四季度港股科技龙头有望重拾优势，港股科技ETF（513020）近20日净流入超11亿元，或可低位布局

Core Insights - The fourth quarter is expected to see Hong Kong tech leaders regain their advantages, with the Hong Kong tech ETF (513020) experiencing a net inflow of over 1.1 billion yuan in the past 20 days [1] - Optimism in the AI sector is driving the internet sector back to the AI narrative, contributing to a positive overall performance in the Hong Kong market [1] - The potential for foreign capital to return is heightened by the Federal Reserve's resumption of interest rate cuts, which may lead to sustained inflows from southbound funds [1] Industry Summary - The Hong Kong tech ETF (513020) tracks the Hong Kong Stock Connect Technology Index (931573), focusing on technology-related companies listed in Hong Kong that are traded through the Stock Connect [1] - The index includes the top 30 companies by market capitalization, reflecting the core performance of the Hong Kong tech sector with significant industry purity and leadership characteristics [1] - The upward trend in the AI industry cycle is confirmed, indicating that Hong Kong tech leaders are likely to regain their advantages in the fourth quarter [1] Market Dynamics - The overall bullish market pattern for Hong Kong stocks remains unchanged in the fourth quarter, with AI-driven tech stocks being the main theme of the market [1] - The Hong Kong market is benefiting from policies that strengthen dividends and low interest rates, making new consumption and innovative pharmaceutical assets relatively scarce compared to A-shares, which are worth monitoring in the second half of the year [1]