AI重塑产业核心，港股泛科技该如何布局？

Core Viewpoint - The investment sentiment of professional managers towards Chinese technology has significantly changed under the AI-driven trend, with a consensus on the "pan-technology" allocation strategy, balancing dividend assets and high-growth technology sectors [2][3][4]. Group 1: Market Trends and Investment Sentiment - The global focus of AI development is shifting from hardware infrastructure to software applications, positioning China advantageously due to its strong manufacturing capabilities, mature ecosystem, rich data resources, deep talent pool, and robust government support [3]. - The technology sector has seen a clear divergence in performance, with broader and more balanced indices benefiting from a comprehensive layout across various technology segments, while more concentrated indices lagged behind [4][22]. - The Hong Kong stock market is experiencing a rotation in technology sectors, with artificial intelligence, innovative pharmaceuticals, and intelligent driving emerging as the main driving forces [7][10]. Group 2: Catalysts for Hong Kong Technology Sector - The technology sector in Hong Kong is being catalyzed by three main factors: significant valuation discounts, dual support from policies and capital, and increased R&D investments driving new productive forces [7][8][10]. - As of August 8, 2023, the cumulative net purchases of southbound Hong Kong stocks reached HKD 853.7 billion, surpassing the total for the entire year of 2024 [9]. Group 3: Index Analysis and Performance - The CSI Hong Kong Technology Index has led with a year-to-date increase of 42.77% as of August 7, 2025, driven by precise coverage of sectors like new energy vehicles and innovative pharmaceuticals [22][23]. - The index composition emphasizes technology growth potential, strategic industry diversification, and liquidity advantages, ensuring a positive cycle of quality assets attracting capital [24]. Group 4: Investment Tools and Strategies - For investors looking to capture the technology sector in Hong Kong, the Southbound Technology ETF (159269) offers a low management fee of 0.3%, significantly lower than similar products [25]. - The management team's expertise in AI, financial analysis, and quantitative technology supports effective tracking of the index, with a tracking error of only 0.38%, indicating strong alignment with index performance [26]. Group 5: Conclusion and Future Outlook - The Hong Kong market hosts a range of high-tech investment opportunities, including internet, AI, new energy vehicles, and innovative pharmaceuticals, all benefiting from low valuations and supportive policies [28]. - The evolving landscape of AI applications necessitates a shift in investment strategies, moving beyond traditional focuses to encompass broader industrial applications, with the CSI Hong Kong Technology Index positioned to capitalize on these trends [28].