2 1 Shi Ji Jing Ji Bao Dao·2025-09-11 03:20Group 1 - The Hong Kong stock market showed volatility on September 11, with the Hong Kong Technology 50 ETF (159750) declining by 1.5%, while major constituents like Xiaomi and JD.com fell over 1% [1] - Southbound capital saw a net inflow exceeding HKD 56.46 billion, indicating strong interest from mainland investors [1] - The A-share market experienced significant gains from June 30 to August 29, with the CSI 300 index rising by 14.66% and the ChiNext index increasing by 36%, while the Hang Seng Index only rose by 3.26% during the same period [1] Group 2 - According to GF Securities, the Hong Kong market tends to perform well in the 12 months following the Federal Reserve's first rate cut, with the Hang Seng Index rising over 48% since September 18, 2024, and the Hong Kong Technology Index increasing by 72% [2] - The expectation of a rate cut by the Federal Reserve is seen as beneficial for A/H assets, enhancing the appeal of Chinese assets, especially in the context of increased liquidity from domestic monetary policy [2] - The Hong Kong Technology 50 ETF tracks the Hong Kong Technology Index, which includes major companies like Alibaba, Tencent, and Meituan, covering various tech sectors such as electric vehicles and artificial intelligence [2] Group 3 - As of September 2, 2023, the net inflow of southbound capital reached approximately HKD 1 trillion, marking a record high since the launch of the Hong Kong Stock Connect in 2014 [2] - In 2023, there has been a significant increase in share buybacks among Hong Kong-listed companies, with 223 companies repurchasing a total of 53.20 billion shares worth HKD 1,225.69 billion [2] - Since late August, the outflow of active foreign capital from the Hong Kong market has decreased, while passive foreign capital inflow has accelerated, with the Hang Seng Index and Hang Seng Technology Index rising by 27.70% and 29.79% respectively this year [2]