Hong Kong stocks were generally weak in December due to negative market news. As of December 29, 2023, the monthly gains and losses of Hang Seng Index and Hang Seng Technology were 0.03% and -3.47%, respectively. Looking at the whole year, the Hang Seng Index fell 13.82% during the year, the China Index fell 8.83%, and the China Index fell 13.97%.

Looking ahead to the new year, Everbright Securities believes that the Hong Kong stock market is expected to benefit from increased risk appetite and improved overseas liquidity in the future. Considering that the Politburo meeting and the Central Economic Work Conference set a positive tone this year, the market is expected to break away from weakness in the future as investors' policy expectations and expectations of a recovery in economic sentiment heat up. Furthermore, the probability that the Federal Reserve will raise interest rates in the future has been reduced, and the release of overseas liquidity will also benefit the recovery of Hong Kong stocks.

In terms of allocation, it is recommended to focus on: 1) Technology stocks such as semiconductors, communications, and electronics where the industrial boom coexists with the AI main line. 2) The Politburo meeting emphasized “effectively improving the core competitiveness of state-owned enterprises” and recommended continuing attention to the “China Special Assessment” theme, including building decoration, petroleum and petrochemical, banking, coal and other industries.

Futu News has compiled the January Hong Kong stock stocks of some institutions for reference:

Cow friends, which January gold stock do you have in mind?

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