Changes in Hong Kong stocks | TechNet stocks are generally higher, and the US is no longer continuing the state of emergency involving Hong Kong, and the improvement in the Hong Kong stock technology win rate opens up room for growth

The Zhitong Finance App learned that TechNet stocks were generally higher this morning, driving the Hang Seng Technology Index up more than 3%. As of press release, Alibaba-W (09988) rose 5.24% to HK$118.5; Meituan-W (03690) rose 4.48% to HK$87.4; Kuaishou-W (01024) rose 4.07% to HK$45.04; and Tencent (00700) rose 3.73% to HK$478.8.

According to the news, the White House confirmed that the provisions of the state of emergency established in US Presidential Executive Order No. 13936 for Hong Kong will not continue after they expire on July 14, and this unilateral restriction mechanism, which has continued for several years, has officially come to an end. This is also the first time in recent years that America's restrictive policy towards Hong Kong has shown signs of gradual loosening. Earlier, Pan Gongsheng, Governor of the People's Bank of China, said that the country's foreign exchange reserves will increase asset allocation in Hong Kong and increase the annual net investment amount of “Southbound Connect” from 500 billion to 800 billion yuan. It is worth mentioning that the “big short” Michael Burry recently said that now is a “good time” to buy Hong Kong stocks on dips.

Cathay Pacific Haitong Securities pointed out that the core logic driving the Hong Kong stock technology market is shifting from a “high odds game” to “improving win rate”, opening up room for subsequent upside. First, the inflection point expected by fundamentals is getting closer. The profit expectations of the Internet, the technology-heavy sector of Hong Kong stocks, are sending reversal signals from both the new and traditional sides. Second, financial reimbursements are gradually forming joint efforts. The overall pressure on outflows has abated. At this time, capital inflows are more likely to form a synergy. In the past two weeks, domestic and foreign capital refunds have all been concentrated in the Hong Kong stock technology sector. Third, along with the seasonal decline in the Hong Kong stock dividend sector's winning rate in the third quarter, the Hong Kong stock dividends-technology seesaw effect, the Hong Kong stock technology sector's win rate is expected to strengthen.