Group 1 - The core viewpoint indicates that there has been a notable improvement in foreign capital inflow into the Hong Kong stock market from May to the end of July, with long-term stable foreign capital inflowing approximately 67.7 billion HKD and short-term flexible foreign capital inflowing about 16.2 billion HKD [1] - The expectation of interest rate cuts by the Federal Reserve, driven by disappointing U.S. inflation and employment data, is likely to enhance liquidity conditions, which may further stabilize and improve foreign capital inflow into the Hong Kong market [1] - The valuation of Hong Kong technology stocks is considered attractive, with the Hang Seng Index and Hang Seng Tech PE (TTM) at 11.5 times and 21.4 times respectively, indicating significant room for improvement compared to their 2021 valuation peaks [1] Group 2 - The Hang Seng Index and Hang Seng Tech PE are at historical percentiles of 58% and 20% respectively since 2005, which are lower than major global indices such as the S&P 500 (93%), Germany's DAX (79%), and the UK's FTSE 100 (78%), suggesting that Hong Kong stocks are not overvalued compared to global peers [1] - The Hong Kong stock market is expected to benefit from a stable improvement in foreign capital, which could drive the market upward [1] - The article mentions specific ETFs related to technology, including the Hang Seng Internet ETF and the Hang Seng Technology Index ETF, indicating a focus on technology sector investments [2][3]