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Ping An Securities: HK Stocks Still Display Valuation Advantage, Focus on 3 Key Themes
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Ping An Securities released its strategic monthly report, stating that Hong Kong stocks leapfrogged in February, fueled by factors such as the revaluation of Chinese tech assets spurred by DeepSeek, the Chinese central government’s symposium with private enterprises, and BABA-W (09988.HK) reporting earnings beat. On the capital front, inflows from southbound funds further expanded in February, while some foreign capital took profits after entering the market. Regarding southbound funds, as of February 28, net buying reached a scale of HKD152.8 billion, up from January’s HKD125.6 billion. By sector, the inflows primarily went to non-essential consumer discretionary, financials, and information technology industries. In terms of structural allocation, the report recommended focusing on three main themes: 1) the AI industry catalyzing directions in AI computing power and applications, particularly leading internet companies showing improved profit; 2) potential catch-up opportunities in value sectors amid speculation around the Two Sessions; and 3) assets which remain attractive for medium- to long-term allocation due to ongoing policy disruptions from Trump and the strong domestic policy framework. AAStocks Financial News |
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