内外资金青睐科技资产，港股估值优势显著

Group 1 - Southbound capital has become an important incremental source for the Hong Kong stock market by 2025, with net purchases exceeding 1.09 trillion HKD as of September 17, setting a record since the establishment of the mutual market access mechanism in 2014 [1] - During the week of September 8 to 12, southbound capital net purchases reached 608.22 billion HKD, an increase of 84.0% compared to the previous week, marking the highest weekly net purchase since mid-April [1] - Southbound capital shows strong interest in AI-related core assets, with leading internet stocks being the primary targets for increased investment [1] Group 2 - Despite a short-term pullback in the Hong Kong technology sector following the Federal Reserve's interest rate cut, the sector remains attractive from a medium to long-term perspective due to continuous breakthroughs in AI technology and applications, sustained inflow of southbound capital, and reasonable valuation levels [2] - The Hong Kong Stock Connect Technology ETF (159101) focuses on major internet giants like Tencent and Alibaba, as well as emerging players like Li Auto and BeiGene, covering popular sectors such as "software and hardware + new consumption + innovative pharmaceuticals + new energy vehicles" [2] - The Hang Seng Technology Index ETF (513180) supports T+0 trading and includes 30 leading Hong Kong tech stocks, with a deep focus on the AI industry chain, benefiting from the expected interest rate cuts and continued inflow of southbound capital [2]