Haitong International’s Zhang Yidong: The AI trend in Hong Kong stocks is expected to return to an upward trend and further spread to a broader AI industry chain

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Mars Finance News: Haitong International analyst Zhang Yidong released a research report, saying that the uncertainty around the July unlock deadline, as expected, has materialized and translated into actual market volatility. Overall, the unlocks do not pose a systemic risk to the technology sector outlook in Hong Kong stocks. The “summer cold wind” adjustments in June and July are now entering their aftershock phase. Second, the July unlock risks are gradually being realized, and relevant key companies are moving into fundamental value pricing. After the unlocks, the pricing logic for AI large-model companies will shift from a tug-of-war driven by unlock events, scarcity, and limited floating shares to business commercialization execution and validation of earnings quality. In August, as overseas macro liquidity and micro liquidity shocks ease, and with stronger Southbound follow-through capacity under interconnection and mutual market access, the AI rally is expected to return to an upward trend and further spread from AI scarce assets to a broader AI industry chain. (China Finance Network)
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