港股，突发！最牛暴涨300%！

Core Viewpoint - The Hong Kong stock market is showing strong performance, with the Hang Seng Index and Hang Seng Tech Index both rising over 20% since April, indicating a technical bull market driven by technology, pharmaceuticals, and consumer sectors [1][3]. Market Performance - The Hang Seng Index surpassed 24,000 points, and the Hang Seng Tech Index increased by 2.78% [1]. - There is a notable trend of funds returning to the Hong Kong market, with the tech and AI sectors becoming the main battleground for investments [1][3]. - A significant number of warrants saw substantial gains, with 17 warrants doubling in value and some reaching a maximum increase of 300% [3]. Liquidity Conditions - The liquidity in the Hong Kong market remains ample, with the offshore RMB Hong Kong Interbank Offered Rate (CNH Hibor) declining across all major tenors, including a drop of 15 basis points to 1.34985% for overnight Hibor, the lowest since May 28 [1][4]. - The Hong Kong Monetary Authority's liquidity measures have led to a significant reduction in Hibor rates, improving market liquidity and making dividend yields more attractive compared to market rates [5]. Future Outlook - Analysts predict that the Hong Kong stock market will continue to attract investment due to policy support and the AI boom, with a favorable valuation compared to U.S. tech stocks [7]. - The current valuation of the Hang Seng Index at around 10 times earnings presents a clear advantage over U.S. tech indices, which have significantly higher price-to-earnings ratios [7]. - The market's risk appetite may improve in the short term due to positive signals from U.S.-China relations, although long-term uncertainties remain [8].