港股策略周报

Market Performance - The Hang Seng Index rose by 0.53% during the week of December 9-13, 2024[4] - The Hang Seng China Enterprises Index increased by 0.70%[4] - The Hang Seng Technology Index saw a growth of 0.33%[4] - The Hang Seng Small Cap Index experienced the highest increase at 1.45%[4] Economic Indicators - The U.S. CPI rose by 2.7% year-on-year in November, aligning with market expectations[4] - The core CPI also increased by 3.3% year-on-year, matching previous forecasts[4] - The current PE ratio of the Hang Seng Index is 9.34, positioned at the 30th percentile since January 1, 2007[30] - The current PB ratio of the Hang Seng Index is 1.01, situated at the 24th percentile since January 1, 2007[30] Capital Flows - Net inflow of southbound funds reached HKD 211.16 billion, an increase of HKD 28.33 billion from the previous week[25] - The top five net purchases included Alibaba (HKD 49.70 billion), Tracker Fund (HKD 27.72 billion), and China Mobile (HKD 14.53 billion)[15] - The top five net sales were Tencent Holdings (HKD 19.87 billion) and Meituan (HKD 13.58 billion)[25] Policy Outlook - The central economic work conference emphasized a more proactive macro policy and fiscal measures to boost consumption[4] - The Ministry of Commerce highlighted the implementation of a consumption upgrade policy to stimulate demand[27]