资金面与基本面共振，港股科技互联网板块迎来配置良机

Economic Overview - The domestic economic fundamentals are showing positive signs, with GDP growth of 5.2% year-on-year in the first three quarters, indicating a stable and progressive economic operation [1] - The external environment is also improving, as trade tensions have eased following a video call between the economic leaders of China and the U.S., agreeing to a new round of consultations [1] Capital Flows - Southbound capital continues to favor the Hong Kong stock market, with a net inflow of 450.89 billion HKD last week, marking a five-week high; the cumulative net inflow this year has surpassed 1.1 trillion HKD, reflecting strong confidence from mainland investors [1] Market Outlook - Analysts suggest that with the backdrop of RMB appreciation and strengthened expectations for U.S. Federal Reserve rate cuts, a "catch-up" rally in Hong Kong stocks is anticipated [1] - The technology sector in Hong Kong, identified as a core asset for AI, is highlighted as having significant investment value, according to Huafu Securities [1] - Despite recent volatility, the upward industrial cycle and influx of new capital are expected to support a bullish market trend for Hong Kong stocks in the fourth quarter, with technology remaining a key focus [1]