恒生科技指数ETF（513180）午后跌幅拉大，港股半导体股逆势上涨

Core Viewpoint - The Hang Seng Technology Index has seen a decline of over 1%, with major ETFs following suit, while select semiconductor stocks like Hua Hong Semiconductor and SMIC have risen against the trend [1] Group 1: Market Performance - The Hang Seng Technology Index ETF (513180) is experiencing fluctuations in line with the index, with leading stocks such as Ctrip, Horizon Robotics, Lenovo Group, and Baidu Group facing significant declines [1] - Despite the overall downturn, semiconductor stocks like Hua Hong Semiconductor and SMIC are performing well [1] Group 2: Industry Outlook - Donghai Securities highlights that domestic AI computing power expenditure is more cost-effective compared to the U.S., which exceeds 1% of GDP, and sees substantial application potential in the technology sector, particularly in chips and semiconductors [1] - The report suggests a balanced asset allocation strategy to capitalize on the effects of de-involution and technology empowerment, while also considering investment opportunities in cyclical and consumer sectors due to improving economic data expectations [1] Group 3: Valuation Insights - As of November 14, the latest valuation (PETTM) of the Hang Seng Technology Index ETF (513180) stands at 22.47 times, which is lower than other major global technology indices [1] - The index valuation is at approximately the 25.98th percentile since its inception, indicating that over 70% of the time, valuations have been higher than the current level, suggesting that the Hang Seng Technology Index remains relatively undervalued historically [1] - The characteristics of high elasticity and high growth in the index provide significant upward momentum potential [1]