恒指微跌0.58%，波动中显现长期布局机遇

Core Viewpoint - The Hong Kong stock market is experiencing volatility, presenting long-term investment opportunities despite short-term fluctuations [1] Market Performance - The Hang Seng Index fell by 0.58%, the Hang Seng Tech Index decreased by 0.77%, and the Hang Seng China Enterprises Index dropped by 0.64% during the midday session, with a trading volume of HKD 127.08 billion [1] - Notable declines in the tech sector include Tencent Music down 12.11%, Kingdee International down 2.37%, and JD Group down 2.17%. Conversely, Hua Hong rose by 1.48% and Baidu Group increased by 0.95% [1] Company Insights - Tencent Music reported a net profit of HKD 2.15 billion for Q3, a year-on-year increase of 36%, although the growth rate of paid users has slowed [1] - Goldman Sachs highlighted Tencent's unique advantage in "AI technology fully empowering business lines," raising its capital expenditure expectations and target price [1] - Alibaba is facing short-term profit pressure, but there are indications of a profitability turning point for Taobao and Tmall, along with growth potential in international cloud services, suggesting that stock price corrections present buying opportunities [1] Industry Trends - AI remains a clear main theme in the Hong Kong stock market, with the internet sector expected to continue benefiting [1] - Guotai Junan Securities anticipates that the Hong Kong stock market may reach new highs in Q4, driven by the deepening narrative of "AI empowerment" and policy support, alongside foreign capital inflows and sustained southbound fund investments [1]