China Galaxy Securities pointed out that currently, the main investment line for Hong Kong stocks is short-term restoration of trading and structural defense positions. The core conflict in the market is the expectation of liquidity restoration brought about by the return of capital to the south, and the suppression of valuations by high overseas interest rates. During the week, we need to pay attention to the minutes of the Federal Reserve's September monetary policy meeting and the 10-year US bond auction to find clues about the interest rate path. The mid-term reversal has yet to be confirmed. The market lacks catalytic upward trend, and the rebound is more structural.

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