港股三大指数集体低开，恒生科技指数ETF（513180）跌超1%

Group 1 - The Hong Kong stock market opened lower on July 4, with the Hang Seng Index down 0.7% at 23,900.69 points, and the Hang Seng Tech Index and the Hang Seng China Enterprises Index also declining by 0.75% and 0.73% respectively [1] - The technology sector is highlighted as having significant investment value, with foreign capital continuously increasing its allocation to the information technology sector, reflecting long-term confidence from international investors [1][2] - The Hang Seng Tech Index has undergone nearly a quarter of adjustment, with its latest valuation (PETTM) at 19.86 times, which is below 92% of the time since the index was launched on July 27, 2020, indicating potential for future price increases [2] Group 2 - The current market sentiment is improving, and liquidity is abundant, providing a solid foundation for the next phase of growth in the Hong Kong technology sector, awaiting catalysts related to technology narratives [2] - The adjustment in the technology sector has led to a moderate level of crowding, combined with positive signals from the funding side, suggesting a relatively large upward elasticity space, which may become a key driver for the next upward trend [1]