南向净买入1.1万亿，港股科技50ETF（159750）规模、融资创新高

Group 1 - Southbound funds recorded a net purchase of HKD 62.88 billion on September 18, with Meituan, Alibaba, and Pop Mart receiving net inflows of HKD 14.12 billion, HKD 12.1 billion, and HKD 12.07 billion respectively [1] - Year-to-date, southbound funds have accumulated a net purchase of HKD 1,099.89 billion, significantly exceeding the total net purchase amount for the entire previous year [1] - The Hong Kong Stock Technology 50 ETF (159750) saw a net inflow of HKD 65.32 million, reaching a total size of HKD 1.177 billion, with both the size and margin financing hitting new highs since its listing [1] Group 2 - According to Zheshang Securities, the current economic data from the U.S. suggests that the Federal Reserve's upcoming interest rate cuts are more preventive in nature [1] - The anticipated interest rate cuts by the Federal Reserve are expected to provide marginal benefits to the performance of Hong Kong technology stocks [1] - As of September 16, the price-to-earnings ratio (PE-TTM) of the Hang Seng Technology Index is approximately 23 times, which is at the 32nd percentile since July 2020, indicating a potential for growth driven by the AI industry rather than mere valuation recovery [1]