Ge Long Hui A P P·2025-10-31 00:33Core Viewpoint - The current rise in the US stock market is primarily driven by corporate fundamentals, with a potential reduction in risk factors due to the easing of US-China relations [1] Group 1: US Stock Market - The easing of US-China relations is expected to significantly lower potential disturbances from additional risk factors [1] - The overall liquidity in the US remains relatively abundant, indicating that the US stock market still holds significant allocation value [1] - Recommended sectors for investment include technology, manufacturing benefiting from re-industrialization and policy support, midstream and upstream resource products, and the nuclear power industry [1] Group 2: Hong Kong Stock Market - The risk appetite in the Hong Kong stock market may increase, with a focus on raw materials and sectors benefiting from exports to the US [1] - Sectors that may benefit from the appreciation of the Renminbi include aviation and paper manufacturing [1]