美联储降息如期而至破！四季度港股流动性或持续充裕

Core Viewpoint - The Federal Reserve has lowered the federal funds rate by 25 basis points, positively impacting the Hong Kong stock market, with significant gains in mining stocks and increased activity from insurance funds in equity markets [1] Group 1: Federal Reserve Actions - On October 29, the Federal Reserve announced a reduction of the federal funds rate target range by 25 basis points to between 3.75% and 4.00% [1] - This marks the fifth rate cut since September 2024, following a previous cut of 25 basis points on September 17 [1] Group 2: Market Reactions - The Hang Seng Index opened 0.76% higher, while the Hang Seng Tech Index rose by 0.53% [1] - Mining stocks saw significant increases, with Ganfeng Lithium up 7.63%, Tianqi Lithium up 4.12%, and Jiangxi Copper up 6.15% [1] Group 3: Insurance Fund Activity - Insurance companies have actively increased their stakes in listed companies, with 33 instances reported this year involving 24 companies, surpassing last year's total of 20 [1] - Key sectors attracting insurance capital include banking, public utilities, and environmental protection, with H-shares becoming a significant choice for insurance fund allocation [1] Group 4: Market Outlook - According to CITIC Securities, the Fed's expected rate cut is a direct benefit for the Hong Kong stock market [1] - The current liquidity in the Hong Kong market is robust, with continuous inflows from southbound funds, and sectors with strong industrial logic, such as AI and self-developed chips in internet companies, are worth ongoing attention [1]