Mei Ri Jing Ji Xin Wen·2025-08-28 02:47Group 1 - The Hong Kong stock market experienced a collective decline on August 28, with the Hang Seng Tech Index dropping nearly 1.5% [1] - Meituan reported a revenue of 91.84 billion yuan for Q2, a year-on-year increase of 11.7%, but adjusted net profit fell by 89% [1] - Ctrip Group's stock surged over 8% following its earnings report, while major players like Meituan and Alibaba faced significant declines [1] Group 2 - Guotai Junan Securities indicated that Hong Kong tech stocks benefiting from the AI cycle may become the main line of the market [2] - The latest valuation of the Hang Seng Tech Index ETF (513180) is at 22.3 times P/E, which is below 74% of the time since its inception [2] - The current valuation of the Hang Seng Tech Index is considered historically low, suggesting potential upward momentum amid improving external liquidity and Fed rate cut expectations [2]