港股半导体板块高开低走，恒生科技午后跌超2%，短期回调或成增配恒生科技等板块的时机

Group 1 - The Hong Kong stock market indices, including the Hang Seng Technology Index, experienced a decline, with the Hang Seng Technology Index dropping over 2% [1] - The largest ETF tracking the A-share sector, the Hang Seng Technology Index ETF (513180), followed the index's downward trend, with major holdings like Hua Hong Semiconductor and SMIC leading the losses, particularly Hua Hong Semiconductor which fell over 10% in the afternoon [1] - The semiconductor sector in Hong Kong opened high but closed lower, with a report from Dongwu Securities highlighting rapid development in domestic semiconductor equipment, although there is still significant room for improvement in the localization of key equipment needed for advanced processes [1] Group 2 - Long-term impacts of tariff-related news on the Hong Kong stock market are considered limited, with potential for a rebound in technology sectors during any short-term pullbacks [1] - The latest valuation of the Hang Seng Technology Index ETF (513180) stands at 23.36 times, which is approximately 31.75% below its historical average, indicating it remains in a relatively undervalued range [2] - The technology sector in Hong Kong is expected to benefit from current trends in AI, with potential foreign capital inflows exceeding expectations due to the backdrop of Federal Reserve interest rate cuts and continued southbound fund accumulation [2]