On the first trading day of December, the three major Hong Kong stock indices opened higher: the Hang Seng Index rose 0.34%, the Hang Seng China Enterprises Index rose 0.31%, and the Hang Seng Tech Index rose 0.21%. Most large-cap tech stocks advanced. LME copper prices hit a record high, boosting copper stocks collectively. Aluminum stocks, gold stocks, and other non-ferrous metal stocks also rose. Heavy infrastructure stocks, mainland property stocks, and automobile stocks were active. Conversely, gas stocks, home appliance stocks, and building materials/cement stocks declined. The Hong Kong consumer sector continued to climb in early trading, with the CSI Hong Kong Stock Connect Consumer Theme Index currently up 1.54%. The Hong Kong Consumer ETF (513230) continued to strengthen, rising over 1%.

On the news front, according to China Economic Net, recently six departments including the Ministry of Industry and Information Technology jointly issued the "Implementation Plan on Enhancing the Supply-Demand Adaptability of Consumer Goods and Further Promoting Consumption" (hereinafter referred to as the "Plan"). The Plan proposes main goals in two phases: By 2027, the supply structure of consumer goods will be significantly optimized, forming 3 trillion-yuan level consumption sectors and 10 hundred-billion-yuan level consumption hotspots, and creating a batch of high-quality consumer goods rich in cultural connotation and renowned globally. By 2030, a high-quality development pattern characterized by positive interaction and mutual promotion between supply and consumption will be basically formed, and the contribution rate of consumption to economic growth will steadily increase.

Zhongyou Securities stated that it remains optimistic about consumer investment opportunities and看好 the long-term opportunities in consumption. It recommends focusing on two types of opportunities that offer both offensive and defensive potential: 1) Offensive New Consumption Opportunities: Tracks such as trendy toys, gold jewelry, and new tea beverages are recommended for active attention. These align with current trends like consumption personalization and self-indulgence, and benefit from the growing atmosphere of cultural exports, potentially benefiting companies in these sectors. 2) Defensive Pro-Cyclical Tracks: If various policies to stimulate consumption continue to be introduced and the economy gradually recovers, pro-cyclical companies such as those in baijiu, catering, alcohol, and tourism are expected to see positive market performance, and active attention is recommended.

The Hong Kong Consumer ETF (513230) tracks the CSI Hong Kong Stock Connect Consumer Theme Index, bundling leading internet e-commerce companies and new consumption concepts in one click. Its constituent stocks nearly cover all areas of Hong Kong's consumer sector, including new consumption leaders like Pop Mart, Lao Pu Gold, and Miniso, as well as internet e-commerce giants like Tencent, Kuaishou, Alibaba, and Xiaomi, highlighting its prominent tech + consumption attributes.