港股科技ETF（513020）近20日净流入超2.4亿元，市场聚焦流动性改善与风格切换

Core Viewpoint - The Hong Kong stock market is experiencing stabilization and recovery, influenced by improved global market sentiment, with the Hang Seng Tech Index showing significant rebound but also higher volatility [1] Group 1: Market Sentiment and Trends - The overall market is likely in a phase of emotional recovery and style switching, with easing overseas liquidity risks and rising expectations for interest rate cuts by the Federal Reserve contributing to an increase in market risk appetite [1] - Concerns over "bubbles" in technology stocks are gradually dissipating, allowing the equity market to return to a fluctuating upward trend [1] - As the spring market approaches, further recovery in market sentiment is anticipated, with the Hong Kong tech sector expected to benefit from improved liquidity and heightened risk appetite [1] Group 2: Performance of Indices - The Hong Kong Tech ETF (513020) tracks the Hong Kong Stock Connect Tech Index (931573), which encompasses core assets in "Internet + Semiconductors + Innovative Pharmaceuticals + New Energy Vehicles," reflecting the diversified characteristics of the tech industry and the overall performance of key tech companies in the Hong Kong market [1] - The Hong Kong Stock Connect Tech Index has a higher allocation in sectors such as new energy vehicles, innovative pharmaceuticals, and semiconductors compared to the Hang Seng Tech Index [1] - From the base date at the end of 2014 to October 2025, the cumulative return of the Hong Kong Stock Connect Tech Index is 256.46%, significantly outperforming the Hang Seng Tech Index, which stands at 96.94%, by nearly 160% [1]