372亿南向资金创纪录净买入，抄底港股“跟不跟”？

Core Viewpoint - The article discusses the recent fluctuations in the Hong Kong stock market, particularly in light of geopolitical tensions in the Middle East, and the implications for future market performance and investment strategies [3][4]. Market Performance - On March 9, the Hong Kong stock market opened lower but recovered, with southbound funds recording a net purchase of 37.213 billion HKD, setting a historical record, surpassing the previous high of 35.9 billion HKD on August 15, 2025 [3]. - The Hang Seng Index closed at 25,408.46 points, down 348.83 points or 1.35%, with a trading volume of 392.3 billion HKD, while the Hang Seng Tech Index closed at 4,941.73 points, down 0.12% [3]. Geopolitical Impact - The ongoing conflict involving Iran has significantly influenced market sentiment, with analysts divided on whether the Hong Kong market has reached a bottom [4][5]. - The rise in oil prices due to geopolitical tensions is expected to persist, with concerns over supply disruptions, particularly if the Strait of Hormuz remains closed [4][5]. Investment Sentiment - Analysts suggest that the recent net inflow of southbound funds indicates a potential market bottom, with current valuations of the Hong Kong market appearing reasonable after a prolonged adjustment period [5][6]. - The focus of investors is expected to shift towards annual and quarterly reports, with the upcoming earnings season being crucial for market recovery [6][8]. Future Outlook - The article highlights that despite current geopolitical uncertainties, the long-term outlook for non-U.S. assets remains positive, with expectations of a continued bull market [8]. - Companies with earnings that exceed expectations are likely to attract more investor interest, particularly in the context of the Hong Kong market's relative valuation advantages [8].