0923港股日评：风格切换，港股通银行领涨-20250924

Core Insights - The Hong Kong stock market experienced a collective decline on September 23, 2025, with the Hang Seng Index down by 0.70% to 26,159.12, the Hang Seng Tech Index down by 1.45% to 6,167.06, and the Hang Seng China Enterprises Index down by 0.86% to 9,290.34 [3][6][10] - The market's total trading volume reached HKD 294.56 billion, with southbound funds recording a net sell of HKD 4.069 billion [3][10] - The industrial sector saw a notable shift, with the Hong Kong banking sector (+0.77%) and public utilities (+0.25%) gaining favor, while hardware equipment (-1.84%) and food and beverage (-1.94%) sectors faced declines [6][10] Industry Analysis - The Minister of Industry and Information Technology highlighted new industrial opportunities at the 25th China International Industry Fair, which positively impacted the Hong Kong machinery sector, leading to a strong performance [10] - A significant rotation in market preferences was observed, with defensive sectors like banking and public utilities attracting investment, while previously high-performing sectors like hardware equipment faced profit-taking [10] - Future growth in the Hong Kong market may be driven by AI technology and new consumption trends, with expectations of continued inflows from southbound funds and improved liquidity from potential U.S. interest rate cuts [10]