Xin Lang Ji Jin·2025-11-10 12:03Core Viewpoint - The upcoming earnings reports from major internet companies like Tencent, Alibaba, Xiaomi, and Meituan are expected to catalyze the Hong Kong tech sector, which has shown strong performance recently [1][3]. Group 1: Earnings Reports and Market Performance - Major internet companies in Hong Kong are set to release their latest earnings reports starting this week, which is anticipated to boost the tech sector [1]. - The Hang Seng Index and Hang Seng Tech Index both rose over 1%, with leading internet stocks like Tencent, Alibaba, and Kuaishou gaining more than 2% [1]. - The Hong Kong internet ETF (513770) saw a price increase of 1.93%, recovering above the 5-day moving average, with a total trading volume of 636 million yuan [1]. Group 2: Industry Insights and AI Development - Analysts suggest that the platform advantages of Hong Kong's internet leaders will be reflected in their resilient earnings, with a focus on AI technology development and application [3]. - Alibaba's CEO announced the construction of a large-scale AI infrastructure, aiming to provide leading AI services globally [3]. - The global AI computing power industry is experiencing growth, and Hong Kong, as a hub for domestic AI assets, is expected to benefit from this trend [3]. Group 3: Valuation and Investment Opportunities - The valuation of Hong Kong tech stocks remains attractive, with the PE ratio of the Hong Kong internet ETF at 24.13, significantly lower than that of the Nasdaq 100 (35.94) and the ChiNext Index (41.27) [4][5]. - There is potential for increased southbound capital inflow into Hong Kong stocks, especially if the earnings of tech leaders exceed expectations [5]. - The Hong Kong internet ETF has seen substantial capital inflow, with a total of 440 million yuan over the past week and 865 million yuan over the last ten days [5]. Group 4: ETF Composition and Strategy - The Hong Kong internet ETF (513770) tracks the CSI Hong Kong Internet Index, heavily weighted towards leading internet companies like Alibaba, Tencent, and Xiaomi, which collectively account for over 73% of the top ten holdings [7]. - The ETF has a current scale exceeding 11.5 billion yuan, with an average daily trading volume of over 600 million yuan, indicating strong liquidity [7]. - For investors seeking to reduce volatility while still capitalizing on tech growth, the Hong Kong Large Cap 30 ETF (520560) is recommended, combining high-growth tech stocks with stable dividend-paying companies [7].