[CICC: The Fed is about to cut interest rates, and Hong Kong stocks are more flexible than A-shares] According to CICC Strategy, the upcoming FOMC meeting of the Federal Reserve next week is undoubtedly the focus of global investors. Hong Kong stocks are more flexible than A-shares because they are sensitive to external liquidity and Hong Kong follows the interest rate cut under the linked exchange rate arrangement. At the industry level, growth stocks that are sensitive to interest rates (biotechnology, technology hardware, etc.), sectors with a high proportion of overseas US dollar financing, local dividends of Hong Kong stocks and even real estate, as well as export chains that benefit from the US interest rate cut to boost real estate demand, may also benefit marginally. But overall, before seeing greater fiscal support, the structural market with a wide range of fluctuations is still the main line. (Reprinted from: Jinshi Data)