恒生科技最近怎么了？

Positive Aspects - The performance of AI is strong, and there is anticipation regarding the resolution of the "food delivery war" [2] - The fundamentals of Hong Kong tech stocks remain solid, with the Hang Seng Tech Index closely tied to major companies like Alibaba, Tencent, and Meituan [2] - Recent earnings reports from Alibaba and Tencent show good returns from AI investments, while Meituan's struggles in food delivery have already been priced in by the market [2] - The "food delivery war" impact on companies like Alibaba, JD, and Meituan has likely peaked, with signs of stabilization in stock prices following earnings announcements [2] Negative Aspects - There is a slowdown in capital inflow, with some divergence in foreign investment [3][4] - Southbound capital has seen a net inflow of over 1,292.815 billion yuan this year, but the inflow has decreased in recent weeks [3] - Foreign investment is also net inflowing, but there is a split between active and passive funds, with active funds continuing to see outflows [4] Market Conditions - Attention is needed on the potential interest rate hike by the Bank of Japan, which could lead to a return of funds to Japan and increase liquidity pressure on Hong Kong stocks [7] - The recent rate cut by the Federal Reserve had a muted market reaction, indicating a cautious market sentiment [7] Investment Strategy - Monitoring trading volume is crucial, with a recommendation for dollar-cost averaging as a strategy to navigate current market conditions [8] - The average daily trading volume for the Hang Seng Index this year is 257.998 billion yuan, while the Hang Seng Tech Index averages 79.296 billion yuan [8] - A significant increase in trading volume above 100 billion yuan is necessary for a potential market turnaround, as current sentiment is low [9] - The Hang Seng Tech Index is currently undervalued at a price-to-earnings ratio of 23, indicating potential for future growth if market conditions improve [9]