Hong Kong Stock Movement
Stocks with High Trading Volume in the Industry
China Cinda had a trading volume of HKD 121 million. According to recent important news:
<ol>
<li>
On September 22, UBS released a research report stating that after China Cinda published its semi-annual financial report for this year, it lowered its earnings per share estimates for this year and next year by 53% and 60%, respectively, reaffirming a &#34;neutral&#34; rating for the stock and slightly lowering the 12-month target price to HKD 1.42, resulting in a 2.92% drop in stock price. UBS pointed out that the core non-performing asset management business remains an operational drag, and weak market sentiment affects disposal turnover.
</li>
<li>
On September 22, Guotai Junan Securities gave China Cinda a neutral rating in its latest research report, reflecting market concerns about its asset quality risks.
</li>
<li>
On September 22, UBS predicted that China Cinda's net profit would resume moderate growth starting in 2026, mainly due to the stability of asset quality. The diversified financial industry ranks 9th, with a market capitalization of HKD 18.588 billion.
</li>
</ol>
Value Partners Group rose 1.55%. Based on recent important news:
<ol>
<li>On September 23, the market expects the Federal Reserve to embark on a more aggressive rate-cutting cycle, accelerating momentum in global stock markets. Value Partners' Chief Investment Officer, Zhang Huixin, stated that the market has reflected expectations of a 75 basis point rate cut this year and next. If the Federal Reserve does not implement larger cuts or makes more dovish statements than the market expects, profit-taking may occur. Global funds are showing renewed interest in the Hong Kong stock market, with Zhang indicating that macro data performance is mixed, and China is expected to maintain a wait-and-see attitude temporarily, gradually introducing more economic stimulus measures when necessary. Although valuations are slightly above long-term averages, investors are expected to continue rotating among sectors with higher growth visibility. Additionally, active long-position funds in Asia (excluding Japan) turned overweight on China for the first time in August, marking the first time in four years. Although global and emerging market active funds remain underweight on China, the extent has gradually narrowed, indicating a sustained increase in global interest in investing in China. Regarding A-share trends, Zhang recently mentioned that there are rumors that the Chinese government may consider cooling down the overheated market, which may lead to a consolidation in the A-share market in the short term. The strong rebound in the artificial intelligence or technology sector has raised concerns about its high valuations, which may also lead to some profit-taking in the short term. Gold prices are overbought and may undergo a technical adjustment in the short term. The Asian (excluding Japan) stock market is expected to benefit from a weaker dollar and declining interest rates; however, South Korea and Taiwan may see consolidation after significant rebounds, while the ASEAN market is undervalued but may be constrained by political risks. Furthermore, she noted that the Asian credit market remains robust, with investment-grade bond spreads tightening, and demand for high-yield bonds remains strong. Additionally, gold remains an effective hedge against geopolitical risks, but due to recent gold prices being in the overbought zone, a technical adjustment or consolidation may occur in the short term before further upward breakthroughs. She mentioned that gold's share in global central bank reserves has reached 27%, surpassing U.S. Treasuries for the first time since 1996. The Hong Kong stock market is influenced by Federal Reserve policies</li>
</ol>

08340

ZIJING INTL FIN fell 10.26%; China Cinda's trading volume reached HKD 121 million; CITIC Financial Assets' trading volume reached HKD 35.34 million; Value Partners Group rose 1.55%, with a trading volume of HKD 6.39 million; Noah Holdings' market value reached HKD 6.022 billion

Hong Kong stock movement: ZIJING INTL FIN fell 10.26%