BABA(09988) 智通财经网·2025-03-28 01:44Group 1 - The Hang Seng Index opened up 0.4%, with the Hang Seng Tech Index rising 0.29%. Most tech stocks increased, with Alibaba (09988) up approximately 1.5%, while SMIC (00981) fell over 2% after its earnings report [1] - According to a report from Founder Securities, the current rally in the Hong Kong stock market remains intact, with overall valuations near historical averages. The attractiveness of Chinese assets is expected to continue to rise, supported by the recovery of the Chinese economy, improving corporate earnings, and a favorable liquidity environment [2] - CICC's latest report indicates that the long-term pricing of Hong Kong stocks depends on earnings prospects. If earnings materialize, related stocks may experience a situation where prices rise while valuations decrease. In the short term, some stocks that have risen significantly may face volatility [2] Group 2 - According to Galaxy Securities, the three main lines of high allocation value in the Hong Kong market in the medium to long term are: first, the technology sector with promising earnings; second, the consumer sector with strong policy support; and third, high-dividend sectors with stable investment returns [2] - Researcher Bi Mengnian from Grayscale Wealth pointed out that while overseas interest rates are gradually declining, the pressure on the Hong Kong stock market will ease. In the long term, a moderately loose monetary policy and more proactive fiscal policies will continue to support the economic fundamentals, indicating significant investment value in the Hong Kong market [3] - Singapore Bank's China equity strategist, Huo Huimin, noted that the government work report emphasizes promoting consumption and supporting technological innovation, which is favorable for the stock market. The target price for the Hang Seng Index is set at 25,900 points [3] Group 3 - Industrial Securities reported that recent indicators such as turnover rate and short-selling volume in the Hang Seng Index suggest that market sentiment is at a short-term peak. The high internationalization of the Hong Kong market makes it susceptible to influences from Western markets and geopolitical factors, leading to expected short-term fluctuations [4] - The current bull market in China has found its main driving force in AI technology breakthroughs and advancements in robotics. The recent adjustments due to overseas risks may benefit the mid-term sustainability of the bull market [4]