Market Performance - The China Securities Hong Kong Stock Connect Internet Index decreased by 0.3%, the Hang Seng Technology Index fell by 0.7%, the Hang Seng Hong Kong Stock Connect New Economy Index dropped by 1.2%, the China Securities Hong Kong Stock Connect Pharmaceutical and Health Comprehensive Index declined by 1.3%, and the China Securities Hong Kong Stock Connect Consumer Theme Index fell by 1.9% [1] Fund Inflows - The E Fund Hang Seng Technology ETF (513010) saw a net inflow of 600 million yuan over the past three days [1] Earnings Expectations - According to CITIC Securities, while there has been a slight downward adjustment in recent earnings expectations for the Hang Seng Technology Index, this is mainly due to the impact of delivery subsidies on several internet platforms, which has already been fully priced in by the market. Other sub-sectors generally show an upward adjustment in earnings expectations, particularly in the new energy vehicles, semiconductors, and consumer electronics sectors [1] Future Outlook - Overall, the Hang Seng Technology Index is expected to present a "steady as the main focus, with upward elasticity" pattern in the mid-2025 interim report [1]

Core Viewpoint - The China Securities Index for Hong Kong Stock Connect Internet has shown significant growth, with a year-to-date increase of 33.34% and a recent monthly rise of 6.21% [1] Group 1: Index Performance - The China Securities Index for Hong Kong Stock Connect Internet opened lower at 1059.36 points, down 0.47%, with a trading volume of 61.835 billion yuan [1] - Over the past three months, the index has increased by 17.44% [1] - The index was established on December 30, 2016, with a base value of 1000.0 points [1] Group 2: Index Composition and Adjustments - The index consists of 30 publicly listed companies involved in internet-related businesses selected from the Hong Kong Stock Connect [1] - The sample is adjusted biannually, with changes implemented on the next trading day following the second Friday of June and December [2] - Companies with an average monthly turnover rate below 0.1% over the past 12 months are excluded unless their average daily trading amount exceeds 50 million HKD [2] Group 3: Fund Tracking the Index - Several public funds track the China Securities Index for Hong Kong Stock Connect Internet, including E Fund, GF Fund, and Industrial Bank funds [3]