Core Insights - The Hong Kong stock market showed mixed performance this week, with technology stocks leading gains while pharmaceutical stocks experienced a correction. Southbound capital net purchases exceeded 60 billion HKD [1] - The CSI Hong Kong Stock Connect Internet Index rose by 5.7%, the Hang Seng Technology Index increased by 5.3%, while the CSI Hong Kong Stock Connect Pharmaceutical and Health Comprehensive Index fell by 1.7% [1][3] - The Hang Seng Technology ETF (513010) has seen net inflows for 12 consecutive trading days, totaling over 2.5 billion HKD, with the latest product size reaching 18.2 billion HKD, setting new historical highs [1] Index Performance - The weekly performance of various indices includes: - CSI Hong Kong Stock Connect New Economy Index: +3.4% - Hang Seng Technology Index: +5.3% - CSI Hong Kong Stock Connect Internet Index: +5.7% - CSI Hong Kong Stock Connect Consumption Theme Index: +3.4% - CSI Hong Kong Stock Connect Pharmaceutical and Health Comprehensive Index: -1.7% [3][5] - The rolling price-to-earnings (P/E) ratios for these indices are as follows: - CSI Hong Kong Stock Connect New Economy Index: 24.7x - Hang Seng Technology Index: 22.7x - CSI Hong Kong Stock Connect Pharmaceutical and Health Comprehensive Index: 31.1x - CSI Hong Kong Stock Connect Internet Index: 24.5x - CSI Hong Kong Stock Connect Consumption Theme Index: 21.6x [3][5] Historical Performance - The cumulative performance over different time frames is as follows: - 1-month: Hang Seng Technology Index +6.4%, CSI Hong Kong Stock Connect Pharmaceutical and Health Comprehensive Index +6.2% - 3-month: Hang Seng Technology Index +14.3%, CSI Hong Kong Stock Connect Pharmaceutical and Health Comprehensive Index +28.0% - Year-to-date: Hang Seng Technology Index +34.0%, CSI Hong Kong Stock Connect Pharmaceutical and Health Comprehensive Index +99.4% - 1-year: Hang Seng Technology Index +72.1%, CSI Hong Kong Stock Connect Pharmaceutical and Health Comprehensive Index +109.1% - 3-year: Hang Seng Technology Index +47.2%, CSI Hong Kong Stock Connect Pharmaceutical and Health Comprehensive Index +45.8% - 5-year: CSI Hong Kong Stock Connect Pharmaceutical and Health Comprehensive Index -16.6% [7][8]

Core Viewpoint - Southbound funds recorded a net purchase of HKD 35.88 billion, setting a new historical record for single-day net inflows [1] Group 1: Market Performance - The CSI Hong Kong Stock Connect Healthcare Index increased by 7.3% this week [1] - The CSI Hong Kong Stock Connect Internet Index rose by 3.5% [1] - The Hang Seng Hong Kong Stock Connect New Economy Index gained 3.4% [1] - The CSI Hong Kong Stock Connect Consumer Theme Index saw a 1.9% increase [1] - The Hang Seng Technology Index experienced a 1.5% rise [1] Group 2: Fund Inflows - The Hang Seng Technology ETF (513010) attracted over HKD 1.5 billion in net inflows over the past month [1]

Group 1 - The core index of the CSI Hong Kong Stock Connect Textile, Apparel, and Jewelry Composite Index is reported at 1922.06 points, with a recent one-month decline of 4.00%, a three-month increase of 9.13%, and a year-to-date increase of 13.10% [1] - The index is compiled based on the classification standards of the CSI industry, reflecting the overall performance of different industry securities within the Hong Kong Stock Connect [1] - The top ten weighted stocks in the index include Li Ning (15.18%), Shenzhou International (15.11%), Anta Sports (14.03%), Lao Pu Gold (12.04%), Chow Tai Fook (9.28%), Samsonite (7.96%), Bosideng (7.29%), Jiu Xing Holdings (3.71%), Yue Yuen Industrial (3.57%), and Xtep International (3.4%) [1] Group 2 - The industry composition of the index shows that apparel accounts for 57.20%, jewelry and luxury goods account for 24.16%, and footwear and accessories account for 18.65% [2] - The index sample is adjusted biannually, with adjustments implemented on the next trading day following the second Friday of June and December each year [2] - In the event of special circumstances affecting the index sample, such as delisting or mergers, the sample will be adjusted accordingly [2]

Group 1 - The core viewpoint of the articles highlights the performance of various indices related to the Hong Kong stock market, with the China Securities Hong Kong Stock Connect Pharmaceutical and Health Comprehensive Index rising by 4.0% [1] - The Hang Seng Hong Kong Stock Connect New Economy Index increased by 0.5%, while the China Securities Hong Kong Stock Connect Internet Index and the Hang Seng Technology Index decreased by 0.2% and 0.4% respectively [1] - According to Guangfa Securities, the rise of China's innovative drugs from a global perspective is catalyzed by the overseas expansion of BD, leading to a revaluation of new drug value [1] Group 2 - The Hang Seng New Economy ETF tracks the Hang Seng Hong Kong Stock Connect New Economy Index, which consists of the 50 largest stocks in the "new economy" sector within the Hong Kong Stock Connect range [2] - The rolling price-to-earnings ratio of the Hang Seng New Economy Index is 23.6 times, with a valuation percentile of 47.4% since its inception in 2018 [2] - The Hang Seng Technology ETF tracks the Hang Seng Technology Index, which includes the 30 largest stocks related to technology, with a rolling price-to-earnings ratio of 21.6 times and a valuation percentile of 20.5% since its launch in 2020 [2] Group 3 - The China Securities Hong Kong Stock Connect Pharmaceutical and Health Comprehensive Index consists of 50 highly liquid and large-cap stocks in the healthcare sector, with a weight of over 90% in the industry [3] - This index has a rolling price-to-earnings ratio of 32.5 times and a valuation percentile of 50.0% since its inception in 2017 [3] - The China Securities Hong Kong Stock Connect Consumer Theme Index is composed of 50 large-cap consumer stocks, with nearly 60% in discretionary consumption, and has a rolling price-to-earnings ratio of 21.0 times and a valuation percentile of 17.1% since its launch in 2020 [3]