金融界8月12日消息，上证指数高开高走，中证港股通科技指数 (港股通科技，931573)下跌0.61%，报 3373.85点，成交额760.47亿元。 数据统计显示，中证港股通科技指数近一个月上涨7.35%，近三个月上涨11.64%，年至今上涨41.30%。 据了解，中证港股通科技指数从港股通范围内选取50只市值较大、研发投入较高且营收增速较好的科技 龙头上市公司证券作为指数样本，以反映港股通内科技龙头上市公司证券的整体表现。该指数以2014年 12月31日为基日，以1000.0点为基点。 从中证港股通科技指数持仓的市场板块来看，香港证券交易所占比100.00%。 从中证港股通科技指数持仓样本的行业来看，可选消费占比37.12%、信息技术占比26.79%、通信服务 占比17.89%、医药卫生占比17.18%、工业占比1.03%。 资料显示，中证港股通科技指数的样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第 二个星期五的下一交易日。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相 同。在下一个定期调整日前，权重因子一般固定不变。特殊情况下将对指数进行临时调整。如果香港市 场新上 ...

Core Viewpoint - The announcement of a ceasefire between Israel and Iran may serve as a significant turning point, leading to a reduction in global market risk aversion and a subsequent rise in asset prices, particularly in global stock markets while oil and gold prices decline [1][2]. Direct Impact - The geopolitical risk premium in oil prices has been eliminated, resulting in a decrease in international oil prices due to reduced fears of supply disruptions from escalating conflicts in the Middle East [2]. - As risk aversion diminishes, funds are flowing back from safe-haven assets like gold into higher-growth risk assets such as global equities, indicating a lower level of market uncertainty [2]. Transmission Effects - The easing of tensions in the Middle East may trigger a transmission chain in the global macroeconomic landscape [3]. - The transmission chain can be summarized as follows: 1. Easing Middle East tensions → Oil price decline [4] 2. Oil price decline → Reduced inflationary pressures in the U.S., as oil prices significantly influence U.S. inflation metrics [5]. 3. Reduced inflation → Increased likelihood of interest rate cuts by the Federal Reserve, as persistent inflation has been a barrier to rate cuts [6]. 4. Enhanced rate cut expectations → Improved global liquidity, particularly benefiting emerging markets, with Hong Kong stocks potentially attracting more international capital due to their low valuation [6]. Market Opportunities - In light of improved liquidity and rising risk appetite, Hong Kong stocks are expected to enter a significant "allocation window" [6]. - The technology sector in Hong Kong, which includes leading companies in internet, consumer electronics, and biotechnology, is likely to benefit from the anticipated global liquidity improvement and represents higher growth potential [6][8]. - The CSI Hong Kong Stock Connect Technology Index has shown strong growth, with a total return of 227% since the end of 2014, indicating its potential as a tool for capturing structural opportunities in the Hong Kong technology sector [8].

Core Viewpoint - The article emphasizes the significance of the China Securities Hong Kong Stock Connect Technology Index, which focuses on large-cap technology companies with high R&D investment and revenue growth within the Hong Kong Stock Connect framework [1][3]. Group 1: Index Characteristics - The index selects 50 large-cap technology companies to reflect the overall performance of technology leaders in the Hong Kong Stock Connect [3]. - The index has a balanced industry distribution, with major allocations in internet, automotive, and innovative pharmaceuticals, avoiding overcrowded sectors like electronics and media [11]. - The index includes industry leaders such as BYD in automotive and BeiGene in innovative pharmaceuticals, reducing exposure to second-tier internet companies [12]. Group 2: Market Performance - The index has shown high elasticity in market performance, outperforming similar indices during various market cycles since 2014 [22]. - Since the end of 2014, the annualized return of the index has exceeded that of other similar indices, such as the National Securities Hong Kong Stock Connect Technology Index and the Hang Seng Technology Index [22]. - The index's performance has been driven by significant contributions from the automotive and biopharmaceutical sectors, with distinct phases of market activity observed [22]. Group 3: Fund Introduction - The Southern China Securities Hong Kong Stock Connect Technology ETF (code: 159269) is set to track the index and will be issued starting June 18 [37]. - The fund aims to closely replicate the index's performance, minimizing tracking deviation and error [37].