CITIC Securities: The first buying opportunity for Hong Kong stocks after the Spring Festival.

Sina Finance reported on March 30th that CITIC Securities stated that since February 2026, Hong Kong stocks have experienced a rapid adjustment, with the Hang Seng Index and the Hang Seng Technology Index both significantly falling. The phase retreat is significant. However, the bull market situation in Hong Kong has not ended, and this round of retreat belongs to a typical mid-term adjustment in a bull market rather than a trend reversal. It is currently a window for active long positions for the first time this year. From a long-term perspective, this round of adjustment only impacts market valuation and short-term risk appetite, without shaking the core theme of Hong Kong stock profit recovery; from overseas liquidity, TACO's recent stance has shown signs of marginal improvement, and external liquidity and market sentiment suppression have shown signs of easing, providing conditions for institutional investors to position on the left side. If subsequent external shocks do not further escalate, Hong Kong stocks are likely to break away from the adjustment range and return to a channel of oscillation and rise. The follow-up trend of this round will also shift from valuation-driven to profit-driven, focusing on structural high-quality opportunities.