张忆东：震荡是港股长期行情的蓄电池！恒生科技ETF基金(513260)、港股通科技ETF汇添富(520980)连续回调“吸金”！

Market Overview - The Hong Kong stock market experienced a collective decline, with the Hang Seng Tech ETF (513260) dropping by 0.43% despite attracting over 640 million yuan in net inflows over the past 10 days [1] - The financing balance for the Hang Seng Tech ETF has exceeded 130 million yuan, with a recent financing purchase amounting to 39.57 million yuan [1] Sector Performance - The technology sector in Hong Kong showed mixed results, with notable gains from Huahong Semiconductor (up over 4%), SMIC (up over 3%), and BYD Electronics (up over 2%) [4] - Conversely, Kuaishou saw a significant drop of over 8%, while Alibaba and Tencent experienced slight declines [4] Company Insights - Huawei is set to unveil breakthrough technology in AI inference at a forum on August 12, which may reduce reliance on HBM technology and enhance the performance of domestic AI models [5] - The performance of major tech companies is expected to be a catalyst for market movements, with a focus on their mid-year earnings reports [8] Investment Sentiment - Analysts from Xinyi Securities maintain a bullish long-term outlook for Hong Kong stocks, emphasizing the strengthening position of Hong Kong as an international financial center and the positive feedback loop from quality companies listing in Hong Kong [6] - The market is anticipated to experience a phase of consolidation, with a focus on mid-year earnings and value propositions [6][8] Long-term Outlook - The long-term outlook for Hong Kong stocks remains optimistic, driven by improving supply-demand dynamics and the potential for economic recovery from a "passive destocking" phase [8] - The technology sector is viewed as a key driver for economic transformation, with AI playing a significant role in future growth [9]