--- title: "Hong Kong Stock Review: Are All the Bad News Out?" type: "News" locale: "en" url: "https://longbridge.com/en/news/280299159.md" description: "The recent situation in the Hong Kong stock market has improved, with significant withdrawals of southbound funds and a rebound in precious metals. Market concerns over supply chain risks in the Middle East have eased, and the sharp drop in gold prices is mainly due to liquidity tightening. The World Gold Council pointed out that more central banks will purchase gold, indicating a trend towards de-dollarization. Domestic bank stocks have performed strongly, with expectations of a decrease in deposit rates and a rebound in net interest margins. Consumer stocks have shown stable performance, becoming a safe-haven sector. LAOPU GOLD's Q1 performance exceeded expectations, with profits reaching 40% of the annual target" datetime: "2026-03-24T10:37:16.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/280299159.md) - [en](https://longbridge.com/en/news/280299159.md) - [zh-HK](https://longbridge.com/zh-HK/news/280299159.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/280299159.md) | [繁體中文](https://longbridge.com/zh-HK/news/280299159.md) # Hong Kong Stock Review: Are All the Bad News Out? Recent news has been quite chaotic, but from the tone of the former president, it is not difficult to see TACO's thoughts. Coupled with reports that more and more ships are successfully paying for passage, it reflects that the risk of a complete blockage in the Middle East supply chain is decreasing, suggesting that the worst may be over for the market. Additionally, the recent sharp drop in gold prices is mainly due to tight liquidity, which has become the "liquidity blood bag" for global markets. At the same time, the World Gold Council recently stated that more central banks will purchase gold and pointed out that in recent months, some new central banks, or those that have been inactive or absent in the gold market for a long time, are entering the gold market. This trend is expected to continue, indicating ongoing signs of de-dollarization. The key to stabilizing gold prices in the short term lies in the alleviation of geopolitical risks, which is similar to the situation in the Hong Kong stock market. Today, the situation in the Hong Kong stock market has improved, leading to a significant withdrawal of southbound funds, indicating a preparation for a protracted battle. From the market perspective, precious metals have rebounded significantly following the atmosphere, and even if restrictions are lifted, it is highly likely that the previous supply structure will not return. The price center of oil is expected to rise, and many energy or downstream products are also likely to increase, which is beneficial for the export of various domestic products, such as the accelerated penetration of overseas electric vehicles. Domestic bank stocks were also strong today, with reports stating that over 50 trillion yuan in bank time deposits are set to mature this year, about half of which are medium to long-term deposits. Even if these deposits do not enter the stock market, their renewal will significantly lower deposit rates, and it is believed that many banks' net interest margins will begin to bottom out and recover this year. In comparison, the rebound of the technology sector is weaker than that of financial stocks, as earlier valuation pressures still exist, especially since the situation is not yet fully stable. As several consumer stocks announce their earnings, although the overall growth rate is not high, the highlight is stability, which is not closely related to AI, technology, or the situation, making it one of the safe-haven sectors. Of course, in terms of dividend yield, many may not even compare to bank stocks. At the same time, Laopu Gold's Q1 earnings guidance greatly exceeded expectations, with profits of about 3.7 billion yuan, compared to the market estimate of an annual profit of about 8-9 billion yuan, already achieving over 40%. Last year, the company's dividend payout ratio exceeded 70%, and based on this trend, its current valuation and dividend yield are better than most peers. With the decline in gold prices, to some extent, it benefits fixed-price products, as price adjustments will not keep pace with the decline in gold prices. However, if gold prices continue to fall, Laopu Gold, which has not hedged, will also face certain inventory risks, and consumers may adopt a wait-and-see attitude. 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