Industrial Securities: The Hong Kong stock market will continue its bull market trend in 2026, with the market rhythm rising in a "torch climbing the mountain" pattern.
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According to Golden Ten Data on January 2, Industrial Securities pointed out that the Hong Kong stock market will continue its bull market trend in 2026, with the market rhythm resembling a "torch climbing a mountain"—rising with fluctuations. The main investment themes will focus on "growth momentum aggregation + value restructuring dividends." From a fundamental perspective, the net profit year-on-year growth rate of Hong Kong Stock Connect constituent stocks is expected to reach 7.3% in 2026, with sectors such as information technology, consumer discretionary, and healthcare leading in growth rate. Profit improvement will provide solid support for the market. Additionally, the dual returns of "asset appreciation + exchange gains" brought by the appreciation of the RMB will further attract global capital back to Hong Kong stocks, driving valuation recovery to deeper levels.
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