Lau Sze Ming: Hong Kong Stocks' Rebound Base Not Yet Stable; Domestic Demand Stocks Should Be Bought, Not Chased

The Hang Seng Index rebounded significantly by 335 points last Friday to close at 23,294 points, rising 201 points or 0.9 per cent for the week and reversing the weekly decline. Lau Sze Ming believes that although Hong Kong stocks show signs of stabilising, the foundation for the rebound is not solid, the sell-off in AI concept stocks has not yet ended, and capital rotation has driven gains in consumer stocks with relatively weak fundamentals to support the market. He says it is difficult to say the market correction has ended, with market focus still concentrated on corporate financial and credit market risks.