智通财经网·2025-12-16 05:50Group 1 - The Hang Seng Tech Index declined nearly 3% in the afternoon, with Alibaba-W (09988) down 4.37% to HKD 142.1, SMIC (00981) down 3.63% to HKD 62.35, and Tencent (00700) down 1.74% to HKD 592.5 [1][1][1] - Recent liquidity factors and a pullback in the US AI sector have put pressure on market sentiment in Hong Kong. Dongwu Securities reports that southbound funds are adopting a defensive stance, waiting for opportunities to invest aggressively after the year-end [1][1][1] - The consensus for a strong policy opening in Q1 is prevalent, with optimism not only in technology but also in the metals sector. In the medium to long term, valuations of Hong Kong's AI tech leaders are considered reasonable, and a rebound in the Hang Seng Tech Index is expected with new policies or industry catalysts [1][1][1] Group 2 - The Bank of Japan is set to hold a monetary policy meeting on December 18-19, with expectations to raise the current policy rate from 0.5% to 0.75%, marking the highest level in 30 years since 1995 [1][1][1] - Galaxy Securities indicates that the Bank of Japan's interest rate hike could be a significant consideration for the Hong Kong stock market. However, the technology sector remains a key investment theme in the medium to long term, with potential for rebound following previous adjustments and multiple favorable factors [1][1][1]