According to Jinshi Data on September 27, while favorable policies have driven the A-share market to rise sharply, the Hong Kong stock market has also seen a general rise recently. The previous rise driven by the Fed's interest rate cut is still continuing. Industry insiders believe that in the short term, Hong Kong stocks are more flexible than A-shares due to their sensitivity to external liquidity and Hong Kong's follow-up interest rate cuts. However, it is not advisable to extrapolate short-term elasticity too linearly in the medium term. In terms of future market allocation, it is recommended to pay attention to interest rate sensitive industries and industry sectors with relatively stable ROE or ROE expected to usher in a bottom inflection point.