The structure of the Hong Kong stock market was clearly divided in October. Wind data showed that the Hang Seng Technology Index fell 11.73% in a single month, fluctuations in the technology growth sector increased, and there was a phased net outflow of southbound capital during the same period. According to the November strategy of many brokerage firms, as valuation pressure is released and overseas interest rate disturbances are gradually digested, the subsequent performance of Hong Kong stocks will depend more on improving corporate profits and matching valuations. The market focus is shifting from thematic expectations to profit fulfillment, and style rebalancing and structural opportunities have become a consensus.

The structure of the Hong Kong stock market was clearly divided in October. Wind data showed that the Hang Seng Technology Index fell 11.73% in a single month, fluctuations in the technology growth sector increased, and there was a phased net outflow of southbound capital during the same period. According to the November strategy of many brokerage firms, as valuation pressure is released and overseas interest rate disturbances are gradually digested, the subsequent performance of Hong Kong stocks will depend more on improving corporate profits and matching valuations. The market focus is shifting from thematic expectations to profit fulfillment, and style rebalancing and structural opportunities have become a consensus.