Daily Investment Strategy
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Xiaomi Group (1810): Although the company's profits have been squeezed by rising memory costs, it has maintained its market share through premiumization and price adjustments. The group is investing heavily in R&D to deepen its expertise in AI and electric vehicles, with new car orders showing promising results. This, combined with its IoT strategy, is building technological barriers. With expansion into overseas markets and the emergence of synergies across its three main businesses, its long-term growth path is clear, and its leading position is becoming increasingly solidified.
Expectations for a US-Iran ceasefire and peace talks are rising
The Middle East conflict continues, but expectations for a US-Iran ceasefire and peace talks are rising. The US has proposed a peace plan to Iran with "15 conditions," covering restrictions on its nuclear program and missile capabilities, and is considering pushing for a one-month ceasefire. On the economic front, the US March composite PMI unexpectedly fell to 51.4, showing accelerated expansion in manufacturing but a slowdown in the service sector. In the stock market, the tech giants underperformed the broader market, with the US software sector ETF plunging over 4%, mainly due to a ripple effect from Amazon's new tool launch. Additionally, cryptocurrency company Circle plummeted nearly 20% due to concerns about stablecoin legislation.
Hong Kong Stock Connect saw a net outflow of HK$27.361 billion on Tuesday, with Tencent Holdings (00700) experiencing the largest inflow at HK$749 million, followed by Pop Mart (09992). The Tracker Fund of Hong Kong (02800) recorded the largest net outflow at HK$13.071 billion, followed by the Hang Seng China Enterprises Fund (02828).
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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