机构称港股处在布局区，聚焦恒生ETF（159920）、恒生国企ETF（159850）低位抢筹窗口

Market Performance - The Hong Kong stock market indices collectively turned negative near midday, with the Hang Seng Index and the Hang Seng China Enterprises Index dropping by 1.1% and 1.15% respectively, with the Hang Seng Index losing nearly 300 points and falling below 26,000 points [1] - The Hang Seng Tech Index decreased by 0.24%, despite having previously surged by 0.8% during the session [1] - Major technology stocks showed weak performance, while Chinese brokerage and insurance stocks remained strong due to favorable industry news [1] Sector Analysis - Non-ferrous metal stocks, including copper, aluminum, and gold, exhibited collective weakness, while oil and banking stocks also faced downward pressure [1] - Popular ETFs, such as the Hang Seng ETF (159920) and the Hang Seng China Enterprises ETF (159850), continued to decline, each dropping over 1%, opening up low-position investment opportunities [1] Economic Insights - Huatai Securities noted that the recent acceleration in the appreciation of the RMB is a positive highlight in domestic economic and financial data [1] - The firm argued that the common belief that currency appreciation pressures export companies' stock prices is not supported by data; instead, moderate appreciation is beneficial for corporate performance amid current capital flow trends, a low real effective exchange rate, and inflation differentials between China and other countries [1] - The company reiterated that the Hong Kong stock market is in a positioning phase, suggesting short-term focus on liquidity turning points and sectors that have seen significant adjustments and diminishing negative pressures, particularly in technology and pharmaceuticals, while also identifying alpha opportunities in consumer goods [1]