专访德意志银行刘佳：港股科技股迎来新一轮价值重估

Group 1 - The Federal Reserve's decision to restart interest rate cuts is expected to benefit the Asia-Pacific stock market, particularly the technology sector, attracting more foreign capital from Europe and the U.S. [1][2] - The Hang Seng Index has seen a significant increase of 32.33% year-to-date, while the Hang Seng Technology Index has surged by 40.87% [1]. - Companies related to artificial intelligence, especially in semiconductor design and manufacturing, are anticipated to have strong growth potential in the Hong Kong stock market [1][3]. Group 2 - The expected interest rate cuts by the Federal Reserve may lead to a decrease in financing costs, benefiting high-growth technology sectors in Asia [3]. - In Japan and South Korea, foreign capital is expected to flow into high-growth technology industries, particularly those related to the semiconductor supply chain and artificial intelligence [3]. - The Japanese banking sector is likely to benefit from stable economic growth and the Bank of Japan's interest rate hikes, while Japanese real estate investment trusts (J-REITs) may gain from increased foreign tourist inflows [3]. Group 3 - The Chinese central bank is anticipated to lower interest rates to stimulate domestic demand, particularly after recent economic data showed signs of slowing [4]. - Southeast Asian economies may have more room for interest rate cuts to stimulate local economies, given the low inflation and recent currency appreciation [4].