Liu Gang from China International Capital Corporation Limited: The liquidity in the Hong Kong stock market is loose, and the barbell strategy is still the most optimal strategy.

Thanks to the emergence of new narratives such as artificial intelligence, new consumption, and innovative drugs, the Hong Kong stock market has performed well this year, with the Hang Seng Index, Hang Seng China Enterprises Index, and Hang Seng Tech Index all rising more than 24% so far, leading major global markets. Liu Gang, Chief Overseas Strategy Analyst of CITIC Securities Research Department, said in an interview with reporters that the active performance of the Hong Kong stock market this year is closely related to liquidity, and the long-term macroeconomic factors supporting the capital market in Hong Kong have not changed. The situation of abundant funds but limited quality assets is expected to continue.