全球股市重挫！资金趁势抄底港股通科技ETF基金，四连“吸金”港股央企红利ETF微跌0.6%

Core Viewpoint - The recent decline in Asian markets, particularly in South Korea and Japan, is attributed to the spillover effects of the "Black Tuesday" in the US stock market, with significant drops in technology stocks due to high valuations and tightening liquidity conditions from the US government shutdown [1][2]. Group 1: Market Performance - Asian markets, including South Korea and Japan, experienced declines of up to 4%, while the Hong Kong stock market followed suit with a 2% drop in the Hang Seng Tech Index [1]. - The Hong Kong Stock Connect Technology ETF fell by 2.2%, despite a net subscription of 46 million units, indicating continued investor interest [1]. - The Hong Kong Central State-Owned Enterprises Dividend ETF saw a slight decrease of 0.67%, marking its fourth consecutive week of net inflows [1]. Group 2: Economic Indicators - The US dollar index has been on the rise since September 17, recently returning to the 100 mark, which exerts pressure on Hong Kong assets [1]. - The US government has entered its 35th day of shutdown, leading to a "cash in, cash out" situation in the Treasury General Account (TGA), resulting in tightened market liquidity [1]. Group 3: Investment Strategy - The current market adjustment is primarily driven by high valuations in technology stocks and tight US dollar liquidity, suggesting that short-term volatility may present better entry points for investors [1]. - Zheshang International's latest report maintains a cautiously optimistic outlook for the Hong Kong market, favoring sectors that are relatively prosperous and benefit from policy support, such as innovative pharmaceuticals and AI technology [1]. - The report also highlights low-valuation state-owned enterprises that are stable in performance and stock price, suggesting a "barbell strategy" for investment products [1][2]. Group 4: Investment Products - On the left side of the barbell strategy, the Hong Kong Central State-Owned Enterprises Dividend ETF (513910) includes major stocks like COSCO Shipping Holdings, Orient Overseas International, and China National Offshore Oil Corporation, with a decline of 0.67% [1]. - On the right side, the Hong Kong Stock Connect Technology ETF (159101) has over 60% exposure to major tech giants like Alibaba and Tencent, with a decline of 2.27%, and includes innovative pharmaceutical stocks such as BeiGene and Innovent Biologics [2].