港股、海外周观察：港股和美股在跌什么？

Group 1 - The report suggests that the Hong Kong stock market is at a rebound stage, with attractive long-term positioning [1] - There is a cautious approach from southbound funds, with a consensus for a strong policy opening in Q1 next year, particularly favoring non-ferrous metals and technology sectors [1][2] - The report emphasizes the need for controlling positions in the Hong Kong market and preparing for a rebound by selecting technology growth stocks [1] Group 2 - In the US market, the Nasdaq fell by 1.6%, while the S&P 500 and Dow Jones experienced declines of 0.6% and an increase of 1.0%, respectively [1] - The Federal Reserve's recent interest rate cut has led to increased internal divisions regarding future rate cuts, with some officials expressing caution [2][3] - Employment pressures are evident, with initial jobless claims rising to 236,000, indicating potential economic uncertainty [3] Group 3 - Concerns regarding the technology sector have intensified, particularly following disappointing earnings reports from Oracle and Broadcom, which have raised doubts about the AI market's growth potential [5] - The report indicates that the US stock market is expected to remain on an upward trajectory driven by economic fundamentals and corporate earnings resilience [6] - The report highlights that the current rapid rise in US stocks is primarily due to sustained profit growth rather than speculative behavior [6] Group 4 - The report notes that global stock ETF inflows have slowed, with a net inflow of $24.644 billion and marginal outflows of $9.149 billion [8] - Emerging markets saw a 0.3% increase, while developed markets experienced a 0.2% decline [8] - The report identifies that the materials, utilities, and technology sectors saw the highest net inflows, while financials and consumer staples faced the most significant outflows [8]