金吾财讯 | 中泰国际表示，港股当前整体升势仍较健康，核心驱动逻辑正从前期避险情绪与仓位回补，逐渐有转向基本面改善与政策预期向好的迹象：一方面，欧盟与美国或将达成贸易协议的消息，显著缓和全球供应链焦虑，叠加中美即将开启第三次贸易会谈之际，其他国家已经出炉的贸易协议一定程度揭示了当前特朗普贸易政策的“套路”，不确定性有所下降也有助于削弱关税威胁对港股的外部冲击；另一方面，内地政策窗口临近提振市场对结构性托举措施的期待，市场或在逐渐重新定价内部基本面修复的速度和力度。往前看，若欧美贸易协议落地及国内政策催化共振，港股或延续“基本面主导”的渐进式修复，建议沿业绩确定性与政策受益链（新能源基建、消费提振）布局。
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