ETF与成份股交易时间不同，投资者利益为何不受影响

Group 1 - The Hong Kong stock brokerage sector has shown strong performance, with the Hong Kong Securities ETF price rising by 8.51% and the Hong Kong Securities Index increasing by over 2% during the trading hours [1][2] - The difference in trading hours between A-shares and Hong Kong stocks leads to temporary discrepancies in ETF prices and index performance, but these differences do not significantly impact investor interests [1][2] - The ETF's net asset value is calculated based on the closing price after 4 PM, ensuring that the next trading day's opening price reflects the fair value [1][2] Group 2 - The Hong Kong brokerage sector's strong performance this year is attributed to improved market liquidity, with the average daily trading volume increasing by 111% year-on-year [3][4] - A new wave of listings, including the return of Chinese concept stocks and accelerated A+H share issuances, is enhancing market activity and benefiting brokerage investment banking businesses [4] - The absence of price limits in the Hong Kong market allows for significant single-day price increases, which can lead to substantial gains for related stocks [4] Group 3 - The Hong Kong Securities ETF (513090) is the only product tracking the Hong Kong Securities Index, offering T+0 trading and a low management fee of 0.15% per year, with an average daily trading volume exceeding 5 billion yuan in the past month [4] - On June 25, the Hong Kong Securities ETF achieved a record single-day trading volume of 27.1 billion yuan, marking the highest since its listing [4]