恒生科技指数冲高回落，短期或宽幅震荡，机构称后续催化聚焦这三大因素

Group 1 - The Hang Seng Tech Index experienced a decline of over 0.5% in early trading on November 4, with major stocks like SenseTime, Sunny Optical Technology, Li Auto, and Horizon Robotics seeing significant drops, while Baidu, Tencent Music, and Midea Group led the gains, with Baidu rising over 6% [1] - According to Dongwu Securities, as of October 31, 2025, the risk level of the Hang Seng Tech Index is at 52.69, indicating a relatively stable market sentiment. The trend analysis shows that the market is currently experiencing a wide range of fluctuations, with potential support and resistance levels identified [1][2] - The Hang Seng Tech Index ETF (513180) is currently valued at a P/E ratio of 22.85, which is in the historical low valuation range, suggesting potential for recovery in the tech sector driven by AI trends and foreign capital inflow [3] Group 2 - The future performance of the Hang Seng Tech Index is expected to be influenced by macroeconomic data, policy developments, and industry earnings. Key factors include overseas macro data, domestic manufacturing PMI, and potential dovish signals from the Federal Reserve [2] - Positive earnings reports from major companies like Alibaba and NetEase could lead to a rebound in individual stocks and the overall sector [2] - The Hang Seng Tech Index ETF (513180) provides an accessible way for investors without a Hong Kong Stock Connect account to invest in core Chinese AI assets [3]