Brokers See Hong Kong Stock Market Fundamentals and Valuations Rebounding Together in 2027

The brokers' 2027 call is really a sequencing argument, not a simple bullish view: dividend strategies are framed as the defensive base while liquidity expectations remain unsettled, with growth exposure contingent on that improving. That implies the market's next leg depends less on earnings visibility than on whether global fund rebalancing actually materializes. The named sectors — biotech, AI applications, internet, smart driving, embodied intelligence — signal where brokers see structural earnings improvement concentrated. Whether the projected easing in liquidity shocks shows up before fundamentals do is the open question.