港股科技ETF（513020）上一交易日净流入1.36亿，市场关注反内卷政策与AI产业景气传导

Group 1 - The core viewpoint indicates that anti-involution policies will primarily focus on industries such as new energy vehicles and photovoltaics, leading to accelerated mergers, restructuring, and integration rather than administrative capacity reduction [1] - The recent sentiment in the Hong Kong stock market has declined, with the Hang Seng Technology Index experiencing a pullback after reaching the upper range, influenced by strong U.S. economic data, delayed interest rate cuts, a depreciating RMB, and rising long-term interest rates, which have increased pressure on the liabilities of Hong Kong stocks [1] - Looking ahead, high long-term U.S. interest rates may continue to suppress the economy, but the AI capital expenditure wave is expected to support the performance of leading technology stocks in Hong Kong, with high demand in upstream AI computing power and servers likely to persist into the second half of the year, providing a favorable long-term value proposition for the Hang Seng Technology sector [1] Group 2 - The Hong Kong Technology ETF tracks the Hong Kong Stock Connect Technology Index, which is compiled by Guozheng Index Co., Ltd., aiming to reflect the performance of technology industry stocks that can be traded through the Stock Connect mechanism [1] - The index constituents mainly cover high-tech fields such as information technology and healthcare, selecting innovative companies with high growth potential as samples, thereby reflecting the overall trend of the technology sector in the Hong Kong stock market [1] - The industry allocation focuses on technological innovation areas, including cloud computing and biomedicine, providing investors with an efficient tool to invest in leading technology stocks in Hong Kong [1]