Group 1 - Hong Kong technology stocks continue to weaken, with Alibaba-W and BYD shares dropping over 4%, while Xiaomi Group-W, Tencent Holdings, Meituan-W, and SMIC also fell more than 2% [1] - The Hong Kong Technology 50 ETF (159750) decreased by 2.21% [1][2] - Despite the market downturn, southbound funds recorded a net purchase of nearly 7.3 billion HKD during the trading session, indicating strong demand for the Hong Kong Technology 50 ETF [1] Group 2 - Huatai Securities suggests that new economy companies remain the core of both domestic and foreign investment in the Hong Kong market, with the "Terrific 10" (including Alibaba, Tencent, Meituan, Xiaomi, BYD, JD.com, NetEase, Baidu, Geely, and SMIC) being significantly undervalued compared to US stocks [3] - CITIC Securities recently proposed increasing the allocation to Hong Kong stocks, suggesting that the reasonable proportion of Hong Kong stocks in Chinese asset allocation should exceed 45% [6] - The Hong Kong Technology 50 ETF tracks the CSI Hong Kong Technology Index, covering 50 large-cap technology companies with high R&D investment and revenue growth, spanning various industries including internet, new energy vehicles, semiconductors, and innovative pharmaceuticals [6]