流动性风险边际收窄，港股科技板块早盘回暖！恒生科技ETF（513130）基金份额冲击600亿份关口！

Core Viewpoint - The Hong Kong technology sector is experiencing a rebound, driven by improved liquidity and increased confidence from mainland investors, with significant inflows into technology-focused ETFs [2][7]. Group 1: Market Performance - The Hong Kong technology sector has shown strong performance, particularly in integrated circuits, chips, and humanoid robots, leading to active trading in the Hang Seng Tech ETF (513130) [1][6]. - Southbound capital has accelerated, with a net inflow of HKD 16.274 billion into Hong Kong stocks last week, setting a record for weekly net inflows in December [2][7]. - The Hang Seng Tech Index's latest price-to-earnings (P/E) ratio is 23.10, which is at a low percentile compared to the past five years, indicating potential attractiveness for investors [3][9]. Group 2: Investment Opportunities - The ongoing commercialization of AI is bolstering market confidence, with OpenAI's profitability rising to 70% and rapid advancements in domestic AI technologies [3][8]. - The Hang Seng Tech ETF has attracted over HKD 54.8 billion in cumulative inflows since November 2025, with a significant increase in fund size and shares, making it a key tool for investors seeking opportunities in leading Hong Kong tech stocks [2][7]. - The central government's focus on developing the technology and AI industries, combined with improved liquidity conditions, positions the technology sector as a long-term investment theme [4][9]. Group 3: Sector Composition - The Hang Seng Tech Index includes major companies such as Meituan-W, Xiaomi Group-W, Tencent Holdings, NetEase-S, and SMIC, which have strong technological foundations and broad business layouts in various tech fields [4][9]. - Compared to A-share hard tech companies, Hong Kong tech assets are more focused on applications and internet platforms, representing a unique investment opportunity [4][9].