Core Viewpoint - The Hong Kong stock market has not reversed its downward trend as it approaches the end of 2025, with major indices opening lower and the Hong Kong Internet ETF (513770) declining by 0.95% [1][2]. Market Performance - The Hong Kong Internet ETF (513770) has seen a cumulative decline of 18.55% since October, with a current price-to-earnings (PE) ratio of 24.56, which is significantly lower than the 25.87% percentile over the past five years [2][3]. - The ETF's recent trading volume indicates a net inflow of 83.5 million yuan over the last two days, suggesting a shift towards left-side positioning by investors [3][4]. Investment Outlook - Looking ahead to 2026, there is an expectation for the Hong Kong stock market to experience a rebound, supported by a favorable monetary policy environment and potential net inflows from foreign and southbound capital [4][5]. - The focus on technological innovation is highlighted as a key investment theme, with significant potential for valuation recovery in the tech sector, particularly driven by advancements in AI [5]. ETF Characteristics - The Hong Kong Internet ETF (513770) tracks the CSI Hong Kong Internet Index and has a strong focus on leading companies such as Alibaba, Tencent, and Xiaomi, with over 73% of its top holdings concentrated in AI and cloud computing [5]. - The ETF has an average daily trading volume exceeding 600 million yuan, providing good liquidity and allowing for T+0 trading without QDII quota restrictions [5].
ETF盘中资讯|年末收官战，港股加速寻底，资金逆行加码港股AI，什么信号？
Sou Hu Cai Jing·2025-12-31 02:10