Workflow
调整行情引资金持续“抢筹”，关注恒生科技ETF易方达（513010）、港股通互联网ETF（513040）等投资机会
Mei Ri Jing Ji Xin Wen·2025-11-04 03:30

Core Viewpoint - The Hong Kong technology and internet sectors are experiencing fluctuations, with the Hang Seng Technology Index down 0.4% and the CSI Hong Kong Internet Index down 1.1% as of 11:00 AM. However, there is a net inflow into related ETFs over the past three trading days, indicating investor interest in these sectors [1]. Group 1: Market Performance - The Hang Seng Technology Index and the CSI Hong Kong Internet Index are both showing declines, with respective decreases of 0.4% and 1.1% [1]. - Despite the downturn, funds are actively entering ETFs such as the E Fund Hang Seng Technology ETF (513010) and the Hong Kong Stock Connect Internet ETF (513040), which have seen net inflows for three consecutive trading days [1]. Group 2: AI Market Insights - According to Dongwu Securities, the current AI market is characterized by a lag in downstream applications due to a lack of breakout applications and clear business models, resulting in low visibility for earnings [1]. - The long-term potential of AI applications is expected to be greater than that of upstream hardware, suggesting a significant future value as AI continues to empower various sectors [1]. - Historical experiences from the "Internet+" wave indicate that the activation of AI application markets is merely a matter of time, with a clear medium-term certainty [1]. Group 3: Valuation and Investment Opportunities - The valuation of the Hong Kong internet sector is currently below its three-year average, positioning it at a low level within the global AI asset landscape [1]. - The rolling price-to-earnings ratios for the Hang Seng Technology Index and the CSI Hong Kong Internet Index are both below 25 times, which are at the 29% and 25% percentiles since the indices were launched [1]. - Investors are encouraged to consider products tracking the Hang Seng Technology ETF (513010) and the Hong Kong Stock Connect Internet ETF (513040) for convenient exposure to the Hong Kong technology and internet sectors [1].