From the Hong Kong and/or U.S. stock markets, construct an investment portfolio based on a budget of HK$3 million for medium-term investment horizon (3 to 5 years).

Please choose stocks only. Therefore, you should avoid derivatives products such as options, futures, warrants etc.

Your selections of the stocks and their weightings in the portfolio should be justified by description, including both quantitative and qualitative data. However, you are not advised to use technical analysis to justify your selection and there should not be more than 5 different stocks in your portfolio, excluding cash holdings.

Your report should include consideration of risk & return, industry analysis, and diversification etc, and demonstrate proper application of investment and portfolio management concepts and theories.

Your report should be 800 1,000 words (excluding graphs, diagrams).

please provide reference too.