Recently, Hong Kong stocks have rebounded, with the Hang Seng Index breaking through the 19000 mark. Zhao Yingyan, senior investment strategist at Oriental Finance Wealth Management Market and Investment Strategy Department, said that as there are no major events to watch out for in the next one to two months, it is expected that Hong Kong stocks will be in a volatile situation for the rest of the quarter. Due to market expectations that the US may cut interest rates this year, if China's economic data performs well in the future, it may help boost mainland Chinese stocks. Regarding the current uptrend in Hong Kong stocks, Zhao Yingyan pointed out that it is driven by the reallocation of international capital rather than economic data. She noticed that in April, there was an increase in hedge fund inflows into mainland Chinese stocks, as well as inflows of southbound funds to hedge against foreign exchange risk. Although long funds are still reducing their holdings in mainland Chinese stocks, the situation has improved compared to before. On the other hand, the cumulative effect of the continuous policy support introduced by the central government this year, as well as the better-than-expected performance of mainland Chinese stocks, which have not seen significant downgrades, and the announcement of buybacks and dividends, have also helped boost investor confidence. In terms of investment, Zhao Yingyan believes that investors should continue to adopt a dumbbell strategy, focusing on technology and internet stocks, with a preference for AI-related and gaming stocks over e-commerce. She pointed out that some tech stocks are expected to outperform expectations, and if they have strong performance and release new games or products, it will be beneficial for stock movements. At the same time, she values buybacks and dividends, as when growth is not too steady, buybacks can help increase investor confidence and ensure profit transparency.