Group 1 - The Hong Kong stock market has attracted global capital due to its valuation advantages and quality Chinese assets, with the Hang Seng Index and Hang Seng Tech Index rising 27.70% and 29.79% respectively year-to-date as of September 1 [1] - Foreign capital inflow into the Hong Kong market has been significant, with long-term stable foreign institutional funds totaling approximately 67.7 billion HKD and short-term flexible funds around 16.2 billion HKD from May to July, exceeding 80 billion HKD in total [2] - Major international investment banks have increased their holdings in leading Hong Kong stocks, with Goldman Sachs raising its stake in BYD H-shares from 2.3% to 3.51% and Citibank increasing its holdings in CATL H-shares from 7.01% to 7.97% [2] Group 2 - Foreign investment is primarily focused on technology and consumer sectors, with foreign capital holding a dominant position in most sub-sectors, particularly in technology, retail, and insurance, where foreign institutions hold 77% of retail sector funds [3] - The improvement in the fundamentals of Chinese assets has attracted foreign investors, who are increasing their exposure through passive funds and "low allocation replenishment" in active funds [3] Group 3 - The technology and consumer sectors are expected to remain attractive to foreign investors, with Hong Kong's tech leaders benefiting from the AI industry trend, leading to greater upward potential [4] - Despite significant gains in the Hong Kong market, many foreign institutions believe there is still ample room for growth, with Goldman Sachs projecting an 8% to 9% earnings growth for H-shares by 2025, above the market average [4] - Experts from Morgan Asset Management and UBS Investment Bank also see structural investment opportunities in the technology, internet, consumer, and pharmaceutical sectors in Hong Kong [4]
外资大举涌入港股 科技与消费成核心配置赛道
Huan Qiu Wang·2025-09-02 05:05