内外政策交织窗口，港股科技板块蓄势待攻

Group 1 - The Hong Kong stock market showed mixed performance with the Hang Seng Index up by 0.12% at 24,547.08 points, while the Hang Seng Tech Index fell by 0.02% and the National Enterprises Index rose by 0.1% [1] - The technology sector stocks experienced volatility, with cryptocurrency-related stocks gaining strength and innovative drug concepts seeing multiple stocks rise [1] - The Hang Seng Tech Index ETF (513180) followed the index's fluctuations, with leading stocks like Bilibili, Li Auto, Meituan, and JD Health showing significant gains, while Baidu, Xiaomi, and NIO faced declines [1] Group 2 - As of July 16, the latest valuation (PETTM) of the Hang Seng Tech Index ETF (513180) was 20.55 times, which is approximately 11.63% of the valuation since the index was launched on July 27, 2020, indicating that the current valuation is lower than 88% of the time since the index's inception [2] - The Hang Seng Tech sector has returned to a historically undervalued range, with significant capital inflows observed, totaling over 1.6 billion yuan in net inflows over the last 20 trading days [2]