Market Overview - The market has experienced increased volatility, with fixed income plus funds regaining focus as a key marketing product [1] - On November 26, A-shares showed mixed performance, with the Shanghai Composite Index closing down 0.15% at 3864.18 points, while the Shenzhen Component Index rose 1.02% to 12907.83 points, and the ChiNext Index increased by 2.14% to 3044.69 points [1] Fund News - On November 26, four new funds were launched, primarily bond and mixed funds, with 30 funds distributing dividends, the highest being 9.00 CNY per 10 shares for the Guotai Nasdaq 100 Index Fund [2] - Over the past three months, the Shanghai Composite Index fluctuated between 3800 and 4000 points, leading to investor sentiment swinging with the index [2] - Hong Kong stocks have been oscillating at high levels, with a net outflow of 3.95 billion HKD on the same day, ending an eight-day buying streak, but the cumulative net inflow for the year has reached 1.38 trillion HKD [2] ETF Insights - On November 26, the CPO concept stocks surged, with the Southern AI ETF rising by 5.06%, and Zhongji Xuchuang increasing by over 13.25% [3] - The Hong Kong Internet ETF rose by 0.74%, with Meituan shares increasing by 5.65% following Alibaba's Q2 FY2026 earnings report, which exceeded market expectations with revenues of 247.795 billion CNY, a 15% year-on-year growth after excluding sold businesses [3] Fund Performance - On November 26, the best-performing fund was the Hongtu Innovation Technology Innovation Stock (LOF) with a daily growth rate of 5.8721% [6] - The top-performing stock fund was Hongtu Innovation New Technology Stock C with a daily growth rate of 5.8359%, while the top bond fund was Jingshun Great Wall Jingyifengli Bond F with a growth rate of 0.7194% [6][7]

Core Viewpoint - The Hong Kong internet sector stocks have shown strong performance, with notable gains in companies such as Bilibili, Xiaomi, Meitu, Alibaba Health, and Kuaishou, indicating a positive market sentiment towards the sector [1] Group 1: Stock Performance - Bilibili-W increased by over 5%, while Xiaomi Group-W and Meitu Company rose by over 4%, and Alibaba Health and Kuaishou-W gained over 3% [1] - The Hong Kong internet-related ETFs also experienced a rise of over 2% [1] Group 2: Market Sentiment and Economic Factors - Institutions suggest that the marginal improvement in macro expectations and favorable policies are boosting risk appetite in the Hong Kong equity market, particularly in the internet sector [2] - The expectation of a Federal Reserve interest rate cut and other factors may lead to a further decline in the US dollar index, improving global financial conditions [2] - This environment is expected to enhance the attractiveness of the Hong Kong market to foreign capital, especially with the potential appreciation of Asian currencies, particularly the Renminbi [2]