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招商策略港股9月策略月报:流动性驱动港股新一轮上涨,聚焦三进攻+两底仓
Ge Long Hui·2025-09-15 14:11

Core Viewpoint - The Hong Kong stock market is expected to experience a new round of upward movement driven primarily by liquidity, with both internal and external liquidity being abundant [1] Group 1: Market Performance - The earnings growth rate of Hong Kong-listed companies is at a historically low level, indicating a significant divergence between new and old economic structures [1] - A structural market driven by technology is supported by solid profit growth [1] Group 2: Investment Strategy - The recommended investment focus includes three offensive sectors: technology, non-ferrous metals, and non-bank financials, along with two defensive sectors: turnaround situations and dividend stocks [1]