Group 1 - The Federal Reserve announced a 25 basis point reduction in the federal funds rate target range to 4.00%-4.25%, marking the first rate cut of 2025 and following three cuts in 2024 [1] - Analysts suggest that the global shift towards a rate-cutting cycle may reshape asset pricing logic, potentially increasing global market risk appetite and directing funds towards non-US markets and high-yield assets, creating new investment opportunities [1] - The Hang Seng Tech Index, composed of the 30 largest tech-related companies listed in Hong Kong, currently has a rolling price-to-earnings ratio at the 35th percentile since its launch in 2020, indicating a historical low valuation [1] Group 2 - The recent rate cut may provide a repair window for undervalued assets in the tech sector, prompting a shift of funds from overvalued areas to more attractive investments [1] - The E Fund Hang Seng Tech ETF (513010) has seen a net inflow of over 3.5 billion yuan in the past month, with its product scale surpassing 20 billion yuan, reaching a new high since its inception, facilitating investor access to leading tech stocks in Hong Kong [1]