银河证券：短期震荡不改AI产业链投资价值

Core Viewpoint - The short-term performance of the Hong Kong stock market will be affected by trade frictions, which may suppress investor risk appetite and lead to market volatility. However, in the long term, the expansion of capital expenditure by global tech giants will result in a continuous emergence of new products, positively impacting the AI industry chain [1]. Group 1: Market Outlook - Trade frictions are expected to create disturbances in the short-term performance of the Hong Kong stock market [1]. - The uncertainty surrounding the duration of the U.S. federal government "shutdown" and the escalation of China-U.S. trade tensions may increase market risk aversion [1]. Group 2: Investment Opportunities - AI-related stocks in the Hong Kong market are deemed to have high attention value due to the long-term positive trends in the tech sector [1]. - Precious metals and other safe-haven assets may see opportunities as market risk aversion rises [1]. Group 3: Relevant ETFs - The Hong Kong Stock Connect Technology ETF (159101) covers the entire technology industry chain [1]. - The Hang Seng Internet ETF (513330) focuses on leading internet companies [1].