Mei Ri Jing Ji Xin Wen·2025-10-14 02:26Core Viewpoint - The Hong Kong automotive sector is showing strength, with significant movements in major ETFs and a positive outlook for Q4 sales driven by policy changes and seasonal demand [1] Group 1: Market Performance - The Hang Seng Tech Index opened high but experienced a decline, while the Hong Kong automotive sector saw gains [1] - The largest A-share ETF in the same sector, the Hang Seng Tech Index ETF (513180), fluctuated alongside the index, with notable gains in stocks like Xpeng Motors, NIO, JD Group, BYD, and Li Auto [1] - The Hong Kong Stock Connect Automotive ETF (159323) rose over 2%, with leading stocks including Xpeng Motors, Beijing Jingcheng Machinery Electric, Yihua Tong, Weichai Power, Geely, and BYD [1] Group 2: Future Outlook - According to CMB International, the adjustment of the new energy vehicle purchase tax exemption policy in 2026 (from full exemption to half exemption) is expected to stimulate consumer purchases before the end of the year, combined with the "Golden September and Silver October" peak season and year-end sales push from automakers [1] - Shenwan Hongyuan noted the recent launch of several updated models, which is likely to enhance the already strong Q4 automotive market [1] - Companies such as Geely, BYD, Great Wall, Li Auto, and NIO are highlighted as potential beneficiaries due to effective supply release [1] Group 3: Index Composition - The Hong Kong Stock Connect Automotive ETF (159323) tracks the Hong Kong Stock Connect Automotive Index (931239.CSI), which focuses heavily on the Hong Kong vehicle sector, leading in passenger car content compared to similar indices [1] - The index includes relatively scarce new energy vehicle manufacturers in the A-share market, as well as companies in the intelligent driving industry, such as Horizon Robotics, indicating a higher concentration of intelligent driving elements compared to the A-share automotive theme index [1]