中国资产，闪耀市场！

Core Viewpoint - Chinese assets are experiencing a significant surge, with strong performances in both the Hong Kong and A-share markets, driven by increased foreign investment interest and positive market sentiment [1][2][3]. Market Performance - On October 2, the Hang Seng Index rose by 1.61% to close at 27,287.12 points, while the Hang Seng Tech Index increased by 3.36% to 6,682.86 points [4][3]. - The FTSE China A50 Index futures also saw a notable rise, peaking over 1.2% [2][11]. Sector Highlights - The semiconductor sector showed remarkable strength, with the Wind Hong Kong Semiconductor Index surging over 10%. Notable stock performances included Junma Semiconductor up nearly 30% and SMIC up over 12% [4][5]. - The electrical equipment sector also performed well, with stocks like Xinyi Solar and China High-Speed Transmission rising over 9% [6][7]. - The precious metals sector saw significant gains, with China Silver Group rising over 30% and Tongguan Gold up over 15% [8]. Foreign Investment Trends - Global fund managers are returning to the Chinese market, with reports indicating a significant increase in foreign interest in Chinese assets. Goldman Sachs noted that hedge fund activity in China's stock market reached a recent high [13][14]. - As of the end of August, foreign long funds saw an inflow of $1 billion, contrasting with a $17 billion outflow the previous year, indicating a shift in sentiment towards Chinese equities [14][15]. - A recent survey showed that over half of institutional investors are optimistic about the A-share market, a significant increase from earlier in the year [14]. Future Outlook - Morgan Stanley predicts a "super cycle" in the memory chip industry due to potential supply-demand imbalances next year, with major companies like SanDisk and Micron announcing price increases for their products [5]. - The demand for energy storage cells in China is strong, with leading battery manufacturers operating at full capacity and orders extending into early next year. The goal is to reach a new energy storage installation capacity of over 180 million kilowatts by 2027, driving an estimated investment of around 250 billion yuan [10].