Xin Lang Cai Jing·2025-11-04 10:13Market Performance - The Hong Kong stock market experienced a decline, with the Hang Seng Index falling by 0.79% to 25,952.40 points, the Hang Seng Tech Index down by 1.76%, and the State-Owned Enterprises Index decreasing by 0.92% [1] - Despite the overall market weakness, there was significant net buying from southbound funds, indicating investor interest [1] Fund Flow - The most favored stocks included China National Offshore Oil Corporation, Xiaomi Group, and China Mobile, which saw net purchases of HKD 1.046 billion, HKD 1.002 billion, and HKD 753 million, respectively [1][2] - Alibaba faced a net sell-off of HKD 868 million, highlighting a shift in investor sentiment towards this stock [1][2] Institutional Outlook - Multiple institutions remain optimistic about the long-term prospects of the Hong Kong stock market, with expectations of volatility due to external factors such as U.S. Federal Reserve interest rate policies and a strong U.S. dollar [3] - The AI sector is anticipated to lead the growth of related technology industries in China, positively impacting both A-shares and Hong Kong stocks [3] IPO Activity - Hong Kong's financial market remains vibrant, with an average daily trading volume exceeding USD 32 billion this year, doubling from the previous year [4] - In the first ten months of the year, Hong Kong recorded 80 IPOs, raising over USD 26 billion, ranking first globally in IPO fundraising [4]