上市潮来了！大行预测：三大驱动力推动

Market Overview - The Hong Kong stock market showed a collective rebound with the Hang Seng Index rising by 1.53% to close at 23,512.49 points, the Tech Index up by 1.08% to 5,189.49 points, and the National Enterprises Index increasing by 1.92% to 8,519.86 points [2] - The financial sector exhibited strong performance, with notable gains in major banks and securities firms [3][4] Financial Sector Performance - Major banks such as Industrial and Commercial Bank of China rose by 3.02%, China Construction Bank by 3.47%, Agricultural Bank of China by 3.41%, and Bank of China by 2.67% [3][4] - Securities firms also performed well, with Huatai Securities increasing by 3.70% and Guotai Junan by 2.94% [3][4] - Insurance stocks saw positive movement, with Ping An Insurance up by 1.86% and China Life Insurance by 1.39% [3][4] IPO Market Dynamics - According to CICC, nearly 50 A-share companies are planning to list in Hong Kong, with 23 having submitted materials or received approval [7] - Three main drivers for the IPO surge include comprehensive policy support, improved market attractiveness, and companies' internationalization strategies [7] - CICC estimates that the liquidity demand for these upcoming listings will be approximately HKD 150 billion to HKD 180 billion, equivalent to about 0.7 days of the average daily trading volume on the Hong Kong main board since the beginning of the year [7] Sector Highlights - The automotive sector led the market gains, with companies like Li Auto and BYD seeing increases of 5.82% and 3.94%, respectively, driven by positive sales data [6] - The pharmaceutical sector also performed well, with companies such as Green Leaf Pharmaceutical and Four Rings Pharmaceutical rising by 8.98% and 8.51%, respectively, due to recent approvals for innovative drugs [6][7] Investment Trends - There is a notable increase in institutional investment in bank stocks, driven by their stable asset quality and high dividend returns [5] - The expansion of passive funds and the high weighting of banks in major indices have contributed to the positive sentiment in the financial sector [5]