美联储降息箭在弦上，关注港股科技板块

Core Viewpoint - The Federal Reserve is expected to lower interest rates by 25 basis points with a probability of 96.1%, which could benefit growth sectors and interest-sensitive industries, particularly in the Hong Kong stock market [1]. Group 1: Market Reactions to Interest Rate Changes - Historical data shows that during preventive rate cuts, growth sectors and interest-sensitive industries benefit significantly, with Hong Kong stocks exhibiting greater elasticity [1]. - The Hong Kong internet technology sector, transitioning from a focus on delivery services to AI narratives, is likely to continue benefiting from these rate cuts [1]. Group 2: Currency and Market Performance - The appreciation of the Renminbi typically correlates with overall market gains, with Hong Kong stocks showing greater responsiveness due to improved economic expectations [1]. - Market sentiment, foreign capital flows, and corporate fundamentals are influenced by currency fluctuations, making growth styles in Hong Kong stocks more favorable during appreciation periods [1]. Group 3: Investment Strategies - For ordinary investors, direct stock investment may be challenging; thus, utilizing related ETFs is recommended for exposure [1]. - The Hong Kong Stock Connect Technology ETF (159101) closely tracks the CSI Hong Kong Stock Connect Technology Index, selecting 30 high-market-cap and high-R&D technology leaders, with the top ten stocks accounting for 77% of the weight [1]. - The ETF covers major players like Tencent and Alibaba, as well as emerging forces like Li Auto and BeiGene, spanning popular sectors such as software, hardware, new consumption, innovative pharmaceuticals, and new energy vehicles [1]. Group 4: Flexible Investment Strategies - Investors can adopt flexible allocation strategies based on their needs, such as using the ETF as a core holding for growth assets combined with low-volatility dividend stocks to create a "barbell strategy" [2]. - Trend investors can leverage the high elasticity of the technology sector to capture market phases [2]. - Dollar-cost averaging investors can gradually build positions in low-valuation ranges to smooth risks and enhance investment experiences [2].