Mei Ri Jing Ji Xin Wen·2025-06-09 03:29Group 1 - The Hang Seng Technology Index opened strong on June 9, with the Hang Seng Technology Index ETF (513180) following suit, driven by significant gains in stocks like Kingdee International, Tencent Music, Kuaishou, Meituan, JD Group, SMIC, and SenseTime [1] - The Hang Seng Index has added Midea Group and ZTO Express, while the Hang Seng Technology Index has included BYD and removed Reading Group [1] - Tencent Holdings has been actively repurchasing its shares, with a total buyback amount reaching HKD 75.07 billion over 15 trading days, and a total of HKD 285.33 billion in buybacks for the year to date [1] Group 2 - Companies often initiate stock buybacks when they believe their valuations are significantly undervalued by the market, which helps support stock prices and improve financial conditions [2] - The recent increase in stock buyback activity among Hong Kong-listed companies is attributed to their perception of being undervalued, with the Hang Seng Technology Index's latest P/E ratio at 20.72, indicating it is below 80% of its valuation over the past three years [2] Group 3 - The Hong Kong stock market is seeing a convergence of hard technology and new consumption, with the Hong Kong Consumption ETF (513230) covering e-commerce and new consumption sectors, which are relatively scarce compared to A-shares [3] - The Hang Seng Technology Index ETF (513180) includes both soft and hard technology, encompassing technology leaders that are also relatively scarce in A-shares [3]