Group 1 - The core viewpoint indicates that despite a decrease in market risk appetite due to geopolitical conflicts, the Hong Kong stock market, particularly the technology sector, is expected to recover in the second half of the year, driven by domestic policy support and improving capital flows [1][2] - The profitability of the Hong Kong technology sector is projected to grow significantly by 2025, with a strong certainty in earnings growth, supported by favorable expectations from the AI industry [1] - The current valuation of the Hang Seng Index is in a balanced range, suggesting potential for improvement in return on equity (ROE) for the technology sector, which could lead to an increase in valuations [1] Group 2 - The outlook for the Hong Kong stock market remains positive, particularly for the technology sector, as the narrative of asset revaluation in China continues to unfold, despite external factors potentially disrupting risk appetite and earnings expectations [2] - The capital flow situation is improving, with foreign capital outflows narrowing and domestic institutional investments increasing, indicating a shift in the investment landscape towards Hong Kong stocks [1][2] - The net inflow of southbound funds, primarily driven by retail investors in 2024, is expected to see a shift towards institutional investors in 2025, which may further enhance capital inflows into the Hong Kong market [1]
避险情绪升高 港股科技资产回调 港股科技ETF跌超2%
Zhong Zheng Wang·2025-06-13 07:38