港股震荡上行有支撑，科技成长后市可期

Core Viewpoint - Short-term adjustments in the Hong Kong stock market do not alter the upward trend, with a solid bottom for downside protection. Following the Federal Reserve's interest rate cuts, global capital is expected to flow into the stock market, benefiting the Hong Kong market, particularly the technology growth sector [1]. Group 1: Market Dynamics - The current upward momentum in the Hong Kong stock market is driven by favorable industrial factors, necessitating ongoing attention to prosperous sectors and global industrial chain resonance [1]. - Investors are awaiting more fundamental signals, with the upcoming Fourth Plenary Session's "14th Five-Year Plan" expected to influence market risk appetite [1]. Group 2: Technology Sector Insights - Despite potential disruptions from leading U.S. technology firms affecting the trading rhythm of AI technology in Hong Kong, the acceleration of China's AI progress suggests that Hong Kong's technology leaders still have room for recovery [1]. - Relevant ETFs in the Hong Kong market include the Hong Kong Stock Connect Technology ETF (159101), which covers the entire technology industry chain, and the Hang Seng Internet ETF (513330), focusing on leading internet companies [1].