南向资金上周净买入608亿港元，港股科技50ETF（159750）盘中再获净申购

Group 1 - The expectation of a Federal Reserve interest rate cut has led to a significant increase in Chinese assets, with the Nasdaq Golden Dragon China Index rising by 0.87% overnight, and stocks like Li Auto and Bilibili increasing by over 6% [1] - The Hong Kong stock market opened higher on September 16, with the Hang Seng Tech Index up by 0.68%, and notable gains in stocks such as Bilibili-W (over 5%), NIO-SW, and Trip.com Group-S (over 3%) [1] - The Hong Kong Tech 50 ETF (159750) rose by 0.86%, with net subscriptions exceeding 6 million units in the early trading session [1] Group 2 - There has been a significant inflow of funds into Hong Kong stocks, with net purchases by southbound funds reaching 60.8 billion HKD from September 8 to September 12, marking the highest weekly net inflow since May and an increase of 83.97% from the previous week [2] - The overall valuation of Hong Kong tech stocks remains low, with the latest valuation of the Hong Kong Tech Index at 23.87 times PE, which is at the 13.82% historical percentile [3] Group 3 - The short-term outlook for Hong Kong stocks is positive due to the anticipated Fed rate cut, but there are concerns about the marginal weakening of the fundamental outlook, indicating that mid-term gains will depend on the recovery of corporate fundamentals [5] - Incremental funds are increasingly favoring leading tech and internet stocks, with a focus on individual stock logic, while foreign capital is showing interest in Chinese assets [5] - The Hong Kong market is benefiting from global liquidity conditions and foreign capital inflow, with the potential for further appreciation of the RMB against the USD [5]