Morgan Asset Management's global market strategist Zhou Huantong stated that recently, Hong Kong stocks have been dragged down by external uncertainties, leading to adjustments. At this stage, she is more optimistic about A-shares than H-shares. She expects that the central economic work conference next month will also be a key factor in December. Investors are currently waiting to see if there will be policies to boost consumption, reduce real estate inventory, or even inject capital into state-owned banks. If the policies announced at that time can make the market anticipate sustained economic growth, funds will rotate back to growth stocks in technology and consumption sectors. However, at present, the focus will still be on high dividend yield and defensive domestic banks and telecommunication sectors. She expects that the Federal Reserve will continue to cut interest rates by 0.25% next month, as the authorities still focus on stimulating growth. However, with the uncertainty of the "Trump trade" and the Russia-Ukraine war escalating recently due to Trump's election as U.S. president-elect, Hong Kong stocks have been under pressure to adjust. Zhou Huantong said, "Currently, clients are also comparing the prospects of A-shares and H-shares. She believes that H-shares are more sensitive to external factors, and with mainland retail investors currently enthusiastic about entering the market, coupled with speculation on mainland policies, A-shares are expected to perform better than H-shares." Zhou Huantong also analyzed that technology stocks are currently relatively fairly valued, and consumer stocks are benefiting from the replacement of old with new products and local government debt-to-equity swaps, which are ultimately aimed at stimulating consumption. She believes that both sectors will indirectly benefit. As for real estate stocks, there has been an improvement in property sales, and the effects of policies are beginning to show. Once more data shows sustained recovery, it may be a good time to gradually accumulate industry shares.