Group 1 - The Hong Kong stock market has gained significant attention in 2023, with the Hang Seng Index rising 25%, second only to the Korean Composite Index, MSCI Vietnam, and Russia's RTS [1] - The Hang Seng Technology Index has also increased over 25% this year, with the Hang Seng Technology ETF (513130) showing strong liquidity, averaging daily trading volume of 4.9 billion yuan [1] - The Hang Seng Technology ETF has reached a record high in size of 27.823 billion yuan since its inception on May 21, 2024 [1] Group 2 - The Hang Seng Technology Index includes 30 Hong Kong-listed companies related to technology themes, with top five constituents being NetEase, Xiaomi, Tencent, Alibaba, and BYD, all of which are leading firms in the internet and technology manufacturing sectors [1] - The current PE (TTM) of the Hang Seng Technology Index is 21.14 times, which is lower compared to the NASDAQ 100 at 36.06 times, indicating potential for valuation uplift [1] - Huatai-PineBridge Fund, the manager of the Hang Seng Technology ETF, has over 18 years of ETF operation experience and manages ETFs with a total size exceeding 510 billion yuan [1] Group 3 - Huatai Securities reports that global funds are overweight in US tech stocks while under-allocating to Chinese assets, highlighting the unique growth potential of technology [2] - The Hong Kong technology sector is expected to receive fundamental support due to economic resilience, AI benefits, and industry optimization, making it a core asset for both domestic and foreign investors [2] - Investors are encouraged to consider the Hang Seng Technology ETF (513130) and its associated off-exchange funds for T+0 trading opportunities [2]

Core Viewpoint - The recent competition among leading companies in the food delivery sector has drawn attention to the Hang Seng Technology Index, with significant capital inflows into the Hang Seng Technology ETF (513130) [1] Group 1: Market Activity - The Hang Seng Technology ETF (513130) saw a net inflow of 1.053 billion yuan over three trading days (July 2 to July 4), with a single-day inflow of 634 million yuan on July 4, highlighting its investment appeal [1] - The total shares of the Hang Seng Technology ETF (513130) reached a record high of 38.642 billion, marking an increase of 2.752 billion shares in the past month [1] - The average daily trading volume of the Hang Seng Technology ETF (513130) exceeded 5 billion yuan this year, indicating its scale and liquidity advantages [1] Group 2: Industry Insights - Goldman Sachs suggests that the current price war in the food delivery sector aims to acquire user traffic for cross-selling to more profitable e-commerce and travel businesses, rather than focusing solely on profitability from food delivery [1] - As competition normalizes, leading companies are expected to reallocate marketing expenditures towards food delivery subsidies, gradually achieving moderate profitability or breakeven, thus enhancing GMV profit margins [1] Group 3: Investment Outlook - The Hang Seng Technology ETF (513130) closely tracks the Hang Seng Technology Index, which includes 30 leading companies in the Hong Kong internet and technology manufacturing sectors, representing a scarce core asset direction in the Hong Kong market [1] - The top five weighted stocks in the Hang Seng Technology Index include Xiaomi Group-W, NetEase-S, Tencent Holdings, Alibaba-W, and BYD Company, all of which are competitive leaders in the internet and technology manufacturing sectors [1] - According to a recent report by Galaxy Securities, the absolute valuation of Hong Kong stocks is relatively low, with mid-to-high historical valuation percentiles, indicating high medium-to-long-term allocation value [1] - The technology sector continues to present significant investment opportunities, supported by strong policy backing and leading profit growth, with valuations at historical low levels, suggesting substantial upside potential [1]

Group 1 - The core viewpoint of the articles highlights the recent adjustments in the Hong Kong technology sector, with market funds taking the opportunity to invest in the Hang Seng Technology ETF (513130), which saw a net inflow of 404 million yuan on July 3 [1] - The Hang Seng Technology ETF (513130) has shown positive growth in both shares and scale, reaching 37.726 billion shares and 26.201 billion yuan as of July 3, with a year-to-date increase of 31% compared to the beginning of the year [1] - The Hang Seng Technology Index, which the ETF closely tracks, includes 30 Hong Kong-listed companies related to technology, with major constituents being Xiaomi Group-W, NetEase-S, Tencent Holdings, Alibaba-W, and BYD Company, all of which are leaders in the internet and technology manufacturing sectors [1] Group 2 - The current price-to-earnings (P/E) ratio of the Hang Seng Technology Index is 19.86 times, which is significantly lower compared to the Nasdaq 100's 35.48 times, indicating potential for valuation uplift [1] - According to Huatai Securities, foreign capital is no longer flowing out of the Hong Kong market, with an increase in foreign investment in AI technology and new consumption sectors since early this year [2] - The anticipated return of foreign capital and increased southbound trading is expected to provide additional funding for the Hong Kong technology sector, with a focus on core assets such as the Hang Seng Technology ETF (513130) [2]

Group 1 - The Hong Kong stock technology sector has experienced a recent adjustment, yet there has been a significant inflow of funds into related ETFs, particularly the Hang Seng Tech ETF (513130) [1] - On June 18 and June 19, the Hang Seng Tech ETF attracted 5.3 billion and 22.66 billion HKD respectively, with a total of 13.34 billion HKD in the past four trading days, marking it as the only tech ETF with net inflows exceeding 13 billion HKD during this period [1] - As of June 19, the Hang Seng Tech ETF's latest shares and scale reached 378.29 million shares and 255.73 billion HKD, reflecting increases of 21.36 million shares and 9.66 billion HKD since the end of May [1] Group 2 - The Hang Seng Tech ETF closely tracks the Hang Seng Tech Index, which includes 30 leading companies in the Hong Kong internet and technology manufacturing sectors [2] - As of June 19, the Hang Seng Tech Index's price-to-earnings ratio was 19.55, which is at a historical low of 7.06% over the past five years, indicating a potential value investment opportunity [2] - The Hang Seng Tech ETF has a scale exceeding 255 billion HKD and an average daily trading volume of over 57 billion HKD this year, making it a significant tool for investors looking to capitalize on the growth of Chinese tech leaders [2]

Group 1 - Southbound funds have been continuously flowing into Hong Kong stocks, with a net purchase of HKD 5.743 billion on June 16, marking 14 consecutive days of net buying, the longest streak since February this year [1] - The Hang Seng Tech ETF (513130) has seen significant inflows, accumulating a total of HKD 928 million over three trading days from June 12 to June 16, with a total growth of over HKD 1.1 billion in June [1] - The Hang Seng Tech Index, which the ETF closely tracks, includes major tech companies such as Tencent, Xiaomi, Alibaba, Meituan, and JD.com, representing core competitive players in the Chinese tech sector [1] Group 2 - CITIC Securities research indicates that while AI commercialization is slowing, the undervaluation of Hong Kong stocks and improving fundamentals may lead to valuation and performance recovery, presenting significant upside potential [1] - The influx of southbound funds provides additional capital, and the ongoing trend of AI industrialization suggests opportunities in Hong Kong's tech leaders, particularly through the Hang Seng Tech ETF (513130) and its associated funds [1]