Mei Ri Jing Ji Xin Wen·2025-12-10 02:43Group 1 - The Hong Kong stock market experienced fluctuations, with major tech stocks mostly retreating, while Meituan-W rose over 1% and Alibaba-W rebounded after an initial drop [1] - CITIC Securities remains optimistic about the internet sector, highlighting its cyclical attributes combined with the upward trend of AI, suggesting that major players will benefit from AI advancements [1] - Zhongtai Securities notes that the current valuations of Hong Kong tech leaders are reasonable amid increased AI investments, with the potential for valuation recovery and profit elasticity as the Federal Reserve begins to lower interest rates [1] Group 2 - The Hong Kong Internet ETF (513770) passively tracks the CSI Hong Kong Internet Index, which heavily invests in leading internet companies, with over 73% of its holdings in AI cloud computing and applications [2] - The top three holdings in the Hong Kong Internet ETF are Alibaba-W, Tencent Holdings, and Xiaomi Group-W, with weightings of 18.89%, 17.01%, and 10.05% respectively [2] - The fund size of the Hong Kong Internet ETF exceeds 10 billion, with an average daily trading volume of over 600 million, providing good liquidity and supporting T+0 trading without QDII quota restrictions [2]