Hong Kong stocks continued to rise, Meituan rose more than 10%, Alibaba Health Information Technology, Tencent, Kuaishou Technology and other stocks rose, Hong Kong Stock Connect 50ETF (159712) rose more than 3%, turnover exceeded 5 million yuan. Founder Securities said that in 2021, Hong Kong stocks performed poorly due to the strengthening of industrial policies in the mainland, default by some real estate companies, the COVID-19 epidemic and upstream inflation, increasing expectations of tightening monetary policy in the United States, and less-than-expected positive progress in Sino-US relations, among which the consulting technology industry led the decline due to antitrust and other reasons.

Looking forward to 2022, the narrowing of the mainland PPI-CPI scissors gap is conducive to the profit repair of enterprises in the middle and lower reaches; the high AH premium highlights the performance-to-price ratio of Hong Kong stocks; and the characteristics of high dividends are defensive to a certain extent. In addition, some of the negative effects of Hong Kong stocks in 2021 have gradually landed or dissipated, and Hong Kong stocks have been fully consolidated. There is a high probability that there will be a rebound in 2022, which will be from "do not use the hidden dragon" to the stage of "seeing the dragon in the field". The structure of the trend will also be similar to that of A-shares. The first half of the year is better than the second half of the year, and the obvious adjustment time for Hong Kong stocks may occur in March-April 2022 and the third quarter of 2022. But the extent of the rebound in Hong Kong stocks may also be limited, with a structural bull market rather than a trend bull market. It is recommended to pay attention to the investment value of Hong Kong stocks.