HK Stock Market Move | Most consumer stocks rose; nationwide service consumption was robust during the National Day holiday; consumption allocation momentum is expected to rise amid low valuations.

Major consumer stocks generally rose today. As of press time, YUM CHINA (09987) gained 4.94% to HK$339.8; GIANT BIOGENE (02367) rose 4.73% to HK$23.92; HAIDILAO (06862) climbed 3.09% to HK$9.52; CHINA FEIHE (06186) rose 3% to HK$2.745; TRIP.COM-S (09961) gained 2.5% to HK$303.4; WL DELICIOUS (09985) rose 2.07% to HK$6.66. On the news front, data from the State Taxation Administration's value-added tax invoices showed that nationwide service consumption was robust during the National Day holiday, with average daily sales revenue in related industries rising 19.5% year-on-year. Among them, tourism sightseeing and entertainment services grew 23.6%, catering services rose 9%, household appliances and audio-visual equipment increased 40.1%, and communication equipment surged 119.8%. CITIC SEC previously noted that against the backdrop of low positioning, low expectations, and low valuations, the momentum for consumer allocation is expected to continue rising. In the short term, focus can be placed on agriculture (livestock farming) benefiting from supply-side reversal, the dairy chain where earnings are stabilizing and reaching an inflection point, and high-quality industry leaders with attractive shareholder returns. At the same time, attention should be paid to policy developments, gradually increasing allocation to directions with clear long-term structural opportunities amid market volatility.