阿里股价再创阶段新高！机构：港股互联网仍有补涨空间

Group 1 - The Hong Kong stock market showed strength on September 15, with the Hong Kong Technology 50 ETF (159750) rising by 1.13% and the China Concept Internet ETF (513220) increasing by 1.42% [1] - Alibaba's stock price reached 156 HKD, marking a new high since the end of 2021, with a 2.32% increase [1] - The domestic large model market in China is experiencing explosive growth, with a projected 363% increase in daily usage by mid-2025 compared to the end of 2024, currently exceeding 10 trillion tokens [1] Group 2 - Southbound capital continued to flow in, with a net inflow of 608.21 billion HKD from September 8 to September 12, approximately double the previous week's inflow of 330.6 billion HKD [1] - From late June to the end of August, the Hong Kong Technology Index rose by only 10.13%, while the ChiNext Index increased by 43.79%, indicating underperformance compared to A-share TMT sectors [2][3] - As of September 12, the Hong Kong Technology Index had risen by 6.36% in September, outperforming the ChiNext Index, which rose by 4.5% [3] Group 3 - According to Industrial Securities, the Hong Kong internet sector has significant room for catch-up relative to the A-share TMT sector due to macroeconomic conditions and industry trends [4] - Alibaba's latest quarterly cloud revenue and capital expenditure exceeded market expectations, suggesting a shift back to AI narratives and technology growth [4] - The current price-to-earnings ratio (PE-TTM) of the Hong Kong Technology 50 ETF is 23.87, which is below the 27.69% percentile of the past five years, indicating a relatively low valuation [4]