恒指高开0.49%，港股震荡上行趋势不改

Core Viewpoint - The Hong Kong stock market, particularly the technology sector, is experiencing short-term adjustments but maintains a long-term upward trend, presenting strategic investment opportunities for investors. Group 1: Market Performance - On November 6, the Hang Seng Index opened up by 0.49%, and the Hang Seng Tech Index rose by 0.63% [1] - Stocks related to power grid equipment, charging piles, and energy storage continue to perform strongly, with companies like Hua Hong Semiconductor and SMIC rising over 2% [1] Group 2: Monetary Policy Impact - The Federal Reserve's initiation of a rate-cutting cycle is driving global capital reallocation, making the Hong Kong stock market an important destination for excess liquidity due to its offshore characteristics and undervaluation [2] - The technology sector, being sensitive to interest rates, is expected to attract significant capital [2] Group 3: AI and Industry Transformation - AI technology is undergoing comprehensive breakthroughs from hardware self-research to commercial applications, significantly restructuring the fundamentals of Hong Kong tech companies [3] - The surge in cloud services and model demand validates the commercial potential, providing a new narrative for sustained growth in the sector [3] Group 4: Valuation and Investment Appeal - The convergence of southbound funds and foreign capital is focusing on Hong Kong technology stocks, which are significantly undervalued compared to major global tech indices [4] - The unique risk-reward ratio, supported by AI growth expectations and the rate-cutting environment, highlights the investment value in this sector [4] Group 5: Related ETFs - The Hong Kong Stock Connect Technology ETF (159101) covers the entire technology industry chain [5] - The Hang Seng Internet ETF (513330) focuses on leading internet companies [5]