Group 1 - The Hong Kong stock market experienced a collective decline in major indices, with the Hang Seng Index falling by 1.57% to 26,128.20 points, the Hang Seng Tech Index down by 1.58% to 6,195.11 points, and the Hang Seng China Enterprises Index decreasing by 1.79% to 9,303.10 points during the week from September 22 to September 26 [5][3][40] - Among the sectors, only the materials sector saw an increase of 2.67%, while the remaining ten sectors declined, with notable drops in consumer staples, real estate, and healthcare, which fell by 3.80%, 3.45%, and 2.81% respectively [7][3][29] - The average daily trading volume on the Hong Kong Stock Exchange was HKD 302.73 billion, a decrease of HKD 44.39 billion from the previous week, while the average daily short-selling amount increased by HKD 3.62 billion to HKD 36.11 billion, representing 11.93% of the trading volume [15][3][29] Group 2 - As of September 26, the price-to-earnings (PE) and price-to-book (PB) ratios for the Hang Seng Index were 11.84 times and 1.21 times, respectively, both down by 1.7% from the previous week, placing them at the 85% and 86% historical percentiles since 2019 [20][22][29] - The risk premium for the Hang Seng Index was calculated at 4.25%, which is significantly below the three-year rolling average, indicating a low-risk appetite among investors [22][25][29] - The investment outlook suggests focusing on sectors with favorable policies and industry benefits, such as the AI industry chain, lithium batteries, and service consumption, as well as tourism-related sectors due to the upcoming Mid-Autumn Festival and National Day holidays [42][40][41]
关税冲击下,港股市场资金避险需求上升
Yin He Zheng Quan·2025-09-28 05:46