降息潮下，看好港股的几点理由...

Group 1 - The core viewpoint of the article highlights that the Hong Kong stock market is becoming a new focus for capital amid a global interest rate cut trend, with significant advantages such as offshore attributes, high foreign participation, and low valuations [3][10]. - In September, the Hang Seng Index rose by 5.85%, while the Shanghai Composite Index fell by 0.98%, indicating a clear outperformance of the Hong Kong market [1]. - The influx of liquidity due to anticipated interest rate cuts from the Federal Reserve is expected to benefit the Hong Kong stock market, making it an attractive destination for foreign capital seeking higher returns [3][9]. Group 2 - The AI industry is experiencing significant advancements, with Hong Kong's tech sector showing positive changes in fundamentals, including the use of self-developed chips by internet giants for AI training and the launch of new AI models [7][8]. - Notable financial performances from major companies in the tech sector include Alibaba Cloud's revenue growth of 26%, Tencent's profit increase of 16%, and Xiaomi's automotive business revenue soaring by 234% year-on-year [8][9]. - The net inflow of southbound funds has exceeded HKD 1.1 trillion this year, marking a record high since the establishment of the Stock Connect mechanism, further supporting the Hong Kong market [9]. Group 3 - The valuation of the Hang Seng Technology Index stands at a price-to-earnings ratio of 24.24, significantly lower than that of the Nasdaq Technology Index at 36.66 and the STAR Market at 177.25, indicating a valuation advantage for global investors [11]. - International investment banks are raising their ratings for Hong Kong stocks, with Goldman Sachs maintaining an "overweight" rating and Morgan Stanley highlighting the concentration of trading in AI and semiconductor sectors in Hong Kong and A-shares [10][11]. - The article suggests that investors can utilize ETF tools to gain exposure to the Hong Kong tech sector, capitalizing on the benefits of global liquidity easing and the AI industry transformation [15][16].