Sou Hu Cai Jing·2025-10-15 01:45Core Viewpoint - The article discusses the potential benefits for Chinese assets, particularly in the context of the Federal Reserve's interest rate cuts and the restructuring of the global monetary system, which may lead to a reallocation of global funds towards China [1] Group 1: Market Performance - On October 15, the Hang Seng Index opened up by 1.08%, and the Hang Seng Tech Index rose by 1.31% [1] - Tech stocks showed signs of stabilization, with ASMPT increasing by over 3% [1] - The Hong Kong Stock Connect Tech ETF (159101) and the Hang Seng Internet ETF (513330) both opened with gains exceeding 1% [1] Group 2: Global Monetary Dynamics - The Federal Reserve's interest rate cuts typically lead to a release of global liquidity, which may benefit Chinese assets, especially amid the current backdrop of global monetary system restructuring [1] - The combination of a depreciating dollar and a reversal in innovative narratives reflects a potential core driver for the current market trends [1] - If managed properly, Chinese assets could benefit from the dual dividends of accelerated fragmentation and diversification of the global monetary system [1] Group 3: Investment Focus - The article expresses optimism regarding the "catch-up" rally in Hong Kong stocks, shifting focus from "takeout narratives" to "AI narratives" [1] - Attention is drawn to the Hong Kong tech and internet sectors, which are seen as gathering core AI assets [1] - The Hong Kong Stock Connect Tech ETF (159101) covers the entire tech industry chain, while the Hang Seng Internet ETF (513330) focuses on leading internet companies [1]