“越跌越买”！多只恒科ETF四季度净流入超50亿元

Core Viewpoint - The Hong Kong stock market has been experiencing a correction since the fourth quarter, with significant declines in major indices, yet there is a notable trend of increasing investment from southbound funds, indicating a strong buying interest despite the downturn [1][2][3]. Group 1: Market Performance - As of November 24, the Hang Seng Index has dropped over 4%, while the Hang Seng Technology Index and the Hong Kong Innovative Drug Index have fallen more than 14% and 15% respectively [1][3]. - Southbound funds have shown a consistent net buying trend, with 28 trading days of net purchases and only 4 days of net sales since the beginning of the fourth quarter [2][3]. Group 2: Fund Flows - In the last seven days, southbound funds have accumulated a net purchase of over 60 billion HKD, bringing the total net buying for the year to 1.37 trillion HKD, which is nearly 70% higher than the total net buying of 807.8 billion HKD in the previous year [2][3]. - Cross-border ETFs related to Hong Kong stocks have seen significant inflows, with the top ten ETFs experiencing a combined net purchase of nearly 7 billion HKD in the fourth quarter [1][3]. Group 3: Investment Sentiment - Despite the market correction, there is a strong appetite for quality assets in the Hong Kong market, particularly in sectors aligned with industry trends such as artificial intelligence and innovative pharmaceuticals [4][5]. - Analysts suggest that the current adjustments are viewed as short-term phenomena, influenced by factors such as tightening dollar liquidity and concerns over potential bubbles in the AI sector, rather than fundamental deterioration [5].