Ge Long Hui·2025-10-05 10:08Group 1 - The core message highlights the unexpected surge of the Hong Kong stock market, driven by the Federal Reserve's interest rate cut, AI performance explosion, and extremely low valuations, leading to significant capital inflows [2][4][5] - The Hang Seng Technology Index has reached a 30% valuation percentile over the past decade, indicating it is significantly undervalued compared to its historical levels and other global markets [5] - Southbound capital inflows have surged, with a net purchase of over 160 billion yuan in September alone, indicating a strong demand for Hong Kong stocks, particularly in the internet and AI sectors [4][5] Group 2 - Major tech companies in Hong Kong are heavily investing in AI, transforming it from a concept into a cash-generating machine, with Alibaba, Baidu, and JD.com announcing substantial AI-related investments [7][8] - Companies are focusing on self-developed chips to reduce costs and enhance performance, which is crucial for survival in the competitive AI landscape [7] - The shift in market dynamics suggests that the Hong Kong stock market is no longer merely following trends but is now a primary destination for investment, particularly in the AI sector [9]