DL Holdings GP Chen Ningdi: Hong Kong stocks are entering the early stage of the second wave of bull market rise.

On February 11th, DL Holdings GP (01709) Chairman and CEO Chen Ningdi wrote in his latest column that the United States may enter an accelerated interest rate cut channel in the second half of this year due to adjustments in economic policies, while China is promoting economic development through measures such as reserve requirement cuts and policy support, providing strong support for the rise of Hong Kong stocks in the global macroeconomic environment. Looking ahead to the performance of the Hang Seng Index in the spring market, he pointed out that with the improvement of the funding environment and the continued release of policy support, the Hong Kong stock market is gradually entering the early stage of the "second wave of bull market rise." The article mentioned that since the end of 2024, the Hong Kong Interbank Offered Rate (HIBOR) has been continuously declining, indicating a significantly abundant market liquidity. The Hang Seng Index rebounded from its low point of 19000 at the end of last year to the current 21500 points, a 13% increase. At the same time, funds have clearly flowed into Hong Kong stocks, especially in the technology sector, showing a recovery in institutional investor sentiment. Chen Ningdi emphasized that HIBOR, as a leading indicator, has consistently predicted market rebound trends in several quarters of the Hong Kong stock market. The article also mentioned the recent breakthrough in Chinese technological innovation - the launch of DeepSeek, which has once again sparked a global AI application craze, bringing new growth possibilities for Chinese internet assets and injecting more imagination into the technology sector of Hong Kong stocks. Chen Ningdi pointed out that the benign interaction between the technology, consumer, and financial sectors, as well as the undervaluation characteristics of the Hong Kong stock market, give it a significant advantage in global asset allocation.