加仓港股！基金经理真金白银“投票”！

Core Viewpoint - The article discusses the recent trends in the Hong Kong stock market, highlighting increased investment from fund managers in sectors such as AI and innovative pharmaceuticals, while also noting a shift in market dynamics between A-shares and H-shares [3][9]. Group 1: Market Trends - The market has shown alternating activity between A-shares and H-shares this year, with Hong Kong stocks performing well in new consumption, technology, and innovative pharmaceuticals in the first half, while A-shares, particularly in the ChiNext and Sci-Tech Innovation Board, gained strength in the second half [3]. - Fund managers have increased their positions in Hong Kong stocks, particularly in AI applications and innovative pharmaceuticals, with notable increases in holdings of companies like Alibaba and SMIC [4][5]. Group 2: Fund Manager Strategies - Notable fund managers have significantly raised their Hong Kong stock allocations, with one fund increasing its allocation from 11.38% to 39.66%, a rise of approximately 28 percentage points [4]. - Another fund increased its Hong Kong stock allocation from 4.87% to 26.66%, reflecting a strategic shift towards digital currency-related assets and financial technology stocks [4]. Group 3: Sector Performance - The technology sector remains the most heavily weighted in Hong Kong stock funds, although its share has slightly decreased to 37%, while the consumer sector holds 25.16% and the pharmaceutical sector 15.52% [7]. - The pharmaceutical sector has seen the largest increase in holdings, up 3.09 percentage points, while the technology sector experienced a decrease of 1.95 percentage points due to limited opportunities in certain tech stocks [7]. Group 4: Investment Sentiment - The article notes a trend of "Hong Kong premium" for quality assets, with international investors increasingly favoring high-quality stocks in sectors like advanced manufacturing and innovative pharmaceuticals [10]. - The AH premium, which reflects the price difference between A-shares and H-shares, is undergoing a structural adjustment, with some Hong Kong stocks trading at a premium compared to their A-share counterparts [10].