华安基金：港股岁末行情或以红利投资为主

Core Viewpoint - The Hong Kong stock market is expected to experience a strong dividend effect at the end of the year, driven by institutional funds seeking relative returns during a key asset rebalancing period [1] Group 1: Market Trends - Institutional investors may sell high-valuation, volatile growth stocks to lock in annual returns, shifting focus to high-dividend, high-margin safety stocks in the Hong Kong market [1] - Historical patterns show that strong sectors, such as blue-chip stocks in 2016-2017, the new energy vehicle boom in 2021, and the TMT sector's rapid rise post-policy easing in October 2022, have all seen a shift towards Hong Kong dividend stocks during year-end to early next year [1]