Core Viewpoint - The current Hong Kong stock market is experiencing an improvement in liquidity, characterized by a "resonance" between domestic and foreign capital [1] Group 1: Market Dynamics - The market anticipates that the Federal Reserve is entering a rate-cutting cycle, which provides conditions for a shift in international capital flows [1] - Southbound capital acts as a "stabilizer," providing incremental funding support for the Hong Kong stock market [1] - The combination of these factors is driving a steady increase in liquidity levels in the Hong Kong stock market [1] Group 2: Investment Sentiment - Continuous large-scale inflows of capital into the Hong Kong stock market are the result of multiple factors, including valuation attractiveness, liquidity expectations, and asset scarcity [1] - This reflects the current investment value of the Hong Kong stock market and reveals deeper funding flow logic [1] - The situation releases multiple positive signals regarding the market's potential [1]