Mei Ri Jing Ji Xin Wen·2025-09-15 02:48Core Viewpoint - The Hong Kong stock market is experiencing a rebound, with significant inflows of southbound capital and a notable rise in the Hang Seng Technology Index, indicating renewed investor interest in technology and automotive sectors [1][2] Group 1: Market Performance - The Hang Seng Technology Index rose nearly 1.5%, surpassing the 6000-point mark, while the Hang Seng Index crossed the 26000-point threshold [1] - Southbound capital saw a weekly net inflow of 608.22 billion HKD, an increase of 84.0% compared to the previous week, marking the highest weekly net inflow since mid-April [1] - Alibaba has received net purchases from southbound capital for 16 consecutive trading days, totaling 415.24 billion HKD, reflecting renewed interest in Hong Kong's AI core assets [1] Group 2: Sector Analysis - The lithium battery sector and new energy vehicle stocks are performing strongly, with key stocks like BYD, NIO, and Alibaba leading the gains [1] - The inflow of southbound capital is primarily directed towards internet companies (Alibaba, Tencent, Meituan) and automotive firms (Xiaomi, Li Auto, BYD) [2] - The Hang Seng Technology Index is expected to experience a "catch-up" rally, driven by external liquidity and the potential for a new round of interest rate cuts in the U.S. [2] Group 3: Investment Opportunities - The recent performance suggests that investors without a Hong Kong Stock Connect account can consider the Hang Seng Technology Index ETF (513180) to gain exposure to China's AI core assets [2] - The ongoing policy shifts against "involution" and the rapid iteration of AI models are expected to support a valuation reconstruction for the Hang Seng Technology Index [2]