【True Insight Institutional View】NVIDIA's Earnings vs. Fed Hawkishness, Stock Connect Sees 4 Billion Net Outflow Shift to Tencent and Meituan

The tug-of-war between the earnings performance of AI leader Nvidia and global macro monetary policy. Nvidia's revenue guidance significantly exceeded market expectations, not only directly confirming strong demand for AI infrastructure but also becoming the anchor that stabilizes risk sentiment in U.S. stocks, temporarily offsetting investors' concerns about overvaluation in tech stocks. However, macro pressures remain non-negligible. The latest comments from Fed officials show internal vigilance about the pace of inflation decline, with U.S. Treasury yields hovering above 4%, suppressing the market's optimistic imagination of significant interest rate cuts.

Southbound Stock Connect recorded a net outflow of 4.06 billion yuan on Wednesday. Among them, $TENCENT(00700.HK) saw the largest inflow, reaching 820 million HKD; followed by $MEITUAN(03690.HK). $TRACKER FUND(02800.HK) recorded the largest net outflow, at 4.41 billion HKD; followed by $HSCEI ETF(02828.HK).

Source: KGI Securities