港股消费板块再度走强，泡泡玛特等“港股消费品F4”盘中股价齐创新高

Group 1 - The Hong Kong stock market indices opened lower but rose throughout the day, with the Hang Seng Tech Index gaining over 0.5% in the afternoon, driven by strong performances from stocks like Smoore International, Miniso, and Pop Mart [2] - The Hong Kong consumption ETF (513230) saw an increase of over 1.5% in the afternoon, reflecting the strong performance of new consumption stocks, including Pop Mart, Mao Ge Ping, and Mi Xue Group, which reached new highs [2] - The recent surge in the consumption sector is attributed to a combination of policy support and a shift towards "self-satisfying consumption," along with the effects of holiday spending [2] Group 2 - The policy clearly supports new business models such as "IP+" and "AI+", facilitating a transition in consumption from quantity to quality [2] - The consumption sector is viewed as a "safe haven" for funds due to its anti-cyclical properties and growth certainty amid external disruptions [2] - Pacific Securities is optimistic about the opportunities for brands to expand overseas, particularly in Southeast Asia, where consumer demand remains unmet and local manufacturing capabilities are relatively weak [2] Group 3 - Chinese consumer brands have made significant strides in expanding into Southeast Asia, with notable examples including Mi Xue, Miniso, and Pop Mart [3] - The Hong Kong consumption ETF (513230) encompasses e-commerce and new consumption sectors, offering exposure to relatively scarce new consumption opportunities compared to A-shares [3] - The Hang Seng Tech Index ETF (513180) includes both software and hardware technology, featuring leading tech companies that are also less common in A-shares [3]