Mei Ri Jing Ji Xin Wen·2025-09-04 02:09Group 1 - The core viewpoint is that the Hong Kong stock market, particularly the Hang Seng Technology Index, is expected to experience a rebound driven by revaluation and global capital allocation needs [1][2] - The Hang Seng Technology Index's forecasted price-to-earnings (P/E) ratio is currently at 20.3 times, which is at the 29.9% percentile since July 2020, indicating a relative undervaluation [1] - The Hang Seng Index's trailing P/E ratio is 12.3 times, significantly lower than the S&P 500's 27.4 times, highlighting the potential for capital inflow into Hong Kong stocks [1] Group 2 - The Hong Kong technology sector, represented by the Hang Seng Technology Index, is currently in a historically undervalued range, with expectations for a "catch-up" rally due to continuous inflow of southbound funds and a potential new round of interest rate cuts in the U.S. [2] - The Hang Seng Technology Index ETF (513180) includes 30 leading Hong Kong technology companies, focusing on the AI industry chain, with major players like Alibaba, Tencent, Xiaomi, Meituan, and BYD expected to be key components of China's technology sector [2] - Investors without a Hong Kong Stock Connect account can access Chinese AI core assets through the Hang Seng Technology Index ETF (513180) [2]