港股市场速览：风格与行业普涨，医药与互联网领先

Investment Rating - The report maintains an "Outperform" rating for the Hong Kong stock market [4] Core Insights - The Hong Kong stock market has shown strong performance with the Hang Seng Index rising by 2.8% and the Hang Seng Tech Index increasing by 5.5% [1] - The healthcare and internet sectors are leading the market, with significant gains observed in the pharmaceutical sector (+11.9%) and the internet sector (+7.4%) [1][16] - Overall, 27 industries within the Hong Kong Stock Connect experienced an increase, while only 2 industries saw a decline [1] Market Performance - The Hang Seng Index closed at 24,826, reflecting a 2.8% increase for the week and a 26.8% increase year-to-date [12] - The Hang Seng Tech Index also performed well, increasing by 5.5% for the week and 56.6% year-to-date [12] - The small-cap stocks outperformed large-cap stocks, with the Hang Seng Small Cap Index rising by 3.6% compared to 3.3% for large-cap stocks [1] Fund Flow Analysis - The average daily fund inflow was +14.1 million HKD, with the pharmaceutical sector benefiting the most, attracting +4.8 million HKD per day [2] - A total of 24 industries saw fund inflows, while 6 industries experienced outflows, with the pharmaceutical, computer, and retail sectors leading in inflows [2] Earnings Forecast - The overall EPS forecast for the Hong Kong Stock Connect was revised upward by 0.2%, with the steel industry showing a notable increase of +12.6% [3] - 20 industries had their EPS forecasts revised upward, while 7 industries saw downward revisions [3] Sector Performance - The pharmaceutical sector led the industry performance with a weekly increase of 11.9%, followed by the comprehensive sector (+8.0%) and the computer sector (+7.9%) [16] - The real estate and construction materials sectors were the weakest performers, with declines of -0.2% and -0.8%, respectively [1][16]