Recently, Luo Jiaming, fund manager of China Europe Fund, said that the unsatisfactory performance of the Hong Kong stock market this year is mainly due to the following reasons: first, the disturbance caused by policy changes, second, the overvaluation caused by market sentiment, and third, the structural changes of Hong Kong stock investors caused by the investment boom at the beginning of the year.
Looking ahead, Luo Jiaming believes that the Hong Kong stock market is very suitable for bottom-up value investors. Excellent companies from all walks of life are listed in the Hong Kong stock market, especially in the Internet, consumer and biomedical industries. "If you believe that excellent Chinese companies will return to value, in the long run, now is a good opportunity to layout high-quality companies in these industries. When the market is extremely pessimistic, you can be a little more positive."
(China Securities Journal · China Securities Network)
