Core Viewpoint - The market is expected to enter a "low season" mode due to the impact of the National Day and Mid-Autumn Festival holidays, along with uncertainties surrounding the U.S. government's short-term financing bill and potential overseas disturbances [1] Market Conditions - There is still divergence in the market regarding the timing and extent of interest rate cuts by the Federal Reserve [1] - Some quality sectors in the Hong Kong stock market have valuations close to historical highs, leading to short-term profit-taking pressure [1] Investment Strategy - The company recommends maintaining a "high elasticity" and "high dividend" barbell strategy for industry allocation, with appropriate adjustments based on policy catalysts [1] - Selected stocks for October include: Qifu Technology, Prosperity Industrial Trust (00778), OmniVision Technologies, Kuaishou-W (01024), Alibaba-W (09988), China National Heavy Duty Truck Group (03808), CanSino Biologics (09926), Pop Mart International (09992), and China Power (02380) [1] Sector Insights - Driven by technological narratives, there is a continuous increase in domestic and international computing power investments [1] - The demand from domestic investors for quality Hong Kong stocks in the AI sector remains strong [1]
交银国际：市场料短暂进入淡季模式 行业配置高弹性及高股息