Galaxy Securities: Expectations for Fed rate cut decrease, Hong Kong stocks may continue to fluctuate.

Galaxy Securities pointed out that looking to the future, global geopolitical risks still exist, the market's expectations for a rate cut by the Federal Reserve have decreased, and it is expected that the Hong Kong stock market will continue to fluctuate. In terms of allocation, it is recommended to focus on the following sectors: the technology sector remains the main investment theme in the medium to long term. With multiple positive factors such as rising prices in the industry chain, domestic substitution, and accelerated AI applications, it is expected to fluctuate upwards. Geopolitical situations are unpredictable, and sectors such as energy and precious metals are expected to fluctuate upwards. The consumer sector is currently at a relatively low valuation, and with the approach of the Chinese New Year, policies promoting consumption are expected to increase, leading to a rebound in the consumer sector.