0922港股日评：港股蓄势，回调迎新机-20250922

Group 1 - The core viewpoint of the report indicates that the Hong Kong stock market is experiencing a pullback, with the Hang Seng Index down by 0.76% to 26,344.14, and the Hang Seng Technology Index down by 0.58% to 6,257.91, primarily due to macroeconomic factors including the Federal Reserve's interest rate decision [5][8] - On September 22, 2025, the total trading volume in the Hong Kong stock market reached HKD 290.54 billion, with net inflows from southbound funds amounting to HKD 12.736 billion [8] - The report highlights that the recent interest rate cuts by the Federal Reserve and the Hong Kong Monetary Authority, which were already anticipated by the market, did not significantly boost market sentiment [8] Group 2 - In terms of sector performance, the report notes that the electronics sector led gains with an increase of 1.85%, while the defense and military industry saw a decline of 2.59% [5][8] - The report identifies that the automotive sector's sentiment has weakened due to news of overseas shareholder reductions, impacting overall market performance [8] - Future potential for the Hong Kong stock market to reach new highs is suggested in three areas: AI technology and new consumption, continued inflows from southbound funds, and improved global liquidity from potential further rate cuts by the U.S. [8]