中泰国际每日晨讯-20250603

Market Overview - On June 2, the Hang Seng Index opened lower and fell over 2.5% to 22,668 points before narrowing its losses, closing down 155 points or 0.7% at 23,134 points[1] - The Hang Seng Tech Index decreased by 0.8%, closing at 5,128 points, with total market turnover at approximately HKD 139.4 billion[1] - The market is showing signs of deeper adjustments if it lacks positive catalysts to rebound above 23,400 points[1] Sector Performance - Among major internet stocks, only Tencent (700 HK) and Xiaomi (1810 HK) saw gains, while Alibaba (9988 HK), Meituan (3690 HK), and JD.com (9618 HK) fell between 0.2% and 1.7%[1] - Macau gaming stocks outperformed the market, with May gaming revenue reaching MOP 21.19 billion, significantly exceeding expectations and marking a post-pandemic monthly high[1] Economic Indicators - New home sales in 30 major cities fell by 12.0% year-on-year, with first-tier cities showing a 10.4% increase, while second and third-tier cities dropped by 23.6% and 4.7% respectively[3] - The average new residential price in 100 cities rose by 2.6% year-on-year in May, with first-tier cities increasing by 6.2%[3] Industry Dynamics - The automotive sector is under pressure, with major companies reporting slower sales growth in May compared to April; BYD (1211 HK) saw a 15.3% increase, while Geely (175 HK) reported a 46% increase[4] - The healthcare sector followed the market down, with the Hang Seng Healthcare Index dropping by 1.9%[5] Investment Strategies - The current market lacks positive catalysts, suggesting a "defensive counterattack" strategy focusing on high-dividend sectors such as telecommunications, utilities, and energy[2] - The stock market may face technical pullbacks, with a support level at 22,500 points[2]