极简复盘：七大要点看25年2月主要变化

Key Points - The article highlights the significant performance of Hong Kong stocks, which led global asset classes in February 2025, driven by the DeepSeek technology revaluation and a rotation in A-share technology stocks [2][8] - China's economic fundamentals showed improvement in January, with the manufacturing PMI returning to the expansion zone at 50.2, indicating a positive trend [10] - The technology sector is experiencing a "spring surge," characterized by a calendar effect that historically leads to strong market performance post-Chinese New Year [12][13] - TMT (Technology, Media, and Telecommunications) sector transaction volume has exceeded 40%, indicating a shift in market sentiment and potential for performance driven by fundamental expectations rather than just emotional indicators [17] - DeepSeek has emerged as a new catalyst in the technology sector, potentially leading to a global re-evaluation of Chinese technology stocks and advancements in artificial intelligence [18] - Investment strategies in the technology sector should focus on "low-position growth branches" and companies expected to deliver performance in 2025 [19] - The Hong Kong stock market has seen a significant rally, with the Hang Seng Technology Index rising over 6% on February 21, 2025, following positive earnings reports from Alibaba and government support for AI initiatives [20][21]