港股板块轮动加速，行情是否延续？

Group 1 - The Hong Kong stock market experienced a decline, with the Hang Seng Index falling by 1.52% to 23916.06 points, losing the 24000-point mark [4][16] - Among the sectors, healthcare, materials, and industrial sectors saw the highest gains, with increases of 5.49%, 3.24%, and 2.72% respectively, while information technology, consumer discretionary, and financial sectors faced declines [7][27] - The average daily trading volume on the Hong Kong Stock Exchange was HKD 2455.12 billion, a decrease of HKD 33.71 billion from the previous week [16][27] Group 2 - As of July 4, the PE and PB ratios for the Hang Seng Index were 10.65 times and 1.12 times, respectively, both down by 1.28% from the previous week, placing them at the 73% and 75% percentile levels since 2019 [18][24] - The risk premium for the Hang Seng Index was calculated at 5.04%, which is -1.84 standard deviations from the 3-year rolling mean, indicating a low-risk appetite in the market [21][24] - The report suggests that the technology sector remains a high investment opportunity due to strong policy support and growth potential, while the consumer sector is expected to improve performance driven by domestic consumption policies [40][41] Group 3 - The report highlights that the A-share market performed better than the Hong Kong market, with the AH share premium index rising to 130.88, at the 46% percentile level since 2014 [27][40] - The healthcare sector is expected to benefit from new policies supporting innovative drug development, which may enhance the performance of related stocks [11][40] - The report emphasizes the importance of high-dividend stocks in providing stable returns amid global uncertainties, particularly in the energy and financial sectors [40][41]