港股早参丨“木头姐”豪掷2100万美元买入阿里等中概股，机构称港股中长期向上趋势不改

Market Overview - On September 23, Hong Kong's three major indices collectively declined, with the Hang Seng Index falling by 0.7% to 26,159.12 points, the Hang Seng Tech Index dropping by 1.45% to 6,167.06 points, and the National Enterprises Index decreasing by 0.86% to 9,290.34 points [1] - The consumer, real estate, and healthcare sectors experienced widespread declines, with tech stocks also mostly retreating. Notable individual stock movements included NIO down nearly 6%, Baidu down nearly 5.5%, Meituan down nearly 3%, and Tencent down nearly 1% [1] Southbound Capital - On September 23, southbound capital recorded a net sell-off of HKD 4.069 billion in Hong Kong stocks, with Alibaba receiving a net buy of HKD 1.673 billion. Year-to-date, the cumulative net buying amount from southbound capital has reached HKD 111.8398 billion, significantly exceeding last year's total net buying amount [2] U.S. Market Performance - Overnight, all three major U.S. stock indices closed lower, with the Dow Jones down 0.19%, the S&P 500 down 0.55%, and the Nasdaq down 0.95%. Notable declines included Amazon down over 3% and Nvidia down nearly 3% [2] - Chinese concept stocks also fell, with the Nasdaq Golden Dragon China Index down 2.22%. Specific declines included Baidu down over 8%, Zhihu down over 5%, Bilibili down over 4%, and JD down nearly 3% [2] Short Selling Data - On September 23, a total of 645 Hong Kong stocks were short-sold, with total short-selling amounting to HKD 32.237 billion. The top three stocks by short-selling amount were Alibaba at HKD 4.052 billion, Baidu at HKD 1.758 billion, and Meituan at HKD 1.615 billion [4] Institutional Insights - According to China Merchants Securities International, the Hong Kong stock market rebounded as expected in early to mid-September, with AI internet and non-ferrous sectors becoming structural main lines. Following potential interest rate cuts by the Federal Reserve, the market may experience increased volatility, but the long-term upward trend remains intact [5] - The institution recommends focusing on technology (AI internet large caps + high-end manufacturing small caps) and non-ferrous metals, while also increasing allocation to undervalued Hong Kong insurance stocks and high-dividend value strategies [5] ETF Insights - The Hong Kong Consumption ETF (513230) focuses on e-commerce and new consumption sectors, which are relatively scarce compared to A-shares [6] - The Hang Seng Tech Index ETF (513180) includes core AI assets and encompasses technology leaders that are also relatively scarce compared to A-shares [7]