Hong Kong Stock Market Review: The Final Crazy Rally

Hong Kong stocks continued last week's trend, with funds focusing on undervalued stocks, AH shares, and non-banking sectors performing well. The PB ratio of AH brokerage firms has been restored to 1x, while AMC stocks have risen across the board, with the market anticipating the appreciation of distressed assets. Tomorrow, AH shares may not experience the same drastic fluctuations as when SMIC returned to the A-share market. A press conference will be held domestically at 10 a.m., with expectations that fiscal efforts will improve weak consumer spending. Essential consumer goods such as dairy products are showing signs of recovery, while discretionary consumer goods like automobiles and gambling are benefiting significantly. The market sentiment resembles a flash sale event, and attention should be paid to the return of fundamentals