超1.2万亿港元净买入！科技股在香江又要热闹起来了？

Core Viewpoint - The article highlights the ongoing technological competition driven by AI, particularly focusing on the developments in the Hong Kong stock market and the increasing interest from capital in the tech sector, which is seen as a key area for investment opportunities [2][3][10]. Group 1: Technological Developments - OpenAI's 2025 Developer Conference showcased various tools and models, indicating a strong push against major tech companies like Apple and Google [2]. - Chinese companies are demonstrating global leadership in innovation, particularly in AI, which is attracting significant capital to the Hong Kong tech sector [2][3]. - The Hang Seng Technology Index ETF (513180) has seen its scale increase to 44.391 billion yuan, a rise of 214.16 billion yuan since the beginning of the year [2]. Group 2: Market Dynamics - The Hong Kong stock market has experienced a significant increase in IPO financing, reaching 192.051 billion HKD, a year-on-year growth of 233.57% [4]. - Southbound capital has seen a net inflow exceeding 1.21 trillion HKD this year, indicating strong investor interest [4][5]. - The valuation of Hong Kong tech stocks remains attractive compared to their US counterparts, with the Hang Seng Technology Index ETF and the Hong Kong Stock Connect Technology ETF trading at P/E ratios of 25.49 and 22.85, respectively [8]. Group 3: Investment Opportunities - The article emphasizes the potential for investment in AI applications, smart driving, and innovative pharmaceuticals, with Chinese companies leading in these sectors [13]. - The Hong Kong tech sector is positioned as a valuable entry point for global capital seeking to invest in China's core assets [6][10]. - The ongoing revaluation of Hong Kong stocks is driven by strong performance in the tech and consumer sectors, which now account for a significant portion of the market [11][12]. Group 4: Future Outlook - The article suggests that the Hong Kong tech sector is on the verge of a new growth phase, supported by favorable macroeconomic conditions and a shift in global capital flows [15][16]. - The potential for a new narrative to catalyze further investment in the tech sector is highlighted, with specific ETFs gaining popularity among investors [17]. - The Hang Seng Technology Index ETF and the Hong Kong Stock Connect Technology ETF are expected to benefit from the ongoing trends in AI and smart driving, positioning them for long-term growth [18].