智通财经网·2026-01-05 01:34Group 1 - The Hang Seng Index opened up 0.09%, and the Hang Seng Tech Index rose by 0.33%, with notable activity in tech stocks such as Kuaishou increasing over 5% and Alibaba rising over 1% [1] - The non-ferrous metals sector showed strength, with China Aluminum rising over 1%, and Baidu Group increasing nearly 1% as the company plans to spin off its Kunlun Chip business for an IPO on the Hong Kong Stock Exchange [1] Group 2 - Everbright Securities believes that the overall profitability of the Hong Kong stock market is relatively strong, with scarce assets in internet, new consumption, and innovative pharmaceuticals. Despite several months of continuous increases, the overall valuation remains low, indicating high long-term cost-effectiveness for allocation [1] - CITIC Securities projects that by 2026, the Hong Kong stock market may experience a second round of valuation recovery and further performance revival, benefiting from internal "14th Five-Year Plan" catalysts and external fiscal and monetary easing from major economies [1] - Guolian Minsheng Securities anticipates that the first half of 2026 will be favorable for the Hong Kong stock market due to a weak domestic economic recovery, ongoing Federal Reserve easing, and continued industrial catalysts. There is a projected incremental space of HKD 630 billion to HKD 1,050 billion for southbound funds, with passive index funds and insurance capital having relatively larger space [1]