China Galaxy Securities: it is expected that the Hong Kong stock market will fluctuate and rise before and after the Spring Festival.

The research report from Galaxy Securities of China indicates that after a recent pullback, the attractiveness of Hong Kong stock market valuation has further increased, and it is expected that there will be volatile upward trends in the Hong Kong stock market before and after the Spring Festival. In terms of allocation, it is recommended to pay attention to the consumer sector as the current valuation is relatively low. With the Spring Festival approaching, there will be more consumer promotion policies, consumer activity gradually increasing, and the consumer sector is expected to continue to rise. The uncertainty of the Fed's interest rate cuts is high, geopolitical situations are unpredictable, and sectors such as precious metals, and energy are expected to trend upward. The technology sector remains the main focus for medium to long-term investments. After experiencing a recent pullback, valuation pressures have decreased, and related sectors are expected to rebound.