According to the securities research report issued by Guotai Junan (601211) Securities, the Hong Kong stock market has changed, and the decline in uncertainty has become an important basis for the market rebound, making Hong Kong stock assets attract the attention of investors again. After three years of adjustment, the valuation level of the Hang Seng Technology Index is very low, and the market has fully priced all kinds of uncertainties and risk factors. It is expected that by 2024, a number of ministries will issue policies conducive to stable expectations, stable growth and stable employment, and the regulatory orientation of the platform economy is also actively changing, which have a positive impact on stock valuations.

With the decrease of uncertainty, the return of high-quality assets in Hong Kong stocks is expected to increase, and the allocation value increases accordingly. Hong Kong Internet companies with lower valuations, lighter assets and faster earnings growth are an important source of income for both domestic and overseas investors. The SFC's co-operation with Hong Kong and the share buybacks and dividends of representative Hong Kong companies have also improved the liquidity of Hong Kong stocks. Compared with the stock markets of the United States, Europe, Japan and India, Hong Kong stocks have lower valuations and higher margin of safety.FruitmaniaCompared with the dividend assets of A shares, the expected return of Hong Kong stocks is higher. The volatility of peripheral currencies has increased, making Hong Kong stocks a safe haven for global investors. In March and April 2024, China's stock market attracted $9.6 billion and $1.7 billion, according to the Institute of International Finance. The global investment market is shifting from US stocks to emerging markets, with net foreign capital inflows for the fifth month in a row.

The Guotai Junan strategy team suggests that the allocation of Hong Kong stocks can be grasped from the following three directions: Hong Kong stock Internet leaders, Hong Kong stock advantage technology and Hong Kong stock high dividend. The policy adjustment of Hong Kong stock Internet enterprises has been sufficient, and we can lay out high-quality Internet leading companies from a longer-term perspective. Among Hong Kong stocks, the technology manufacturing industry is the next investment opportunity for China, which can focus on Hong Kong semiconductors, Hong Kong pharmaceuticals and Hong Kong automobiles. The long-term investment value of high-dividend stocks is still outstanding. It is recommended to pay attention to high-dividend industries such as Hong Kong stock communication operators, energy and public utilities. However, the risk factors that need to be noted include the slower-than-expected domestic economic recovery, recession trading caused by the US economic slowdown, rising international geopolitical frictions and the Fed's less-than-expected monetary policy easing.

Guotai Junan plate name pharmaceutical business keywords uncertainty, Hong Kong stock quality assets, Hong Kong dollar stable bearish (bullish) the decline of uncertainty is an important basis for the rebound of the Hong Kong stock market, the visibility of the expected return on high-quality assets has improved, and the stability and low valuation of the Hong Kong dollar have brought Hong Kong stock assets back to investment vision. Continue to be optimistic about Hong Kong stock quality companies, in addition to the Internet, pay attention to Hong Kong stock hard technology and medicine. [monarch overseas Strategy] Hong Kong stock market volatility rises, opportunities spread and Hexun's optional stock writer risk hint: the above content is only the views of the author or guest, does not represent any position of Hexun, and does not constitute any investment advice related to Hexun. Before making any investment decision, investors should consider the risk factors related to investment products according to their own circumstances and consult professional investment advisers if necessary. Hexun tries its best but cannot confirm the authenticity, accuracy and originality of the above content, and Hexun does not make any guarantee or commitment.