[Hong Kong-listed companies have repurchased more than HK$120 billion during the year, and are optimistic about allocation opportunities in dividends, innovative drugs and other sectors] October 28th, the Hong Kong stock market has continued to fluctuate and adjust recently, but the enthusiasm for share repurchases of Hong Kong-listed companies has not diminished. Wind data shows that as of press time on October 27, 358 Hong Kong-listed companies have repurchased 10.168 billion shares since the beginning of this year, with the repurchase amount reaching HK$125.782 billion. Tencent Holdings, AIA, Xiaomi Group-W and other companies are among the top repurchases. Regarding the future trend of Hong Kong stocks, industry insiders believe that Hong Kong stocks may remain volatile in the short term, and may be relatively more resilient if they have a proven track record of profitability and cash flow. In terms of specific allocation, dividend assets represented by operational assets such as railways, highways and ports, as well as innovative drugs and CXO sectors have received attention; for the technology sector, the market is more concerned about whether the rate of return on AI capital expenditures in a high interest rate environment can cover financing costs. (China Securities Journal)