全球资本"抢滩"中国科技股，万亿美元加仓潮引爆市场 地缘博弈风险：全球科技话语权争夺加剧，半导体、算法等"卡脖子"领域仍受压制。 泡沫化隐忧：南向资金情绪化涌入叠加"害怕错过"心态，短期波动或加剧。 散户掘金指南：三条主线锁定长期红利 第一梯队：中芯国际港股50天飙涨50%，腾讯重返500港元大关，阿里、美团涨超40%。 过去一个多月，全球对冲基金以数月最快速度涌入中国股市，推动在岸与离岸市场总市值增长超1.3万 亿美元。美国对冲基金巨头Appaloosa单季度增持阿里至12亿美元，拼多多、哔哩哔哩等二线标的同步 暴涨超20%。外资私募加速布局，宽立资本、英仕曼等机构密集备案新产品，摩根大通更直言："中国 资产重估刚起步，未来10年年均回报率或达7.8%！" 第二梯队：哔哩哔哩、快手2月暴涨24%-36%，外资调研澜起科技、汇川技术等A股公司超80次。 瑞银、华泰等机构提出"中国科技七巨头"概念——腾讯、阿里、比亚迪、中芯国际、小米、宁德时代、 华为，对标美股"七巨头"的14万亿美元神话。引爆点来自国产AI大模型DeepSeek：低成本、开源、高性 能特性改写全球AI竞争格局，高盛测算其未来十年或推动中国生产 ...

Core Viewpoint - The article highlights a significant surge in southbound Hong Kong Stock Connect funds, with a net inflow of 152.8 billion HKD in February, marking a four-year high and the second highest monthly inflow in the history of the program [1][4][6]. Group 1: Southbound Fund Inflows - In February, southbound Hong Kong Stock Connect funds recorded a total net inflow of 152.8 billion HKD, the highest in four years and the second highest monthly inflow ever [1][4][6]. - The last trading day of February saw a notable adjustment in the Hong Kong market, with the Hang Seng Index dropping by 3.28% and the Hang Seng Tech Index falling by 5.32%, yet the southbound funds still recorded a net purchase of 11.9 billion HKD [5]. - Weekly statistics show that the total net inflow for the week reached 75 billion HKD, setting a new four-year weekly record [6]. Group 2: Performance of Technology Stocks - Technology stocks emerged as the biggest winners during this influx, with many experiencing significant gains that outpaced traditional industries [2]. - Despite the overall market adjustment on February 28, major indices in Hong Kong saw substantial increases in February, with the Hang Seng Index rising by 13.43% and the Hang Seng Tech Index by 17.88% [9]. - Several technology stocks, including Huahong Semiconductor, Alibaba-W, and Xiaomi Group-W, recorded cumulative gains exceeding 30% since the beginning of February [9]. Group 3: Divergence Among Technology Stocks - Not all technology stocks benefited equally from the inflow of southbound funds, indicating a significant divergence among different stocks [3][8]. - From early February to February 27, many stocks in the Hang Seng Index saw increased holdings from southbound funds, including major banks and tech companies like Alibaba-W and China National Petroleum [10]. - Conversely, some stocks such as SenseTime-W and Xiaomi Group-W experienced reductions in holdings, despite many of these stocks still showing price increases in February, suggesting a broader confidence in Chinese tech stocks [10].