Investment Strategy Amidst a Breather
The broader market has surged steadily, reaching 26,000 points. I have consistently maintained a full-year target of 27,500 points, corresponding to a price-to-earnings (P/E) ratio of 13 times, which is already considered high. If all conditions remain favorable and foreign capital increases allocations in Hong Kong stocks, briefly touching the 30,000-point mark may not be out of reach.
Over the past two weeks, Hong Kong stocks have started showing signs that it is difficult for investors to find attractive buying opportunities, as mainstream stocks are no longer cheap. Identifying quality investment targets now requires considerable effort. The market indeed needs a breather, and the range is expected to stabilize between 26,000 and…
