银河证券：港股或窄幅震荡

Group 1 - The core viewpoint indicates that the Federal Reserve's expectation for interest rate cuts in the short term has decreased, leading to increased geopolitical uncertainty which will affect investor risk appetite, resulting in a forecast of narrow fluctuations in the Hong Kong stock market [1] Group 2 - The technology sector is expected to remain a long-term investment focus, benefiting from multiple positive factors such as price increases in the supply chain, domestic substitution, and accelerated AI application [1] - The consumer sector is likely to continue benefiting from policy support, with current valuations at relatively low levels, indicating significant medium to long-term upside potential; future attention should be paid to the implementation of policies and improvements in consumer data [1] - Due to escalating geopolitical tensions, safe-haven assets like precious metals are expected to benefit [1]