Group 1 - The total scale of cross-border ETFs has surpassed 900 billion yuan, reaching 903.3 billion yuan, with a year-to-date increase of 113% from 424 billion yuan at the beginning of the year, indicating strong investor interest in cross-border investment opportunities [1] - Southbound funds have cumulatively net purchased over 5 trillion Hong Kong dollars in stocks, with a net purchase of 6.654 billion Hong Kong dollars on November 10, contributing to a total net inflow of over 1.3 trillion Hong Kong dollars this year [1] - The largest share of cross-border ETFs is in the Hong Kong market, accounting for 74.69% of the total, with a scale of 676.4 billion yuan, followed by the US market at 17.72% with 160.5 billion yuan [1] Group 2 - The top 20 cross-border ETFs include the Hong Kong Internet ETF with the highest net asset value of 84.8 billion yuan, followed by the Hang Seng Technology Index ETF, Hang Seng Technology ETF, and China Concept Internet ETF, each exceeding 40 billion yuan [2] - The Hang Seng Index and Hang Seng Technology Index have both gained over 30% this year, showcasing strong performance among major global indices [2] - The Hong Kong market has experienced rapid sector rotation, focusing on growth-oriented sectors with strong earnings and price elasticity [2] Group 3 - Long-term outlook for the Hong Kong market is optimistic, with expectations of a recovery driven by improved supply-demand dynamics, AI technology advancements, easing US-China tensions, and supportive monetary policies [3] - The capital expenditure and R&D investments in the technology sector are expected to translate into corporate profits, serving as a new growth engine [3] - The combination of improved fundamentals, upward revisions in profit expectations, and valuation recovery is anticipated to drive a slow bull trend in the Hong Kong market [3] Group 4 - The US stock market is expected to continue its upward trend, driven by strong economic growth supported by macro policies such as interest rate cuts, tax reductions, and regulatory easing [4] - Investment in artificial intelligence is propelling technological prosperity, contributing positively to the US market [4] - The recent rise in US stocks is primarily driven by sustained profit growth rather than speculative bubbles, indicating a healthy market environment [4]