市场策略|点评报告：海外策略：恐慌情绪已现，或迎布局时点

Core Insights - The report indicates that the recent decline in Hong Kong stocks, particularly the Hang Seng Technology Index, which fell by 5.1% and the Hang Seng Index by 7.2%, reflects a state of market panic, suggesting a potential opportunity for investment [2][6][7] - The Fear and Greed Index for both the Hang Seng Technology Index and the Hang Seng Index is currently at historical lows, indicating a possible short-term recovery in market sentiment [7][8] Market Analysis - The decline in the Hong Kong market is attributed to several factors: 1. Unexpected growth in U.S. employment numbers alongside a rise in the unemployment rate to a four-year high, leading to uncertainty regarding the Federal Reserve's interest rate decisions [7] 2. Concerns over high asset prices potentially leading to market corrections, which has dampened trading sentiment in the Asia-Pacific region [7] - The report notes that the technology sector has been particularly hard hit, with the Hang Seng Technology Index underperforming compared to other indices [7] Future Outlook - The report anticipates a "slow bull" market trend due to: 1. The onset of a Federal Reserve rate-cutting cycle, which may lead to a more accommodative global liquidity environment [8] 2. Continuous support for the domestic technology sector through policy initiatives, which could attract long-term capital and enhance market activity [8] - Investment strategies suggested include: 1. Focusing on emerging technology sectors such as AI and robotics, which are at a critical commercialization phase [8] 2. Identifying scarce resources that may benefit from valuation premiums due to shifts in energy transition and geopolitical factors [8] 3. Monitoring sectors like insurance and brokerage, which may see increased activity as low-interest rates encourage more equity investments [8]