Core Viewpoint - The Hong Kong stock market experienced a significant rebound, particularly in the technology sector, indicating a potential stabilization after a period of decline [1][3]. Group 1: Market Performance - The Hong Kong Technology 30 ETF (520980) showed a leading performance, suggesting strong momentum in hard technology stocks [2][6]. - The Hang Seng Technology Index remained relatively stable, while the broader Hong Kong Technology sector exhibited slower growth, indicating varying levels of investor confidence [2][6]. - The overall market sentiment appears to be improving, with a notable increase in ETF shares, reflecting market expectations for domestic technology [11][19]. Group 2: External Factors - External factors influencing foreign investment sentiment include high expectations for the overall market environment and technological breakthroughs, which have not materialized as anticipated [5][8]. - In October, foreign active funds saw a net outflow of $10 billion, while passive funds recorded an inflow of $32 billion, indicating a shift in investment strategy towards a more cautious approach [9][19]. Group 3: Future Expectations - There are three main expectations for the future: 1. Anticipation of domestic technology advancements, particularly in semiconductor manufacturing, which could drive market sentiment [13][15]. 2. Continued focus on technological breakthroughs, such as the development of new domestic chip standards [14][15]. 3. Upcoming Q3 earnings reports from leading companies like Tencent, which will be critical for reassessing the market's outlook on technology and AI sectors [15][19]. Group 4: Investment Strategy - The current market position is viewed as a potential mid-term bottom, suggesting that investors may find opportunities for low-cost entry [20][22]. - The Hong Kong Technology 30 ETF is positioned to focus on hard technology, including semiconductors and robotics, differentiating it from other indices that may be more influenced by foreign sentiment [20][22].