On February 16th, the Chen Guo team of CITIC Securities Investment Strategy issued a statement stating that the current domestic demand has started steadily, with limited external demand disturbance. Supported by factors such as a clear direction towards stable growth, the real estate industry gradually emerging from the freezing point of demand, and policies promoting the entry of incremental funds into the market, the medium-term market will continue to maintain a volatile upward trend. The recent rise in the technology sector has been considerable, and some short-term trading indicators in certain thematic directions are overheated. However, compared to the fundamental logic of 23 years, there is still room for interpretation of the technology market in this round. The valuation center and upper edge of a group of representative companies, including Hong Kong stock technology giants, also have reasons to be significantly higher than in the past two years. The specific interpretation is expected to have some rotation within the technology mainline.
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