两大利好来袭！美联储大放鸽声，港股强势表现！香港大盘30ETF（520560）盘中拉升1%，近4日吸金3161万元

Core Insights - The Hong Kong stock market showed strong performance in early trading, driven by the "technology + dividend" strategy of the Hong Kong Large Cap 30 ETF (520560), which saw a price increase of over 1% during the session [1] - The ETF has experienced a net inflow of funds totaling 31.61 million yuan over the past four days, indicating positive sentiment towards the future performance of Hong Kong stocks [1] - Alibaba reported a 34% year-on-year growth in cloud revenue and has achieved triple-digit year-on-year growth in AI-related product revenue for nine consecutive quarters [3] Group 1: Market Performance - The Hong Kong Large Cap 30 ETF (520560) is actively traded, with a current price increase of 0.94%, marking three consecutive days of gains [1] - The ETF's significant premium in the market reflects strong buying interest, with a total net inflow of 31.61 million yuan over the last four days [1] - Major stocks contributing to the ETF's performance include Meituan, which rose over 6%, and others like ZTO Express and BYD, which saw increases of over 3% and 2%, respectively [1] Group 2: Economic Factors - The Federal Reserve's dovish stance is a key factor, with expectations of a 25 basis point rate cut in December at a probability of 84.9% [2] - The anticipated rate cut is expected to weaken the US dollar, which could lead to lower Hong Kong dollar interest rates and attract foreign capital back to the market, enhancing liquidity [2] - Current conditions differ from previous rate cut cycles, as corporate profits are still rising and the global economy remains stable, which is favorable for the Hong Kong stock market [2] Group 3: Company Insights - Alibaba's capital expenditure for the quarter was 31.5 billion yuan, with a total of approximately 120 billion yuan spent on AI and cloud infrastructure over the past four quarters [3] - The ongoing investment in AI infrastructure by Alibaba signifies a steady progress towards self-sufficiency in domestic computing power, potentially marking an industry turning point [3] - The valuation of the Hong Kong Large Cap 30 ETF (520560) is currently at a PE ratio of 10.25, which is 64.77% of its historical range, indicating a favorable valuation with a higher margin of safety [3]