智通财经网·2025-08-14 01:46Group 1 - The Hang Seng Index opened up 0.6%, with the Hang Seng Tech Index rising 0.69%. Tencent Holdings increased by 2.39%, reaching a new high not seen in over four years. Overall, tech stocks showed strength, with Alibaba up 0.89% and Xiaomi Group up 1.31% [1] - CITIC Securities predicts that the performance period in August will be a crucial point for the continuation of the Hong Kong stock market trend, shifting from liquidity-driven to performance-driven and policy validation phases. Companies with better-than-expected earnings and upgraded guidance are expected to benefit [1] - Industrial Securities maintains a bullish outlook on the Hong Kong stock market, expecting a long-term bull market driven by increasing investor confidence, particularly from Chinese investors. The market is anticipated to trend upwards in the second half of the year, with potential new highs [1] Group 2 - Cathay Pacific Securities forecasts that the Hong Kong stock market will continue its bull market trend in the second half of the year, driven by incremental capital inflows and structural asset advantages. The total financing scale for the year is expected to approach 300 billion HKD, with reduced selling pressure following the peak of share unlocks in Q2 [2] - Huatai Securities notes that recent market corrections are due to adjustments in internal and external expectations, but the medium-term liquidity easing logic remains unchanged. The recommendation is to focus on sectors with improving sentiment and low valuations, particularly in technology [2] - Bank of China International states that the Hong Kong Monetary Authority's sale of USD for HKD has minimal impact on the stock market, as these funds are primarily risk-averse. The average daily trading volume in July 2025 is projected to reach 262.9 billion HKD, a year-on-year increase of 167% [3]