Last week's stalled negotiations led to a natural downward adjustment in Hong Kong stocks. However, the absence of aggressive action from the United States resulted in a relatively mild correction, with the market fluctuating around the 26,000-point level. The recent failure of the second round of US-Iran talks, marked by Iranian Foreign Minister Araghchi's departure from Pakistan without meeting US officials, necessitates continued vigilance for potential new US moves. This week marks the final week before the Labor Day holiday, typically associated with pre-holiday market effects. Furthermore, the first-quarter earnings season concludes this week, with the impact of corporate results continuing to emerge; caution is advised for stocks with potential negative surprises. A pivotal turning point is anticipated on the last day of the month, coinciding with major central bank decisions and significant corporate earnings reports. Domestically, an important meeting is also expected to be held, potentially setting the direction for May's market trends.
The official launch of DeepSeek V4 last Friday, fully supported by the Ascend Super Node series and deployed on the National Supercomputing Internet, represents a significant breakthrough in reducing reliance on the Nvidia ecosystem. Optimized domestic chips can achieve comparable performance, further strengthening the domestic substitution theme. In the computing power sector, weekend news highlighted that the "unicorn" Superfusion has completed its guidance for an A-share IPO. In the aerospace sector, China successfully launched a satellite internet technology test satellite, primarily for validating technologies like direct broadband satellite connectivity for mobile phones. Related individual stocks warrant attention. The robotics sector received a new order boost with the State Grid's 2026 embodied intelligence development plan, involving the procurement of 8,500 robots with an investment of 6.8 billion yuan. Quadruped inspection robots are the largest category, with 5,000 units planned for procurement. Stocks within this industrial chain are expected to see increased activity.
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