Mei Ri Jing Ji Xin Wen·2025-11-25 04:24Group 1 - The Hang Seng Index rose by 0.61%, the Hang Seng Tech Index increased by 1.15%, and the Hang Seng China Enterprises Index climbed by 0.75% during the midday session, with a market turnover of HKD 133.003 billion [1] - In the technology sector, Bilibili surged by 5.12%, with Kango Bio, Xiaomi, and Alibaba rising over 4%, while Baidu Group increased by 3.22% and Kuaishou by 2.55%. On the downside, Kingdee International fell by 1.46%, Midea Group by 1.13%, and JD Group by 0.44% [1] - The influx of southbound funds reached a record HKD 1.3 trillion by 2025, with a significant increase in the technology sector's share, making it a core focus for domestic investors in Hong Kong stocks [1] Group 2 - The influx of funds is supported by a loose liquidity environment, with the one-year fixed deposit rate in China dropping to a historical low of 0.95%. The trend of "activating" deposits is evident, with M1 year-on-year growth reaching 7.2% in September [2] - A total of CNY 1.3 trillion in resident demand deposits shifted to the capital market during July and August, indicating a strong movement towards investment [2] - The trend of "de-dollarization" globally has led to a rapid increase in the allocation of funds from Asia-Pacific (excluding Japan) to the Chinese market, enhancing the valuation recovery of Hong Kong's technology sector [2]