Ge Long Hui·2025-11-21 01:56Group 1 - The Hong Kong stock market opened lower today, with the Hang Seng Technology Index dropping by 2.21%, and the Hang Seng Internet ETF and Hang Seng Technology Index ETF falling by 2% and 1.6% respectively [1] - Despite the declines, there has been a net inflow of funds into the Hang Seng Technology Index ETF totaling 4.472 billion yuan over 16 trading days from October 30 to November 20, during which the index fell by 10.11% [1] - The Hang Seng Internet ETF also saw a net inflow of 2.518 billion yuan over the same period, despite a 10.24% decline [1] Group 2 - Recent adjustments in the Hong Kong stock market are attributed to factors such as the "AI bubble theory," tightening liquidity in the US market, and profit-taking by institutions after a more than 20% increase in the Hang Seng Technology Index this year [1] - The Hang Seng Technology Index has experienced a cumulative decline of over 18% since October 3, which may present a buying opportunity [1] - Positive factors include strong Q3 financial results and Q4 guidance from Nvidia, which may help alleviate concerns regarding the "AI bubble," along with Alibaba's upcoming financial report on November 25 [1] Group 3 - The Hang Seng Internet ETF has a weight of over 80% in leading internet stocks, with an AI content exceeding 90%, including major companies like Alibaba, Tencent, NetEase, JD.com, and Baidu [2]