港股市场企稳了吗?

Key Points - The report highlights that China's GDP for Q1 2025 reached 318,758 billion yuan, with a year-on-year growth of 5.4% and a quarter-on-quarter increase of 1.2%. The industrial sector grew by 6.3%, significantly contributing to GDP growth, while the information transmission, software, and IT services sectors saw a remarkable growth of 10.3% [2][4][12] - The report indicates that the real estate market is showing signs of recovery, with new residential sales area declining by only 3.0% year-on-year in the first three months of 2025, a smaller drop compared to previous months. The sales value also decreased by 2.1% year-on-year, reflecting a narrowing decline [5][10] - The report notes that the U.S. retail sales in March increased by 1.4%, marking the largest growth since January 2023, while initial jobless claims were at 215,000, indicating a tight labor market. However, concerns about future economic growth persist due to rising costs and policy uncertainties [15][16] - The Hong Kong stock market showed mixed performance, with the Hang Seng Index rising by 2.30% during the week, while the technology index fell by 0.27%. The financial, materials, and comprehensive sectors led the gains, with increases of 4.39%, 4.34%, and 4.07% respectively [16][19] - The report suggests that the current valuation of the Hong Kong stock market is at a historically low level, with the Hang Seng Index's PE and PB ratios at 9.6 times and 1.02 times, respectively. This indicates potential investment value, particularly in sectors with lower trade dependency and higher dividend yields, such as finance, energy, and utilities [29][38][49]