Xin Lang Cai Jing·2025-08-28 10:23Group 1: Market Overview - The Hong Kong stock market continued to decline, with major indices closing lower despite a rebound in the afternoon, influenced by a drop in Meituan's Q2 earnings, which caused significant pullbacks in tech giants [1] - The Hong Kong Internet ETF (513770) experienced a decline of 1.51%, with a notable premium rate of 0.84% at closing, indicating active buying interest during dips [1] - The Hang Seng Hong Kong Stock Connect Innovative Drug Selected Index fell over 4% but closed down 1.67%, while the Hong Kong Stock Connect Innovative Drug ETF (520880) also saw a decline of 1.72% [3] Group 2: Fund Flows and Performance - The Hong Kong Internet ETF (513770) recorded a net inflow of 870 million yuan over the past 10 days [2] - The Hong Kong Stock Connect Innovative Drug ETF (520880) attracted over 25 million yuan in net inflows in a single day, indicating strong buying interest despite market volatility [3] Group 3: Sector Analysis - The technology sector, particularly AI-related stocks, is expected to benefit from a shift in the Federal Reserve's stance towards a more accommodative monetary policy, which may enhance liquidity in the Hong Kong market [4][5] - The Hong Kong Internet ETF (513770) is positioned to capitalize on the AI trend, as internet companies are seen as key players in AI development and application [5] - The innovative drug sector is facing short-term sentiment challenges due to potential U.S. tariffs on imported drugs, but long-term growth prospects remain strong due to favorable policies and increasing international recognition of Chinese innovative drug assets [6] Group 4: Key Holdings - As of the end of June, the top four holdings in the Hong Kong Internet ETF (513770) are Xiaomi Group-W, Tencent Holdings, Alibaba-W, and Meituan-W, collectively accounting for 54.74% of the fund's total weight [5][7] - The Hong Kong Stock Connect Innovative Drug Selected Index has outperformed other indices, with a year-to-date increase of 101.58%, significantly surpassing the Hang Seng Index and Hang Seng Tech Index [9][10]