恒生科技估值已低于历史上超77%的时间，机构称当前位置港股科技吸引力凸显

Group 1 - The Hong Kong stock market showed mixed performance on November 19, with the Hang Seng Tech Index ETF (513180) experiencing fluctuations, while major holdings like Alibaba, Trip.com, and Xpeng Motors saw gains, whereas Xiaomi, Tongcheng Travel, Li Auto, and Kuaishou faced declines, with Xiaomi dropping over 3% post-earnings [1] - According to a recent report by CITIC Securities, the Hang Seng Tech Index has seen significant net inflows of capital over the past month, particularly from the Nasdaq 100, while other indices like the China Internet 50 and Hang Seng Index experienced slight outflows [1] - The Hang Seng Tech Index ETF (513180) has become increasingly popular among investors, attracting approximately 725 million yuan in net inflows on November 18 alone, and a total of 1.24 billion yuan over the first two trading days of the week, indicating strong demand [1] Group 2 - As of November 18, the Hang Seng Tech Index ETF (513180) had a latest valuation (PETTM) of 21.84 times, which is lower than other major global tech indices, and is positioned in the historical low valuation range, being below 77% of the time since its inception [2] - Dongwu Securities suggests that while the Hong Kong tech sector is currently undergoing adjustments, the long-term attractiveness of Hong Kong tech stocks is evident due to their low valuation and high growth potential, especially in the context of the AI sector [2] - The Hang Seng Tech Index is seen as a cost-effective investment opportunity, with high elasticity and growth characteristics, making it suitable for investors looking to gain exposure to core Chinese AI assets without a Hong Kong Stock Connect account [2]