120亿！南向单日流入阶段新高，港股蓄势待发

Group 1 - The core viewpoint is that the competition among Meituan, Alibaba, and JD in the food delivery sector is intense, leading to significant stock price pressure, with Meituan's stock nearly halving from its peak, JD's stock dropping below its April low, and Alibaba approaching its yearly low, indicating a "three defeats all hurt" scenario [1] - On July 7, net purchases of Hong Kong stocks exceeded 12 billion, marking the first time since May 27 that net purchases surpassed 10 billion, suggesting a potential bottom-fishing opportunity for tech leaders in Hong Kong [1][3] - Analysts predict a potential "valuation repair" and "earnings growth" for the Hang Seng Tech Index from 2025 to 2027, indicating a favorable time to position for this upward movement [3] Group 2 - The Hong Kong Tech 50 ETF (159750) tracks the Hong Kong Tech Index and has seen over a 24% increase this year, with significant growth in scale since early March [5] - As of July 7, the latest P/E ratio for Hong Kong tech is 20.27, which is at a low historical percentile, suggesting it is cheaper than 97% of the time in the past decade, indicating a strong willingness for southbound capital to invest at low levels [6] - The Hong Kong Dividend Low Volatility ETF (520550) has shown resilience during market fluctuations, achieving a 19% increase since its inception on January 15, 2025, and has attracted significant net inflows recently [10][12] Group 3 - The ETF structure allows for monthly dividend assessments, with a maximum of 12 cash inflows per year, supporting reinvestment and providing a cost advantage for long-term holding [12] - A strategy of building positions in the Hong Kong Tech 50 ETF (159750) while using the Hong Kong Dividend Low Volatility ETF (520550) as a defensive measure may help mitigate short-term risks while capitalizing on potential tech sector gains [14]