关注港股科技ETF（513020）投资机会，南向资金回暖与AI驱动开启配置窗口

Core Viewpoint - Current southbound capital inflow momentum is recovering, suggesting that Hong Kong stocks may continue to outperform in the second half of the year [1] Group 1: Market Dynamics - Since July, southbound capital inflow has accelerated, with inflow momentum rebounding to the mean plus one standard deviation level [1] - The proportion of southbound buy transactions has risen to a high level, indicating strong investor interest [1] Group 2: Sector Focus - The ongoing AI industry transformation is expected to drive Hong Kong technology stocks as a mid-term investment theme [1] - Recent breakthroughs in domestic large models have led to increased southbound allocation towards Hong Kong technology stocks [1] - Easing of US-China trade tensions and relaxation of technology export controls are anticipated to accelerate the iteration of domestic large models and AI application deployment [1] Group 3: Investment Opportunities - Hong Kong stocks with scarce asset advantages, including dividends, new consumption, and innovative pharmaceuticals, are also worth attention in the second half of the year [1] - The Hong Kong Technology ETF (513020) tracks the Hong Kong Stock Connect Technology Index (931573), focusing on high-tech companies in information technology and healthcare sectors [1] - The index adopts a growth investment style, providing investors with an effective tool to participate in the development of the Hong Kong technology industry [1] - Investors without stock accounts can consider the Cathay CSI Hong Kong Stock Connect Technology ETF Initiated Link A (015739) and Link C (015740) [1]