CITIC Securities released a research report saying that global macro liquidity has shown a tightening trend, the extreme style of leading technology in the global stock market is showing signs of loosening, and global stock market fluctuations may increase in the future. In this round of adjustments, the rapid increase in the supply of AI-related long-term bonds and credit risk repricing are mutually reinforcing, and market concerns about AI commercialization space have become apparent. If the AI investment cycle turns downward, interest rates on long-term US bonds will fall at the same time, and domestic demand assets represented by Hong Kong stocks may receive more financial attention; when the technology game intensifies and there are concerns about external demand, Chinese assets will instead continue to increase attention to pure domestic demand varieties, especially Hong Kong stocks, in a weak environment.

CITIC Securities released a research report saying that global macro liquidity has shown a tightening trend, the extreme style of leading technology in the global stock market is showing signs of loosening, and global stock market fluctuations may increase in the future. In this round of adjustments, the rapid increase in the supply of AI-related long-term bonds and credit risk repricing are mutually reinforcing, and market concerns about AI commercialization space have become apparent. If the AI investment cycle turns downward, interest rates on long-term US bonds will fall at the same time, and domestic demand assets represented by Hong Kong stocks may receive more financial attention; when the technology game intensifies and there are concerns about external demand, Chinese assets will instead continue to increase attention to pure domestic demand varieties, especially Hong Kong stocks, in a weak environment.