稳中求进，顺势而为

Economic Policy and Market Sentiment - The Two Sessions continue the "seeking progress while maintaining stability" tone, with a focus on domestic demand to counter external uncertainties, positively impacting market sentiment[2] - The general public budget deficit is set at 5.66 trillion yuan, corresponding to a narrow deficit ratio of 4%, both historical highs[2] Market Trends and Liquidity - U.S. non-farm payrolls increased by 151,000 in February, slightly below the expected 160,000, with an unemployment rate of 4.1%, slightly above the previous value of 4.0%[3] - Passive foreign capital inflow into Hong Kong stocks accelerated, with net inflows of 1.09 billion USD last week, while active foreign capital saw a net outflow of 250 million USD[4] Investment Strategy - The short-term outlook for Hong Kong stocks is not pessimistic, with a long-term positive view on the revaluation of Chinese assets, supported by stable domestic economic indicators and strong performance from leading tech companies[5] - Recommended investment strategy includes a "barbell" approach focusing on technology revaluation (internet/hardware), new consumption, innovative pharmaceuticals, and high-dividend communication sectors[5] Risk Factors - Risks include geopolitical uncertainties, U.S. prioritization of investment policies, and overcrowding in the technology sector[6]