每日投资策略：获利回吐，港股险守两万四-20250613

Group 1 - The report highlights that the Hong Kong stock market is facing profit-taking and external uncertainties, with the Hang Seng Index closing at 24,035, down 331 points or 1.4% [3] - The report indicates that the recent U.S. trade policies and military actions in the Middle East have contributed to market volatility, impacting both U.S. and Hong Kong stock markets [3][9] - The report notes that the trading volume in the Hong Kong market was 244.12 billion [3] Group 2 - The report discusses the new policy allowing companies listed in Hong Kong from the Guangdong-Hong Kong-Macao Greater Bay Area to return to the Shenzhen Stock Exchange, potentially benefiting around 220 companies with a total market value of approximately 16 trillion [7] - It emphasizes that the "H+A" listing model could provide a new channel for companies to access domestic capital markets, enhancing their growth potential [7][8] - The report identifies that companies with low valuations and high dividends, as well as those in the technology sector, are expected to attract long-term investment under the new listing framework [8] Group 3 - The report mentions that New World Development's bondholders are increasingly frustrated with the company's lack of financial disclosure during critical loan negotiations, raising concerns about transparency [12] - It highlights that New World is prioritizing communication with banks over bondholders, which may lead to a significant drop in recovery rates for unsecured bond investors [13] - The report notes that New City Development is planning to issue dollar-denominated senior notes to fund a cash offer for its outstanding notes, marking a significant move for a private real estate developer in China [14]