The first trading day of October in the Hong Kong stock market continues the trend of sharp rise.

At the close,$Hang Seng Index (800000.HK)$Rising more than 6%, firmly holding above the 22,000 level; $Hang Seng TECH Index (800700.HK)$ Rising more than 8%, it surged over 10% at one point during the day to hit a new high since February 2022. It is noteworthy that the Hong Kong stock market today remains extremely active even in the absence of northbound funds, with a total daily turnover of 434 billion Hong Kong dollars. The current upward trend of Hong Kong stocks is unprecedented, with the Hang Seng Index up over 24% since September, the Tech Index up more than 44%, and the Mainland Enterprise Index up more than 27%.

Interestingly, in terms of year-to-date gains, the Hong Kong stock market has outperformed the three major US indices.

Looking at today's market, the real estate sector as the leading force in the market collectively surged under favorable policies, $AGILE GROUP (03383.HK)$Please use your Futubull account to access the feature.$SHIMAO GROUP (00813.HK)$ The stock staged a doubling of its price in a single day, with an increase of over four times in the past ten days; $CIFI HOLD GP (00884.HK)$and$R&F PROPERTIES (02777.HK)$And $SUNAC (01918.HK)$One-day surge of over 75%. Dongguan Securities believes that the unprecedented policy strength, coupled with the continuous optimization of policies at the local level after the third plenary session, will further actively promote implementation. I believe it will accelerate the bottoming out and recovery of the real estate industry's fundamentals.

Continuous policy boosts, as the leader of the bull market, brokerage stocks are also firing on all cylinders. $SWHYHK (00218.HK)$ Soared more than double in a single day, with a cumulative increase of over 7 times in the past ten days; $CMSC (06099.HK)$ $DFZQ (03958.HK)$ Nvidia. $CSC (06066.HK)$ All performed well, achieving double-digit gains easily in a single day.

In the current market environment, brokerage stocks are regarded as the core beneficiaries of policy shifts, expected to demonstrate stronger market sensitivity under the dual catalysts of positive policy shifts and improved liquidity. Tianfeng Securities and Sinolink Securities and other institutions are optimistic about the outlook for brokerage stocks.

A series of signs currently indicate that overseas hedge funds are pouring into the Chinese stock market at a record pace. Large overseas investors are gradually moving away from a wait-and-see attitude and beginning to bet on China again. Some institutional analysts point out that despite the Hong Kong Stock Connect and A-share markets being closed today, Hong Kong stocks surged across the board with steadily increasing trading volume, which perfectly reflects the characteristic of foreign capital and local funds in Hong Kong entering the market successively due to missing out on fear. Everyone does not want to miss this feast.

Major banks are also bullish on stocks in various industries. The Galaxy Securities strategy team points out that currently, the fundamentals of Hong Kong stocks are relatively strong, with profits showing signs of recovery. Combined with the 924 policy package and the boost in market expectations from the September high-level meeting, as policies are gradually implemented, Hong Kong stocks are expected to be lifted. The probability of an upward trend in the fourth quarter is high, and further observation is needed on the recovery rate of the domestic economy and the intensification of subsequent fiscal policy. In terms of allocation clues, focus on two areas: the technology sector, emphasizing internet leaders, and consumer electronics; and high dividend stock strategies, with a focus on state-owned enterprises listed on the HKEX.

Furthermore, according to Goldman Sachs' latest report, mainland consumer stocks surged an average of about 32% in the past week after the People's Bank of China announced easing measures and the September Political Bureau meeting. The report highlights consumer boost as a key focus. Based on the bank's latest released report 'China Plus Conference 2024 Travel for Non-Essential Goods,' policies like exchange old for new have shown preliminary positive effects, with Shanghai's consumer vouchers driving the development of consumption services such as dining and sports activities and indirectly supporting the real estate market, employment, and the stock market, which may bring about better wealth effects and confidence.

Editor/Somer