美联储降息预期飙升，港股迅速反攻！513770拉涨逾2%，1.5亿资金抢先进场

Core Viewpoint - The Hong Kong stock market shows strong performance, particularly in the technology sector, driven by positive market sentiment and expectations of improved liquidity due to potential interest rate cuts by the Federal Reserve [1][3]. Group 1: Market Performance - The Hang Seng Index and Hang Seng Tech Index opened higher by 0.74% and 0.97% respectively, with major tech stocks like Alibaba, Kuaishou, and Bilibili rising over 2% [1]. - The Hong Kong Internet ETF (513770) also opened strong, increasing by 2.14% with a trading volume exceeding 100 million HKD within the first half hour [2][4]. Group 2: Economic Indicators - U.S. ADP data indicates that private sector job growth was nearly stagnant in May, with only 37,000 jobs added, significantly below the expected 110,000 [3]. - The ISM Services PMI for May recorded at 49.9, falling below the 50 mark for the first time since June 2024, indicating contraction in the services sector [3]. Group 3: Investment Outlook - The expectation of interest rate cuts by the Federal Reserve has increased, with a 78% probability of a rate cut in September, which could enhance liquidity in the Hong Kong market, particularly benefiting the tech sector [3]. - Long-term growth in the Chinese economy and the Hong Kong stock market is anticipated to be driven by technological innovation, with significant profit potential for tech giants in AI development [3]. - Citic Securities suggests increasing the allocation to Hong Kong stocks, indicating that the reasonable allocation should be 40%-50% based on the free float market capitalization of Hong Kong stocks [3]. Group 4: Fund Performance - The Hong Kong Internet ETF (513770) has seen a net inflow of 150 million HKD over the past four days, indicating renewed interest in the tech sector [4]. - Since the beginning of the year, the average daily trading volume of the Hong Kong Internet ETF has been 639 million HKD, showcasing good liquidity and support for intraday trading [7].