阿里持续迭代QWEN3模型，恒生科技指数ETF(159742)持续拉升涨超1.5%，冲击7连涨

Core Viewpoint - The Hang Seng Tech Index has shown strong performance, with significant gains in key stocks and the launch of a new AI model by Alibaba that is expected to drive advancements in the AI industry. Group 1: Market Performance - As of September 15, 2025, the Hang Seng Tech Index rose by 1.07%, with notable increases in stocks such as Bilibili-W (+4.93%), NIO-SW (+4.84%), and Horizon Robotics-W (+3.52%) [3] - The Hang Seng Tech Index ETF (159742) increased by 1.35%, marking a seven-day consecutive rise, with the latest price at 0.83 yuan [3] - Over the week leading up to September 12, the Hang Seng Tech Index ETF saw a cumulative increase of 5.03% [3] - The ETF's trading volume reached 1.37 billion yuan, with a turnover rate of 3.72% [3] Group 2: AI Model Development - On September 12, Alibaba Tongyi announced the next-generation foundational model architecture Qwen3-Next, featuring 80 billion total parameters with only 3 billion activated, achieving performance comparable to the flagship Qwen3-235B model [3][4] - The training cost for Qwen3-Next has decreased by over 90% compared to the denser Qwen3-32B model, with a tenfold increase in long-text reasoning throughput and support for over one million tokens [3][4] - The new model's innovative mixed attention mechanism balances speed and effectiveness in long-context processing, significantly enhancing AI applications across various fields [4] Group 3: Fund Flow and Scale - The latest scale of the Hang Seng Tech Index ETF reached 3.623 billion yuan, a new high in nearly a year [4] - Recent fund inflows have been stable, with net inflows totaling 180 million yuan over the past ten trading days, averaging 1.801 million yuan per day [4] - The ETF closely tracks the Hang Seng Tech Index, which includes the top 30 Hong Kong-listed companies highly related to technology themes [4][5] Group 4: Top Holdings - As of September 2, 2025, the top ten weighted stocks in the Hang Seng Tech Index include Tencent Holdings, Alibaba-W, and Netease-S, collectively accounting for 68.71% of the index [5]