港股开盘 | 担忧AI泡沫！亚太股市集体下挫 恒生指数低开近1%

Market Overview - Legendary investors have significantly shorted AI growth stocks, leading to a sharp decline in US stocks and a collective drop in Asia-Pacific markets, with South Korea's market falling over 5% and triggering a trading halt [1] - Hong Kong's three major indices opened lower, with the Hang Seng Index down 0.97%, the Hang Seng Tech Index down 1.75%, and the National Enterprises Index down 1.07% [2] Sector Performance - Technology stocks, particularly in the AI and software sectors, experienced widespread declines, with companies like SMIC falling over 2% [3] - Despite the downturn, some companies like Giant Legend opened higher by 3.61% after announcing a significant order worth over 100 million yuan [4] Investment Insights - Analysts suggest that Hong Kong's stock market, particularly the Hang Seng Tech Index, remains undervalued compared to historical averages, indicating potential for valuation recovery [5] - The market is primarily driven by liquidity, with external liquidity uncertainties likely leading to short-term fluctuations [5] - Long-term prospects appear positive, with expectations of capital inflows from both southbound and foreign investments as the US enters a rate-cutting cycle [5][6] - The AI sector is anticipated to catalyze improvements in net asset return rates (ROE) for related stocks, potentially lifting market valuations [6] Future Projections - Morgan Stanley predicts that Hong Kong's stock market will continue to benefit from multiple favorable factors, with the current valuation still relatively low [8] - The market is expected to see a significant inflow of southbound funds, with estimates suggesting over 1.5 trillion yuan could flow into Hong Kong stocks next year [7] - Analysts highlight the importance of AI, new consumption, and innovative pharmaceuticals as key areas for investment in the upcoming market cycle [9] Company News - Companies like Seris have seen strong demand, with their public offering being oversubscribed by 132.68 times, indicating robust investor interest [12] - Yum China reported a total revenue of $8.974 billion for the first nine months, reflecting a year-on-year growth of 3% [13] - Yuexiu Property achieved a cumulative contract sales figure of 92.102 billion yuan in the first ten months, up approximately 1.2% year-on-year [14]