-year increase in retail sales, with the occupancy rate also climbing to 96%. Following the completion of the North Zone optimization project, Sanlitun Taikoo Li in Beijing also saw a strong 11.2% increase in sales, with an occupancy rate reaching 99%. With Chengdu Taikoo Li and Shanghai Qiantan Taikoo Li recording robust growth of 6.5% and 6.9% respectively, the recovery momentum of high-end consumption in mainland China is strong, and brand upgrading has yielded significant results.
ADP Private Sector Employment Data Far Below Expectations
US ADP private sector employment data for January showed an increase of only 22,000 jobs, far below market expectations of 45,000. This significant slowdown has sparked investor concerns about a cooling labor market and weakening economic recovery momentum. Affected by weak macroeconomic data, market risk aversion intensified, and investors accelerated profit-taking in previously high-performing technology stocks. Among them, semiconductor giant AMD, a core player in the AI computing power field, saw its share price plummet, triggering deeper doubts about the entire AI industry chain. This pessimism is rapidly spreading to other semiconductor companies, leading to an overall sector correction.
Hong Kong Stock Connect recorded a net inflow of HK$24.9 billion on Thursday, with Tencent Holdings (0700) recording the largest net inflow at HK$5.58 billion, followed by the Tracker Fund of Hong Kong (2800); Yangtze Optical Fibre and Cable (6869) recorded the largest net outflow at HK$457 million, followed by Hua Hong Semiconductor (1347).
Leung Kai Tong 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/ADU276/details). He and/or his associate do not have any financial interest in the recommended issuer or new listing applicant.
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