Xin Lang Cai Jing·2026-02-12 03:01Core Viewpoint - The recent decline in Hong Kong's tech stocks is attributed to "liquidity shocks," presenting significant value for investment, with recommendations for "buying on dips and holding through the holiday" [3][10]. Group 1: Market Performance - As of February 12, Hong Kong stocks showed a weak performance, with major internet companies like Bilibili-W down over 4%, Meituan-W and Tencent Holdings down over 3%, and Tencent hitting a near six-month low [1][8]. - The Hong Kong Internet ETF (513770) saw a price drop of 2.29%, falling below all moving averages, despite a net inflow of 281 million yuan over the past 10 days [1][8]. Group 2: Investment Recommendations - According to China Merchants Securities, the current market position offers substantial allocation value, suggesting a strategy of "buying on dips" [3][10]. - Everbright Securities indicates that the tech sector has entered a strategic allocation zone characterized by oversold valuations, capital inflows, and improving fundamentals, marking it as a "golden layout window" for medium to long-term investments [3][10]. Group 3: Future Outlook - The fund manager of the Hong Kong Internet ETF, Feng Chen Cheng, anticipates an increase in AI-related companies entering the Hong Kong market, enhancing the ETF's value as a core asset in AI [11]. - The ETF tracks the CSI Hong Kong Internet Index, with its top ten holdings including Alibaba-W, Tencent Holdings, Xiaomi Group-W, Kuaishou-W, and Bilibili-W, collectively accounting for over 76% of the fund [11]. Group 4: Alternative Investment Options - For those looking to reduce volatility while investing in Hong Kong tech, the Hong Kong Large Cap 30 ETF (520560) is recommended, featuring a mix of high-growth tech stocks and stable dividend-paying companies [13].