南向资金昨日“狂买”超187亿港元，港股通科技ETF（513860）继续反弹涨超1%，机构：港股内外资有望共振

Group 1 - The Hong Kong stock market continues its "opening red" trend, with technology stocks showing active performance, particularly the Hong Kong Stock Connect Technology ETF (513860), which rose by 4.5% yesterday and continued to rebound by 1.08% today, with a trading volume exceeding 20 million HKD [1] - The ETF closely tracks the CSI Hong Kong Stock Connect Technology Index, which selects 50 large-cap, high R&D investment, and fast revenue growth technology leading companies as sample stocks. The top ten weighted stocks in the index include Alibaba-W, Tencent Holdings, SMIC, Xiaomi Group-W, and BYD Company [1] - Significant net inflow of southbound funds was recorded at approximately 18.723 billion HKD on January 5, marking the highest single-day inflow in nearly two and a half months. Over a longer period, net buying of southbound funds returned to positive, totaling 16.2 billion HKD in the week from December 15 to December 19, 2025 [1] Group 2 - Guolian Minsheng Securities commented on the Hong Kong stock market, suggesting that the continuous recovery of southbound funds is highly probable due to the strong expectations for institutional layout at the beginning of the year. The combination of domestic and foreign capital is expected to resonate under the return of profit-making effects [2] - Dongwu Securities released a report indicating that the Hong Kong stock market is "standing out" globally at the beginning of the year, and from a medium to long-term allocation perspective, the current position is attractive. The firm anticipates that southbound funds will continue to increase their allocation to Hong Kong stocks [2] - The future return of foreign capital will depend on whether there are changes in the fundamental narrative. The Hong Kong stock market is entering a period of oscillation and upward movement, and it is essential to maintain dividends as a base while seizing the technology growth opportunities in the first half of the year [2]