Mei Ri Jing Ji Xin Wen·2025-09-04 05:54Group 1 - The Hong Kong stock market experienced a decline, with the Hang Seng Technology Index dropping over 1.5% in the afternoon session, reflecting a mixed performance among tech stocks and a notable rise in the film and entertainment sector [1] - The semiconductor sector continued its downward trend, with companies like Hua Hong Semiconductor and SMIC both seeing declines of over 6%, while ASMPT fell by more than 0.5% [1] - Analysts from Dongxing Securities highlighted that the rise of the AI industry is driving demand for high-end consumer electronics and computing power, suggesting that the wafer foundry industry is expected to maintain growth due to demand from AI and automotive electronics in the coming years [1] Group 2 - The Hang Seng Technology Index ETF (513180) is currently considered to be in a historically undervalued range, with expectations of a rebound in September due to continuous inflow of southbound funds and the potential start of a new interest rate cut cycle in the US [2] - The ongoing "anti-involution" policies and Alibaba's better-than-expected earnings report are anticipated to help the Hong Kong tech sector shift focus back to AI narratives, suggesting a potential for valuation reconstruction [2]