Hong Kong stocks lead the global market rise in July, with structural market trends reflecting the logic of valuation repair.

In July, the Hong Kong stock market saw a strong rebound, reversing the weak performance of June. According to Wind data, the Hang Seng Index rose by over 2,800 points in July, an increase of 13.13%, outperforming major global stock indices. Analysts believe that the robust performance of Hong Kong stocks in July resulted from the resonance of three factors: the undervalued market effect, global capital rebalancing, and the spread of AI-related market trends. Against the backdrop of increasing volatility in major global markets, Hong Kong stocks have become an important platform for capital shifting due to their relatively low absolute valuations and clearer industrial trends. However, after a rapid short-term rise, the phase of smooth valuation recovery may have already passed, and the subsequent market trends will require further verification from fundamental data.