信达国际港股晨报快-20250415

Market Overview - The Hang Seng Index is expected to face resistance at 22,000 points due to increased tariffs on Chinese imports and ongoing trade tensions between the US and China [1] - The Chinese government is anticipated to implement measures to stimulate economic growth and stabilize capital markets, including additional bond issuance in Q3 [1] Sector Outlook - High dividend stocks are favored in the current volatile market as investors seek safe havens amid rising expectations for interest rate cuts [2] Macro Focus - China's exports in March increased by 12.4% year-on-year, surpassing expectations, while imports fell by 4.3%, leading to a trade surplus of $102.64 billion [4][7] - The US Federal Reserve maintained interest rates but projected two rate cuts this year, with GDP growth forecasts for 2025 revised down from 2.1$500 billion over five years [9] Economic Data - China's new RMB loans for Q1 were reported at 97.8 billion yuan, exceeding expectations [10] - The US PPI for March showed a year-on-year increase of 2.7%, lower than the previous value of 3.2% [10]