美联储降息在即，恒生科技创4年新高！这个指数却跑赢恒科15%？

Group 1 - The core viewpoint of the article highlights the significant rise of Hong Kong tech stocks, with the Hang Seng Tech Index reaching its highest level since November 2021, despite underperforming the broader Hong Kong tech index by 15 percentage points since its listing [1][3] - The Hong Kong Tech Index has a larger capacity and covers a wider range of sectors including AI, internet, innovative pharmaceuticals, semiconductors, and automotive, making it the only index that comprehensively covers the "China Tech Giants" [3] - The Hong Kong Tech 50 ETF (159750), which tracks this index, saw a 3.34% increase at midday, with major constituents like Baidu, JD.com, Meituan, and Alibaba experiencing significant gains [3] Group 2 - Today is a crucial day for the Hong Kong market as the Federal Reserve is expected to announce its September interest rate decision, with a general market expectation of a 0.25% rate cut [5] - Historically, Hong Kong stocks, being sensitive to overseas liquidity, tend to benefit from global capital inflows during Fed rate cuts, particularly in the tech sector which has the highest growth potential [5][7] - The current valuation of Hong Kong tech stocks stands at 24.11 times earnings, which is lower than 87% of the time in the past, indicating a favorable entry point for investors [5] Group 3 - From October last year to September 16, the Hong Kong tech sector has outperformed the Hang Seng Index, consumer, and real estate indices with a remarkable increase of 71% [7] - The top ten constituents of the Hong Kong Tech 50 ETF reported that 80% achieved year-on-year net profit growth in the first half of this year, providing solid earnings support for the sector [9] - The article emphasizes that the tech sector is not only benefiting from overseas liquidity but also from domestic policy support and industry trends, particularly in AI and robotics [11] Group 4 - Recent policy support for new productivity sectors such as AI and low-altitude economy in China is shifting the narrative back to "AI storytelling," suggesting that the Hong Kong tech sector will likely remain a focal point for market trading [11] - The Hong Kong Tech 50 ETF has seen a net inflow of over 40 million yuan in the past five days, indicating that smart money is positioning itself in this sector [11] - The combination of favorable valuations, policy support, and strong earnings makes the Hong Kong tech sector a compelling area for investment consideration [11]