TENCENT(HK:00700) Mei Ri Jing Ji Xin Wen·2025-10-30 01:56Core Insights - The Hong Kong Stock Exchange (HKEX) has seen a significant increase in IPO financing, reaching HKD 192.05 billion year-to-date, a year-on-year growth of 233.57% [1] - Total placement amounts have surged to HKD 241.77 billion, marking a year-on-year increase of 566.69% [1] - Major new consumption players like Mixue Ice City and Pop Mart, along with new economy leaders such as BYD, Xiaomi, and WuXi AppTec, are driving a refinancing wave [1] Group 1: Market Dynamics - Public funds are actively purchasing leading stocks, while insurance capital frequently increases stakes, and retail investors are showing renewed enthusiasm for IPOs [1] - Southbound capital has seen a net inflow exceeding HKD 1.21 trillion this year, significantly surpassing last year's total [1] - The scale of Hong Kong Stock Connect ETFs has achieved a historic breakthrough, reflecting strong market enthusiasm [1] Group 2: Investment Trends - The influx of funds into Hong Kong stocks is driven by three main factors: the attractiveness of valuations, a global shift from dollar assets to non-dollar assets, and the appeal of new economy sectors like AI and innovative pharmaceuticals [2] - For ordinary investors, participating through related ETFs is recommended due to lower investment thresholds and risks [2] - The Hong Kong Stock Connect Technology ETF (159101) tracks the CSI Hong Kong Stock Connect Technology Index, focusing on 30 high-market-cap, high-R&D investment technology leaders [2]