进击的港股：恒指何以领跑全球？

Group 1 - The Hong Kong stock market has shown significant growth this year, with the Hang Seng Index rising over 20% since the beginning of the year, and the Hang Seng Tech Index performing even better [1] - Current valuations of the Hong Kong stock market are still considered low compared to historical highs in 2021, indicating potential for further growth, especially in sectors like technology, internet, innovative pharmaceuticals, and new consumption [1][2] - The recent trend of foreign capital inflow into the Hong Kong market is expected to continue, driven by the Federal Reserve's shift towards a more accommodative monetary policy, which could act as an accelerator for the market [2] Group 2 - Hong Kong's tech companies are becoming increasingly competitive in the AI sector, supported by recent upgrades to the listing system that facilitate the entry of biotech and hard tech companies [2] - Major tech firms in Hong Kong, such as Alibaba and Tencent, are leading in the development of multimodal AI models and are increasing their capital expenditures in AI, which could enhance their market position [2] - There is still room for growth in southbound capital flows, with over 900 billion RMB having flowed into Hong Kong stocks this year, particularly benefiting large tech stocks like Tencent, Meituan, Xiaomi, and Kuaishou [3]