聚焦AI长期叙事，机构长线看好港股

Core Viewpoint - Recent market sentiment has weakened primarily due to tightening overseas liquidity expectations, but dovish statements from Federal Reserve officials have boosted market sentiment, leading to a rebound in the Hong Kong stock market [1] Market Performance - The Hang Seng Index, Hang Seng Tech Index, and Hang Seng Biotech Index all rose over 2% during the rebound [1] - Key sectors driving the rebound include consumer, technology, and pharmaceuticals [1] - Notable stock performances include GAC Group rising over 10%, with other significant gainers being Li Auto, Kuaishou, Alibaba, Hengrui Medicine, and NIO [1] Market Outlook - Changjiang Securities indicates that the Hong Kong stock market is expected to experience short-term fluctuations while awaiting renewed expectations for Federal Reserve interest rate cuts and clarity on the long-term narrative of AI [1] - In the medium to long term, economic growth is shifting from traditional demand-side stimulus to supply-side innovation, driven by the "14th Five-Year Plan" promoting the transformation of new and old growth drivers [1] Related ETFs - Hong Kong innovative drug industry: Hang Seng Pharmaceutical ETF (159892) [1] - Hong Kong market AI theme: Hang Seng Technology Index ETF (513180) [1] - "Self-Care Economy" new consumption: Hong Kong Consumer ETF (513230) [1]