Hong Kong Stock Market Review: Continue to Hold Together

Hong Kong Stock Market Review: Continued clustering, no reduction in dividend tax exemption, funds shifting to high-yield and dividend stocks, overseas elections and rate cuts increasing market uncertainty, favoring high dividend and mid-cap estimates. More substantial stimulus policies are needed domestically. One of the gifts of the return is allowing non-Chinese Hong Kong residents to apply for Home Return Permits, putting pressure on the Hong Kong retail industry. After the opening of the Shenzhen-Zhongshan Link, there is an increase in mainland consumer spending in Hong Kong. LINK REIT has the best defensive capabilities in Hong Kong REITs, but the decline in total retail sales is related to the popularity of shopping in Shenzhen supermarkets. Hong Kong malls need to provide non-shopping experiences to enhance attractiveness. Local telecom stocks may outperform REITs, such as HKT-SS, which is expected to rise to over 9% dividend yield