According to the Tianfeng Securities Research Report, the overall CPI and core CPI of the US both rose 0.2% month-on-month in June, and the year-on-year growth rates fell to 3% and 4.8%, respectively. Both figures were better than the median value predicted by Bloomberg. The bank expects the growth rate of US core inflation to decline or be more significant in the second half of the year, and the liquidity environment for Hong Kong stocks may maintain an overall improving trend.
The bank recommended Tencent (00700) and Meituan (03690), all of which are in a historical relative position in their valuations. Additionally, the bank also recommends Bubble Mart (09992), Kuaishou (01024), Reading Text Group (00772), Weimue (02013), and Youzan (08083).