H200解禁，机构：利好腾讯、阿里CPAEX投资及AI应用爆发！百亿513770宽幅溢价，连续3日吸金1.66亿元

Group 1 - The U.S. has approved NVIDIA to deliver H200 chips to approved customers in China, with 25% of sales going to the U.S. government, a similar approach will apply to AMD, Intel, and other U.S. companies [1][7] - The entry of H200 is expected to increase China's overall computing power supply rather than replace domestic alternatives, benefiting domestic cloud service providers like Tencent and Alibaba [7][9] - The upcoming Federal Reserve meeting on December 9 is anticipated to result in a third consecutive interest rate cut, which may encourage foreign capital inflow into emerging markets, particularly benefiting Hong Kong tech stocks [1][3] Group 2 - The Hong Kong Internet ETF (513770) experienced a slight decline of 0.36% but showed strong buying interest, with a net inflow of 16,600 yuan over three days [1][3] - Major internet companies like Alibaba and Tencent are increasingly investing in AI hardware and models, driving growth and improving commercial efficiency [9][10] - The Hong Kong Internet ETF tracks the CSI Hong Kong Internet Index, heavily weighted towards leading internet firms, with Alibaba, Tencent, and Xiaomi making up over 45% of the index [3][10] Group 3 - The Hong Kong Internet ETF has a scale exceeding 10 billion yuan, with an average daily trading volume of over 600 million yuan, supporting T+0 trading and offering good liquidity [3][10] - The ETF's top holdings include Alibaba (18.89%), Tencent (17.01%), and Xiaomi (10.05%), focusing on AI cloud computing and applications [3][10] - The current valuation of Hong Kong tech leaders is considered reasonable, with enhanced dividends and buybacks amid the Fed's easing cycle and continued inflow of southbound capital [9][10]