美联储降息施压升级，高弹性港股互联网ETF（513770）上探1．8%，阿里巴巴涨超3%

Market Performance - The Hong Kong stock market showed a strong upward trend on July 11, with major tech stocks rising, including SenseTime-W up by 6%, Alibaba-W and Alibaba Health up over 3%, and Meituan-W, Bilibili-W, Xiaomi Group-W, and Kuaishou-W up over 2% [1] - The Hong Kong Internet ETF (513770) opened flat but continued to rise, showing an increase of 1.79% during the morning session [1] Investment Outlook - Goldman Sachs indicated that the Hong Kong stock market is expected to benefit significantly from the Federal Reserve's easing cycle and a weaker US dollar, upgrading its rating on Hong Kong stocks to "hold" [3] - Huatai Securities noted that the current Hong Kong tech sector is at a convergence of "valuation trough" and "industry transformation," highlighting the increasing investment value due to the synergy of capital, policy, and technology [3] - Guosen Securities emphasized that the Hong Kong tech sector is at the peak of the AI innovation wave, predicting that the next 3-4 years will be crucial for the application and monetization of AI technology [3] ETF Performance - The Hong Kong Internet ETF (513770) and its linked funds heavily invest in the "ATM" trio (Alibaba, Tencent, Xiaomi), with a combined weight of 61.06%, making it a significant tool for AI investment in Hong Kong [3] - Since the start of the current market rally until the end of June, the CSI Hong Kong Internet Index has seen a cumulative increase of over 28%, outperforming the Hang Seng Index and the Hang Seng Tech Index during the same period [3][4] Trading Data - As of June 30, 2025, the average daily trading volume of the Hong Kong Internet ETF (513770) was 594 million yuan, indicating good liquidity and support for intraday T+0 trading [5]