Hong Kong Stock Market Review: The fat water does not flow into the field of outsiders

The Hong Kong stock market has been affected by expectations of interest rate cuts and a surge in tech stocks, similar to the vulnerability of US small-cap stocks. However, the inflow of funds into the US stock market is mainly focused on tech stocks like big tech companies and XBI, with limited inflow into Chinese assets. The stock market needs to be vigilant against the potential trading downturn caused by delayed interest rate cuts. On the other hand, Tencent's suspension of share buybacks has led to poor performance in the Hong Kong stock market, while the mobile phone supply chain remains a bright spot in the market. Global mobile phone shipments have increased by 6.5% year-on-year, showing a trend of recovery. Personal computer shipments have also increased, but domestic demand is not strong, geopolitical risks are on the rise, and the stock market still relies on high interest rates and share buybacks for support