Ge Long Hui·2026-02-05 06:37Group 1 - The core viewpoint of the news is that the Hong Kong stock market, particularly the Hang Seng Technology ETF, is experiencing significant capital inflow despite market adjustments, indicating strong investor interest in technology stocks [1] - As of February 4, the Hang Seng Technology Index saw a net inflow of 28.84 billion yuan, leading the stock ETF market, with the ETF tracking this index having an annual share increase of 244.97 million shares [1] - The Hang Seng Technology ETF (Southern, 520570) received a net inflow of 78.75 million yuan yesterday and a total of 519 million yuan over the past 20 days, reflecting robust trading activity [1] Group 2 - The Hang Seng Technology Index covers key sectors of the Chinese technology industry, including internet platforms, AI and computing, semiconductors, new energy vehicles, smart hardware, and biomedicine, featuring major companies like Tencent, Alibaba, and JD [1] - The current price-to-earnings ratio (PE-TTM) of the Hang Seng Technology Index is 22.38 times, which is at the 25.69% historical percentile since the index's inception, indicating a relatively low historical valuation [1] - According to Galaxy Securities, the technology sector in the Hong Kong stock market remains a long-term investment focus, with expectations of upward movement due to multiple favorable factors such as price increases in the supply chain, domestic substitution, and accelerated AI applications [2]