The Hang Seng Index's recent rally is largely fueled by solid earnings from tech giants in Hong Kong and a broader recovery in global risk asset sentiment.
Cyclical sectors, especially tech stocks like Tencent and JD.com, have shown impressive earnings, with over 200 companies initiating buybacks, significantly enhancing shareholder returns.
While the recent surge is promising, concerns linger about the sustainability, as China's economic momentum remains shaky, posing risks for ongoing investor interest.
The interplay of foreign capital influence and local market conditions will dictate the long-term trajectory of the Hang Seng, keeping volatility on the horizon.
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