多头猛攻港股AI，补涨动力如何？港股互联网ETF（513770）溢价飙升，近10日“暴力吸金”超14亿元

Group 1 - The Hong Kong stock market experienced a decline, with the Hang Seng Index and Hang Seng Tech Index closing down by 1.12% and 1.85% respectively, following a similar trend in the A-share market [1] - Major tech and internet stocks such as Alibaba, Xiaomi, and Tencent saw significant declines, while Meituan and Bilibili managed to rise against the trend [1] - The Hong Kong Internet ETF (513770) closed down by 1.52%, but showed strong buying interest as it traded at a wide premium during the day, indicating a robust buying attitude [1] Group 2 - Recent data shows a surge in interest towards Hong Kong tech stocks, with the Hong Kong Internet ETF (513770) attracting a net inflow of 1.477 billion yuan over the past 10 days [3] - Factors contributing to this trend include the easing of negative influences on the Hong Kong market since July, the Hong Kong dollar moving away from the weak end of its trading band, and expectations of further monetary easing from the Federal Reserve [3] - The market is speculating on a potential rebound in Hong Kong tech stocks, following the "tech bull" trend observed in the A-share market [3] Group 3 - According to Industrial Securities, the rebound in Hong Kong stocks will be driven by the revaluation of major tech stocks and global capital allocation needs [5] - The price-to-earnings ratio (PE-TTM) of the Hang Seng Index stands at 12.3 times, significantly lower than the S&P 500's 27.4 times, indicating a valuation gap [5] Group 4 - The risk premium of the Hang Seng Index relative to the 10-year Chinese government bond yield is at 6.4%, which is considerably higher than the negative premiums seen in US, Japanese, and European stocks [6] - Alibaba's strong earnings report has positively influenced market sentiment, reflecting the rapid rise and global competitiveness of China's tech industry in AI and cloud computing [6] - The AI narrative is expected to reshape the valuation of Hong Kong tech stocks, moving from a focus on food delivery competition to AI applications [6] Group 5 - The Hong Kong Internet ETF (513770) has outperformed the Hang Seng Tech Index, with a cumulative increase exceeding 10 percentage points over the same period [7] - The ETF tracks the CSI Hong Kong Internet Index, which has shown significant growth, with the top four holdings being Xiaomi, Tencent, Alibaba, and Meituan, collectively accounting for 54.74% of the fund [8] Group 6 - The latest fund size of the Hong Kong Internet ETF (513770) exceeds 9.3 billion yuan, with an average daily trading volume of 596 million yuan, indicating good liquidity [9]