Daily Investment Strategy
Daily focus：SF Holding (6936)
November logistics data shows the industry is undergoing a crucial transformation from a "price war" to high-quality development. During the Double 11 shopping festival, the industry's total parcel volume reached 13.94 billion, with a single-day peak of 777 million parcels, and the average daily processing volume increased by 18% compared to normal days. Unlike previous years' focus on scale, this year the market is paying more attention to rational pricing and service quality under regulatory guidance, resulting in a narrowing trend in the overall decline in per-parcel prices.
University of Michigan Data Shows Mixed Results
The latest data from the University of Michigan reveals a complex and mixed picture of the US economy. While the final December consumer confidence index rose slightly to 52.9, it remained below market expectations and at a historically low level, reflecting extremely fragile consumer sentiment. On the positive side, inflation expectations cooled significantly, with the one-year inflation expectation falling to 4.2%, a new low in 11 months, and the long-term expectation also declining to 3.2%, indicating that the Federal Reserve's anti-inflation measures are gradually taking effect, and consumer panic about runaway prices has eased somewhat. However, underlying concerns cannot be ignored. Consumers' assessment of the "current situation" has declined rather than improved, and anxiety about the labor market is replacing inflation as the new source of panic.
Hong Kong Stock Connect saw a net inflow of HK$3.37 billion on Friday, with Tencent Holdings (700) experiencing the largest net inflow at HK$1.12 billion, followed by Alibaba (9988); China Mobile (941) saw the largest net outflow at HK$1.05 billion, followed by Horizon Robotics (9660).
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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