乘AI东风，抢占中国科技核心资产的全球重估红利

Group 1 - The Hang Seng Index rose by 0.62% to 25,426.53 points, with the Hang Seng Tech Index increasing by 1.96% and the Hang Seng China Enterprises Index up by 1.01% on August 18 [1] - The market's half-day trading volume reached HKD 171.95 billion, indicating active trading conditions [1] - Notable gainers included NIO-SW, which surged by 8.04%, JD Health rising by 6.94%, and SenseTime-W increasing by 5.20%, while Hua Hong Semiconductor fell by 5.89% and Sunny Optical Technology declined by 2.39% [1] Group 2 - The valuation pressure on the Hong Kong tech sector has been fully released after nearly a quarter of adjustment, with improved risk sentiment and ample liquidity laying a solid foundation for the next phase of growth [1] - The market is awaiting a strong thematic narrative to catalyze a new wave of enthusiasm in the Hong Kong tech sector [1] - The structural changes in the Hong Kong market have led to technology and consumer sectors now accounting for a significant portion of the market, shifting away from the previous dominance of finance and real estate [1] Group 3 - Global capital reallocation is expected to make Chinese assets a safe haven as overseas funds seek alternatives to dollar-denominated assets [2] - The Hong Kong market is experiencing a qualitative change with an influx of high-quality companies, which is fundamental for the sustainable bullish trend in the market [2] - The proportion of overseas funds allocated to Chinese assets remains relatively low, suggesting potential for future inflows if market sentiment stabilizes and international relations improve [2] Group 4 - The valuation system is undergoing a significant upgrade, with the Hang Seng Index's PE ratio rising from approximately 7.5 times to 11.6 times, aligning with the ten-year average and indicating room for further appreciation [2] - The Hong Kong tech sector is entering a golden window for systematic valuation reshaping, driven by multiple favorable factors including AI demand and rational market behavior [2] - The launch of the Hong Kong Stock Connect Tech ETF (159101) provides investors with an excellent opportunity to invest in leading tech companies in Hong Kong [2]