ETF资金涌入港股！13只恒生科技ETF，10月以来合计吸金488亿元

Core Viewpoint - The Hang Seng Technology Index has experienced a significant decline of 19.16% from October 3 to December 16, breaking below the critical 250-day moving average, which is traditionally seen as a bull-bear dividing line [1] Group 1: Market Dynamics - The recent downturn in the Hong Kong stock market is attributed to multiple factors, including ongoing overseas disturbances and warnings from Wall Street regarding the uncertainty of AI investment returns [1] - There are rumors that some internet companies may lose their preferential 15% tax rate for high-tech enterprises, potentially reverting to a standard rate of 25%, which has led to preemptive pricing adjustments in the market [2] - The concentration of internet companies in the Hong Kong market results in quicker sentiment transmission, causing related sectors to weaken significantly [3] Group 2: Fund Flows - Despite the market downturn, ETF funds have seen a notable influx, with over 120 billion yuan net inflow into Hong Kong-related ETFs since the fourth quarter, including 48.8 billion yuan into 13 ETFs tracking the Hang Seng Technology Index [4] - Specific ETFs such as the Huaxia Hang Seng Technology Index ETF have seen net inflows exceeding 11 billion yuan, while several others have also attracted significant investments [4] - This "buying on the dip" behavior is unusual in the Hong Kong market, indicating a counterforce supporting prices amid prevailing panic [4] Group 3: Future Outlook - Analysts from Huaxia Fund suggest that the Hang Seng Technology Index typically performs well in the first quarter, and recent adjustments may have alleviated some selling pressure, creating opportunities for capital re-entry [4] - Jiashi Fund believes that the recent adjustments are primarily influenced by liquidity expectations and short-term sentiment, with the fundamental outlook remaining stable and attractive for long-term investments [5] - Future market strength is anticipated, supported by a loose domestic liquidity environment and ongoing inflows from southbound capital, particularly through ETF channels [6]