According to Zhitong Finance APP, STAR 50 ETFs declined collectively. As of press time, PP STAR 50 (03151) fell 4.79% to HK$8.95; Bosera STAR 50 (02832) dropped 4.77% to HK$9.175; Southern STAR Board 50 (03109) declined 4.66% to HK$12.28. As of the A-share market close on October 27, the STAR 50 Index fell nearly 5%.
On the news front, according to market media reports, on October 27, Musk publicly warned that "over the past few weeks, if companies do not have substantial revenue outside of AI data centers, the debt market has almost stopped financing them, and at least 200 new cloud companies face bankruptcy or consolidation." Musk's warning stands in almost direct contrast to Jensen Huang's previous view. Not long ago, Jensen Huang pointed out at the GTC conference that market demand for new cloud far exceeds expectations. Jefferies analysts noted that Musk's remarks triggered a new round of panic trading. Fang Yi of Guotai Haitong Securities believes that after a quarter of adjustment, the forward valuations of some representative companies have fallen to relatively low levels, the bubble risk in the tech sector is not high, and an overall mid-term rally is still expected to emerge. Shen Ye of Guolian An Fund stated that this round of pullback mainly stems from "repricing of forward valuations and digestion of position structures, while industry fundamentals have not seen substantive deterioration"; a barbell balanced strategy is recommended, balancing tech growth offense with dividend low-volatility defense.
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