家电股逆市走强，国家发改委加力支持家电产品以旧换新，有望持续拉动换新需求释放。海信家电(00921)涨3.28%；海尔智家(06690)涨0.95%；TCL电子(01070)涨0.16%。The decline in trade style affects market risk appetite, and institutions say brokerage valuations have not reflected expectations for profit improvement.
According to Zhitong Finance APP, the Hang Seng Index falls by 1.59%, at 19137 points; the Hang Seng TECH Index drops by 2.22%.
TENCENT (00700) fell more than 3% in early trading.
Home Appliances stocks performed well against the market trend as the National Development and Reform Commission increased support for replacing old home appliance products, which is expected to continue to drive the demand for upgrades. HISENSE HA (00921) rose by 3.28%; HAIER SMARTHOME (06690) rose by 0.95%; TCL ELECTRONICS (01070) rose by 0.16%.
Yihuatong (02402) rose over 3% again, as Henan announced that hydrogen energy vehicles will be exempt from highway fees, and hydrogen energy vehicles have commercial potential.
Weichai Power (02338) rose over 3%, as the expansion of subsidies for domestic IV standard heavy trucks will create growth space for the company's sales.
COSCO SHIP ENGY (01138) rose over 9% in early trading, with reports indicating that the USA plans to impose more sanctions on tankers carrying Russian oil.
SINOTRUK (03808) rises over 3% again, a new upward cycle for heavy trucks may begin, and the domestic market's new demand demonstrates strong resilience.
LINGBAO GOLD (03330) rises over 4%, the central bank has increased its gold holdings for the second consecutive month, and Institutions are bullish on this year's gold price performance.
China-Affiliated Brokerage stocks fell across the board in early trading, the withdrawal of trading styles affects market risk appetite, and Institutions state that brokerage valuations do not reflect earnings improvement expectations. China Merchants (06099) fell by 5%; Guolian (01456) fell by 3.72%; Everbright (06178) fell by 2.75%; CSC (06066) fell by 3%.
KEYMED BIO-B (02162) falls more than 5% again, with a cumulative decline of more than 30% over the past month, Citigroup states that the price drop of Dupixent exceeds market expectations.
ZHONGSHENG HLDG (00881) falls over 3%, and the demand and price trends for electric vehicles in the first quarter of 2025 may decline quarter-on-quarter due to seasonal effects.
China Shenhua Energy (01088) falls nearly 5%, as the coal, steel, and coking industry chain operations entering the new year show no improvement, with limited growth in coal demand.
ZTE (00763) falls over 4% again, with Jefferies stating that the market's expectations for the company's AI are too high, and operators' capital expenditures reach a peak, dragging down the company's profit outlook.
