China Galaxy Securities: In terms of Hong Kong stock investment strategy, three main lines should be grasped.

China Galaxy Securities stated that in terms of Hong Kong stock investment strategy, three main lines should be grasped: This week, caught between interest rate disturbances and the fading AI trade, the core principle is not to stay out of the market and not to be heavily positioned in a single direction, because interest rate disturbances and industry catalysts will both be present next week, and the market is highly likely to continue structural rather than a one-sided trend. Recommendations: 1. Low-volatility dividend stocks. This week, southbound funds interrupted seven consecutive weeks of net inflows and turned to net selling of HK$6.637 billion, with capital clearly shifting to defense. On October 15, bank stocks bucked the trend and hit new highs, gold stocks strengthened in tandem, and high-dividend sectors such as utilities and telecommunications attracted safe-haven buying. It is recommended to continue using banks, utilities, telecommunications, and energy as defensive base positions. 2. Innovative drugs and the CXO sector. 3. The technology sector. The technology main line is about timing rather than heavy positioning, and it is necessary to wait for short-selling sentiment to recede and signals of southbound capital returning.