资管一线 | 逆向加仓 不惧短期波动 外资为何执着 “捡漏” 中国科技股？

Group 1 - The core viewpoint is that foreign investment in Chinese technology stocks has significantly increased due to their attractive valuations and improvements in the industrial fundamentals, indicating a long-term strategic interest rather than short-term speculation [1][6]. - As of November 4, various technology sub-sectors have seen substantial increases, with the communication equipment sector rising by 116.37%, optical communication modules by 111.59%, CPO concept by 95.24%, and computing power by 70.95% [2]. - Multiple international institutions have intensified their research on Chinese technology companies, with notable firms like Morgan Stanley and Manulife Investment conducting extensive surveys [2][3]. Group 2 - Valuation attractiveness is the primary factor for foreign interest, with many foreign institutions viewing recent market fluctuations as opportunities for reverse investment strategies [3][4]. - Institutional investors generally adopt a "allocation-type" strategy, focusing on medium to long-term investments, while individual investors tend to use more direct methods such as ETFs to invest in Chinese technology stocks [4][5]. - The core logic behind foreign investment in Chinese technology stocks increasingly focuses on substantial progress in industrial fundamentals and structural opportunities, particularly in key areas like semiconductors, biotechnology, and artificial intelligence [5][6]. Group 3 - Despite recent market volatility, the medium-term outlook remains optimistic, supported by factors such as gradual profit recovery, continuous net inflows of various external funds, and the restructuring of valuations driven by technology narratives [6].