Group 1 - The core viewpoint of the articles indicates that the US and China are set to return to the negotiation table, which has positively impacted stock markets, with US stocks rising and Hong Kong stocks opening higher [1] - The Hang Seng China Enterprises ETF (159960) increased by 1.60%, with notable gains in constituent stocks such as China Life (02628) up 6.21%, SMIC (00981) up 4.39%, and Xpeng Motors-W (09868) up 4.18% [1] - The US President has identified three major issues for negotiation: rare earths, fentanyl, and soybeans, while the Chinese Foreign Ministry emphasized the need for equal and respectful negotiations [1] Group 2 - According to China Merchants Securities, the Hong Kong stock market is expected to experience a period of volatility before a potential upward trend, driven by factors such as continuous innovation in the Chinese tech industry and a low probability of high tariffs being implemented [1] - The upcoming Fourth Plenary Session of the Communist Party discussing the "14th Five-Year Plan" is anticipated to boost risk appetite among investors [1] - The expectation of continued interest rate cuts by the Federal Reserve is likely to lead to sustained capital inflows, improving fundamentals and profit expectations, which may drive a slow bull market trend in Hong Kong stocks [1] Group 3 - The Hang Seng China Enterprises ETF closely tracks the performance of the Hang Seng China Enterprises Index, which includes all H-share companies listed on the Hong Kong Stock Exchange [2] - As of October 20, 2025, the top ten weighted stocks in the Hang Seng China Enterprises Index include Alibaba-W (09988), Tencent Holdings (00700), and China Construction Bank (00939), collectively accounting for 55.33% of the index [2]