贸易风波再起，茅台和Labubu你选谁？

Group 1 - The EU has canceled high-level economic dialogues with China due to a lack of progress on trade issues, leading to a negative sentiment in the A-share market [1] - The technology sector in A-shares experienced a significant adjustment, with the computer sector seeing a maximum decline of 25% before a weak rebound, indicating that valuations have not been adequately digested [3][6] - The current price-to-earnings ratio (TTM) of the computer sector remains high at 80 times, suggesting potential downside risk [6] Group 2 - The Hong Kong stock market is experiencing a slight decline, but there is still a bullish outlook due to key level breakthroughs and liquidity benefits from anticipated interest rate cuts by the Federal Reserve [6] - The Hong Kong innovative drug sector saw a nearly 5% drop, but the investment strategy remains to increase positions during significant declines [6] - The price-to-earnings ratio (TTM) of the Hong Kong technology index has decreased to 22.8 times, which is only higher than 18.8% of the time in the past three years, indicating a more favorable valuation [6] Group 3 - The consumer sector in Hong Kong is being highlighted, particularly through the E Fund Hong Kong Consumer ETF, which tracks the National Index and includes major companies benefiting from domestic economic growth [11] - The new consumption trend is characterized by the "self-indulgence economy," where young consumers are willing to spend for emotional value, as evidenced by the 50% repurchase rate of collectibles like Pop Mart [11][12] - Changing consumption scenarios show a shift from traditional activities to experiences like park visits and CityWalk, which are among the fastest-growing leisure activities [12][13] Group 4 - The resurgence of traditional domestic products is noted, with high-end gold products gaining popularity through cultural and technological integration, redefining the luxury market [14]