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The latest research report of CITIC Securities pointed outfreepokertournaments, starting from late Aprilfreepokertournaments, the Hong Kong stock market showed a strong rebound and became the global stock market leader. The research report pointed out that the upward momentum of Hong Kong stocks is mainly due to the turning around in investors 'pessimistic expectations for the market and the dual promotion of valuation repair.
According to analysis, compared with late January, the liquidity of Hong Kong stocks has improved significantly, and the trading environment has been significantly improved. At the same time, the price/performance ratio between valuation and performance is still considerable.
CITIC Securities further explained that the four key factors driving the rebound of Hong Kong stocks include: the stability of the external environment, the focus of domestic policies, the expectation of dividend tax relief for Hong Kong Stock Connect, and the market's revaluation of the value of growth stocks.
Compared with the three rebounds in 2022 after reversing pessimistic expectations, CITIC Securities believes that the current valuation repair of Hong Kong stocks has shown greater resilience and sustainability.
In terms of investment strategy, CITIC Securities advises investors to focus on three main investment areas: first, the large financial sector, especially the insurance and real estate industry chains, which benefit from the continued launch of policies and the recovery of market sentiment; second, the consumer and technology industries, which are expected to continue valuation repairs; finally, the consumer electronics industry will benefit from the upgrading of domestic consumer goods, the replenishment of U.S. inventories, and the improvement of industry prosperity.
