Sou Hu Cai Jing·2026-02-12 03:21Core Viewpoint - The recent decline in Hong Kong's tech stocks is attributed to "liquidity shocks," presenting significant value for investment, with recommendations to "buy on dips and hold through the holiday" [3] Group 1: Market Performance - As of February 12, Hong Kong stocks showed a lackluster performance, with major internet companies like Bilibili-W dropping over 4%, Meituan-W and Tencent Holdings falling more than 3%, and Alibaba-W and Kuaishou-W declining over 2% [1] - The Hong Kong Internet ETF (513770) saw a decrease of 2.29%, falling below all moving averages, despite a net inflow of 281 million yuan over the past 10 days [1] Group 2: Investment Strategy - According to China Merchants Securities, the current tech sector in Hong Kong has entered a strategic allocation zone characterized by high win rates and high odds, with three bottom characteristics becoming increasingly clear [3] - Everbright Securities also noted that the tech sector is in an "oversold valuation pit," with funds counter-cyclically buying in, indicating a "golden layout window" for medium to long-term strategic allocation [3] Group 3: Future Outlook - Fund manager Feng Chen of the Hong Kong Internet ETF (513770) anticipates an increase in AI-related companies entering the Hong Kong market, enhancing the ETF's value as a core asset in AI [3] - The ETF tracks the CSI Hong Kong Internet Index, with top holdings including Alibaba-W, Tencent Holdings, Xiaomi Group-W, Kuaishou-W, and Bilibili-W, collectively accounting for over 76% of the portfolio [3]