恒指受外部环境影响出现回落，可期待短期修复行情

Market Performance - The Hong Kong stock market fell by 5.09% last week, primarily influenced by the materials, healthcare, and industrial sectors, with the healthcare sector experiencing a significant decline of 8.65%[1] - The telecommunications and utilities sectors showed relative stability, with minor declines of 1.58% and 2.18% respectively, indicating a cautious market sentiment overall[1] - The net inflow of funds through the Hong Kong Stock Connect reached HKD 38.602 billion, suggesting a stabilization in the market as some short positions took profits[1] Investment Environment - Global risk appetite remained cautious, with major asset classes experiencing varying degrees of decline due to uncertainties surrounding the Federal Reserve's policy direction[2] - The Federal Reserve's October meeting minutes revealed significant internal disagreement regarding the policy direction for December, contributing to market uncertainty[2] - A dovish statement from New York Fed President Williams improved market sentiment towards the end of the week[2] Future Outlook - The external environment is expected to improve, potentially leading to a short-term recovery in the Hong Kong stock market, driven by enhanced risk appetite and restored liquidity following the reopening of the U.S. government[3] - The upcoming release of the November CPI data on December 10 is anticipated to clarify the Federal Reserve's decision-making process for December, maintaining a level of uncertainty until then[3] - The overall liquidity situation is improving, as indicated by a decrease in the U.S. Treasury General Account balance, which suggests an influx of liquidity into the market[3]