名家看市：张忆东战略性做多港股，刘煜辉认为港股下半年大概率迎来牛市

Group 1 - The Hong Kong stock market is experiencing a bullish atmosphere, attracting global attention and positive forecasts from professionals and institutions for the second half of the year [1][4] - Zhang Yidong from Industrial Securities advocates for a strategic long position in Hong Kong stocks, citing a new era driven by the restructuring of international order and the revaluation of Chinese assets [2][5] - The market's underlying logic is shifting from being foreign capital-dominated to becoming a crucial international financial center for China, supported by favorable policies and resource allocation [2][5] Group 2 - The recovery of IPOs driven by technology and new consumption is expected to provide fundamental support for the revaluation of the Hong Kong stock market [2] - The market's valuation structure is increasingly dominated by new consumption, technology, and biomedicine, which now account for over half of the market's total market capitalization [2] - Zhang Yidong suggests focusing on growth assets such as military, technology, and new consumption as offensive strategies, while dividend assets like utilities and high-dividend stocks serve as defensive strategies [3] Group 3 - Liu Yuhui emphasizes that the Hong Kong Stock Exchange is the most popular financing market globally, predicting a bullish trend for the Hang Seng Index and Hang Seng Tech Index in the second half of the year [4] - There is a strategic push to move core Chinese assets to the offshore RMB market, potentially paving the way for the upcoming offshore RMB asset market [4] - Citic Securities also forecasts a potential index bull market for both Hong Kong and A-shares starting in Q4 2025, with a significant shift towards core assets [5][6]