港股AI继续磨底，港股互联网ETF（513770）下探本轮调整新低，资金单日抢筹超3500万元

Core Viewpoint - The Hong Kong stock market, particularly the internet sector, is experiencing a downturn, with the Hong Kong Internet ETF (513770) showing signs of bottoming out amid global risk sentiment. The ETF has seen a net inflow of 35.89 million CNY despite a recent decline in value [1][5]. Group 1: Market Performance - The Hong Kong Internet ETF (513770) opened lower and has reached a new low since October, with a decrease of 0.19% [1][5]. - The index tracked by the ETF has dropped over 19% since October, with a current price-to-earnings (PE) ratio of 24.38, which is at the 25th percentile of the past five years, indicating a significant valuation discount compared to other indices [7][8]. Group 2: Investment Outlook - Analysts suggest that the current valuation of Hong Kong internet stocks reflects pessimistic expectations, and with potential interest rate cuts from the Federal Reserve, a favorable investment window is emerging [8]. - The technology sector, particularly driven by AI advancements, is expected to be a key driver for market recovery, with major internet companies transitioning from competition for traffic to competition based on ecosystem capabilities [8]. Group 3: ETF Composition and Strategy - The Hong Kong Internet ETF (513770) passively tracks the CSI Hong Kong Internet Index and has significant holdings in major internet companies like Alibaba, Tencent, and Xiaomi, with over 73% of its top ten holdings focused on AI and cloud computing [8]. - The ETF has an average daily trading volume exceeding 600 million CNY, supports T+0 trading, and is not subject to QDII quota restrictions, enhancing its liquidity [8].