港股流动性显著改善，哪些板块值得投？

Group 1 - The liquidity in the Hong Kong stock market has significantly improved, with both domestic and foreign funds accelerating their inflow. The cumulative net purchase amount of southbound funds has exceeded HKD 1 trillion this year, supported by the ongoing expectations of interest rate cuts by the Federal Reserve and a globally loose liquidity environment [1][2]. - Three key liquidity factors are highlighted: first, the gradual decline in Hong Kong interbank offered rates post-month-end, leading to lower funding costs; second, the continuous inflow of southbound funds favoring quality Chinese assets; third, the Federal Reserve's reinitiation of the interest rate cut cycle, which benefits non-USD currencies and positively impacts corporate earnings and investment confidence due to the relative strength of the Renminbi [2][4]. Group 2 - The Hong Kong stock market hosts numerous leading companies in high-demand sectors such as technology, internet, pharmaceuticals, automotive, and consumer goods. Despite potential short-term market sentiment fluctuations, long-term benefits are expected from technological breakthroughs and improved liquidity [4]. - Relevant ETFs include the Hang Seng Technology Index ETF (513180), which focuses on technology leaders, new energy vehicle manufacturers, and chip companies, and the Hang Seng Pharmaceutical ETF (159892), which targets innovative pharmaceuticals and contract research organizations in the Hong Kong market [4].