Mei Ri Jing Ji Xin Wen·2025-10-20 02:27Core Viewpoint - The Hong Kong stock market is experiencing a collective rise, particularly in the technology sector, driven by investor optimism regarding China's potential in key technology fields and the ongoing AI revolution [1][2]. Group 1: Market Performance - On October 20, the three major indices in Hong Kong collectively rose, with the Hang Seng Technology Index increasing by over 3% [1]. - Major stocks in the technology sector, including Alibaba, NIO, and Baidu, saw significant gains, with Alibaba rising over 4% [1]. Group 2: Investment Insights - Guotai Junan Futures highlighted a systematic reassessment of China's breakthrough potential in key technology areas, shifting the market's focus from "Chinese domestic demand assets" to "Chinese technology assets" [1]. - The Hang Seng Technology Index ETF (513180) is currently valued at 22.13 times earnings, which is below 75% of its historical valuation since inception, indicating potential for future growth [2]. - The market is expected to benefit from trends in AI and potential foreign capital inflows due to a favorable interest rate environment, with continued support from southbound capital [2].